Powell says Fed delayed rate cuts due to tariff inflation concerns

Federal Reserve Chair Jerome Powell on Tuesday said that the central bank has held off on cutting interest rates due to concerns about tariff-induced price hikes on consumers, adding that the Fed likely would’ve cut rates this year if not for those tariff worries. Powell participated in a panel discussion about…

FTC declares July ‘Made in USA’ month

The Federal Trade Commission (FTC) is making July “Made in the USA” month. FTC Chairman Andrew Ferguson announced the move on Tuesday as the month of July officially gets underway and the Fourth of July holiday rapidly approaches. The FTC is seeking to educate businesses and American consumers about Made in…

Deportations could cost Social Security billions, hasten insolvency

A new report warns that a side effect of the Trump administration’s push to crack down on illegal immigration could further weaken Social Security’s finances and speed up its insolvency. Social Security’s main trust funds, when considered together, are on pace to be depleted in 2034, according to a recent analysis…

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Long-term unemployment creating challenges for workers

The U.S. labor market is in a holding pattern with relatively low unemployment, but a slower pace of hiring has caused the share of long-term unemployed workers to stagnate amid economic uncertainty. The Labor Department’s Bureau of Labor Statistics (BLS) tracks the number of individuals in the workforce considered long-term unemployed, which…

CareerBuilder + Monster files for Chapter 11 bankruptcy

Online job listing company CareerBuilder + Monster filed for Chapter 11 bankruptcy protection on Tuesday. The Chicago-based company, formed by the September merger of CareerBuilding and Monster,  said it agreed to sell its job board operations, its most recognizable business, to JobGet, which has an app for so-called gig workers.Monster,…

Fed Chair Powell testifies US economy is in a ‘solid position’

Federal Reserve Chair Jerome Powell said that the economy is in a “solid position” as the central bank monitors inflation and labor market data for signs that it needs to adjust monetary policy. “Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low, and the labor…

Compass sues Zillow for alleged monopoly power over real estate listings

One of the largest U.S. residential real estate brokerage firms is taking on real estate giant Zillow over “consumer choice.” On Monday, real estate brokerage Compass filed a 60-page complaint in Manhattan federal court, claiming that Zillow is improperly refusing to list homes on its site that were first listed…

US energy production counters Iran’s threats to close Strait of Hormuz

Iran threatened to attempt to close one of the world’s most important shipping lanes for oil in response to the U.S. joining Israel in attacking Iranian nuclear facilities, but U.S. energy production would limit the impact of such a move on the American economy. Iranian state media suggested the country’s parliament…

Gas prices wouldn’t spike if Iran closes Strait of Hormuz: GasBuddy expert

GasBuddy’s head of petroleum analysis spoke with Fox News Digital about rising concerns that gas prices will skyrocket after President Donald Trump ordered a strike on Iranian nuclear facilities over the weekend and the Middle Eastern nation weighs shutting down the critical Strait of Hormuz. Patrick De Haan told Fox that…

US dollar falls after Fed governor signals possible July interest rate cuts

The U.S. dollar experienced a volatile trading day on Monday in the wake of the U.S. joining Israel in attacking Iran’s nuclear facilities. The dollar strengthened during the Monday morning trading session, rising as much as 0.71% as investors flocked to the greenback, reaching its highest level since May, according to…