TEHRAN, Iran (AP) — Iran’s national rial currency hit a record low Wednesday of 1.8 million to $1 as a shaky ceasefire with the U.S. and Israe…
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WASHINGTON (AP) — Wednesday will likely be a momentous day for the future of the Federal Reserve as Chair Jerome Powell could signal he will s…
President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office. Yet Americans shouldn’t pencil in lower borrowing costs for mortgages, auto loans, or business loans just yet. Kevin Warsh is the likely successor to current Fed chair Jerome Powell when his term ends May 15. But Warsh will still face several hurdles to reducing rates even if he gets confirmed, including rising gas prices that are pushing up inflation, questions about his political independence, and 11 other Fed policymakers who have a vote on the decision, with most of them not ready to cut. Trump, meanwhile, has kept up the pressure.
Dr. Marty Makary, Food and Drug Administration (FDA) commissioner, attends an event on health care affordability in the Oval Office at the White House, Thursday, April 23, 2026, in Washington. (AP Photo/Mark Schiefelbein)
President Donald Trump speaks during an event on health care affordability in the Oval Office at the White House, Thursday, April 23, 2026, in Washington. (AP Photo/Mark Schiefelbein)
President Donald Trump listens during an event on health care affordability in the Oval Office at the White House, Thursday, April 23, 2026, in Washington. (AP Photo/Mark Schiefelbein)
President Donald Trump on Thursday will announce a deal with drugmaker Regeneron to lower the cost of its pharmaceutical products as part of t…
Amazon used its market leverage to get companies such as Walmart to increase prices on their websites so the e-commerce giant would not be und…
New York launched ambitious goals to cut its long-term greenhouse gas emissions with clarion calls about saving the future. Seven years later, Gov. Kathy Hochul says she wants to delay the law to save consumers money. Hochul is among the Democratic elected officials trying to navigate the collision of the party’s traditional support for clean energy policies with higher prices and the emergence of affordability agendas. Power costs remain a front-burner issue heading toward the November elections. It’s far from a full-scale retreat on green energy goals. But with an eye toward costs, some states are reassessing policies designed to lessen dependence on fossil fuels.
The Iran war has stalled the world’s economic momentum this year, likely pushing growth lower compared to 2025, the International Monetary Fund warned Tuesday. The IMF downgraded its forecast for global growth to 3.1% in 2026 from the 3.3% it had forecast back in January. The expected growth would mark a deceleration from a 3.4% expansion in 2025. Citing higher energy prices caused by the war, the IMF marked up its expectation for global inflation this year to 4.4% from 4.1% in 2025 and from the 3.8% it had forecast for this year in January.