Business

Vincent Alban/Getty Images (WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just weeks after President Donald Trump intensified calls for lower borrowing costs and voiced eagerness about the potential “termination” of Fed Chair Jerome Powell. In recent days, Trump has dialed back his attacks on Powell, saying he will not fire Powell […]

Vincent Alban/Getty Images (WASHINGTON) — The Federal Reserve on Wednesday is set to announce its first decision on the level of interest rates since President Donald Trump last month intensified calls for lower borrowing costs and voiced eagerness about the potential “termination” of Fed Chair Jerome Powell. In recent days, Trump has dialed back his […]

Bryan Woolston/Getty Images (FRANKFORT, KY) — Kentucky’s bourbon industry faces potential devastation as President Donald Trump’s latest tariff dispute with Canada threatens to halt $43 million in annual whiskey exports. During Tuesday’s Oval Office meeting with Canadian Prime Minister Mark Carney, Trump maintained his hard stance on tariffs, declaring that Canada would need to make […]

Tasos Katopodis/Getty Images (WASHINGTON) — President Donald Trump late Sunday proposed a 100% tariff on foreign-made films, saying the policy would counteract financial incentives that have drawn Hollywood productions overseas. “WE WANT MOVIES MADE IN AMERICA, AGAIN!” Trump said in a post on social media. Movie studios have increasingly moved production abroad in recent years […]

“We’re seeing lots of customer demand for the M5 Touring,” said Juliana Ochs, a manager of business development for BMW Luxury Class and M. Image via BMW. (NEW YORK) — Think your giant sport-utility vehicle is cooler than the middling station wagon? Think again. German automaker BMW recently entered the U.S. “super wagon” category with […]

ayk7/Getty Images (NEW YORK) — President Donald Trump’s administration is set to begin collecting defaulted student loan payments next week — which could harm the credit scores of millions of borrowers. Roughly 5 million borrowers will have their university and college loans sent for collections beginning May 5, the Department of Education said last month. […]

Narisara Nami/Getty Images (NEW YORK) — Hiring slowed but remained robust in April following President Donald Trump’s “Liberation Day” tariff announcement early last month, fresh data on Friday showed. The reading exceeded economists’ expectations. The U.S. added 177,000 jobs in April, according to data from the U.S. Bureau of Labor Statistics. That figure marked solid […]

Spencer Platt/Getty Images (WASHINGTON) — Government data to be released on Wednesday is expected to show a sharp economic slowdown over the initial months of President Donald Trump’s second term as a flurry of tariff proposals stoked uncertainty among businesses and consumers, analysts told ABC News. The measure of gross domestic product, or GDP, will […]

Ashley Cooper/Getty Images (WASHINGTON) — President Donald Trump is set to provide tariff relief for carmakers on Tuesday, just weeks after the onset of auto levies triggered warnings of price increases. An administration official confirmed that the 25% tariff on finished foreign-made cars and parts will remain — but today’s announcement will prevent tariffs from […]

Brandon Bell/Getty Images (NEW YORK) — A new survey of consumers on Tuesday is expected to show attitudes worsened in April, casting further gloom over the economy as President Donald Trump’s tariffs set off warnings of price increases and a possible recession. A reading of sour consumer sentiment would mark the fifth consecutive month of […]