Economy
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Kevin Warsh would be one of the wealthiest Fed chairs ever and says he ‘lived the American Dream.’ Here’s what he wants for the central bank
Two sides of Kevin Warsh were presented to the world at his Senate Banking Committee hearing this morning. From the Republicans, a “battle-tested” economist, ready to step into the role of Federal Reserve chairman in his “finest hour” at a turning point for the economy. From the Democrats, Warsh is a “sock puppet”—both for Donald
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How Trump’s war screwed you out of your Trump tax refund: Wall Street has the receipts
The promise was simple and seductive: pass the One Big Beautiful Bill, flood American wallets with historic tax refunds, and watch the consumer economy roar. For a few weeks this winter, it looked like it might actually work. Then the bombs started falling on Iran. Now Wall Street has delivered its verdict. Two of the
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Inside Kevin Warsh’s opening statement: Inflation is a choice, independence is essential, and a couple of notable name drops
In a matter of hours, former Fed Governor Kevin Warsh will appear before the Senate Banking Committee in his first real test as a would-be central bank chairman. Warsh, with the backing of President Trump, seeks to return to the U.S. Federal Reserve where he formerly served as a governor—something like a chief of staff—to
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This talent CEO says laid-off tech workers are ignoring a $300K ‘white-collar trade job’ with 81K openings a year
There’s angst in the air on college campuses and in offices across the country. Successive warnings on AI’s looming threat to automate swaths of entry-level white-collar work have put workers in a precarious position. And several large-scale layoffs this year have brought home the reality of those warnings. But not everyone is buying into the
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UAE officials reportedly warned they may be forced to use yuan or other currencies if they run low on dollars amid the Iran war
The United Arab Emirates apparently dropped a hint the dollar’s dominance isn’t assured in the global oil trade if fallout from the Iran war gets worse. According to The Wall Street Journal, the UAE’s central bank chief raised the idea of a currency-swap line with Treasury Department and Federal Reserve officials during meetings in Washington, D.C.,
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It’s crunch time for Kevin Warsh: Here’s how he might begin selling the idea of rate cuts—it requires some complex economic gymnastics
At 10 a.m. tomorrow morning, Kevin Warsh’s public campaign to lead the Federal Reserve begins. So far, markets, policymakers, and economists have only been able to speculate as to Warsh’s outlook and approach. But this week, for the first time since President Trump confirmed his nomination, his ideas will be laid out in the open
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The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely
Dr Phillip Swagel is an optimist, both by nature and when he looks at the U.S. economy. This fact is perhaps at odds with what one might assume: Swagel is the director of the Congressional Budget Office (CBO), the nonpartisan agency that offers independent budgetary and economic analysis to Congress. Very often—an inevitable occupational hazard—the
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The explosion of U.S. debt is wiping out the ‘safety premium’ of Treasury bonds, and time is running out for an orderly fiscal solution, IMF warns
Soaring U.S. debt is causing Treasury bonds to lose their risk advantage over other securities, making it more expensive to borrow money, the International Monetary Fund warned. Treasuries have long enjoyed the status as the world’s top safe haven asset. But annual budget deficits are now at $2 trillion, rapidly piling on to the $39
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Gen Z is ‘Chinamaxxing’—and it’s less a love letter to Beijing than an indictment of America
The American century — a phrase coined by Fortune founder Henry Luce — had a soundtrack. It was Chuck Berry on the radio and Coca-Cola in the cooler, Levi’s jeans, and Marlboro billboards stretching across Europe. American culture didn’t conquer the world through military force—it did it through desirability. People wanted to be American. That aspiration was
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Putin finally admits Russia’s economy is in trouble and grasps for answers, after warnings about a financial crisis have been piling up
Russian President Vladimir Putin made his concerns about the economy public as he vented frustration at aides and demanded they come up with solutions. During a televised meeting on the economy Wednesday, he revealed that GDP shrank by combined 1.8% in January and February, adding that manufacturing, industrial production and construction were negative. “I expect