President Trump has so far restrained himself from trying to meddle with the Federal Reserve on matters related to monetary policy during his second term. But some of the more than 50 executive orders he has signed since returning to the White House are leaving an imprint on the central bank. The latest evidence is…
Editor’s note: Last week, the United Nations’ climate chief called the global transition away from fossil fuels “unstoppable,” despite the United States’ recent turn away from the fight against climate change under President Trump. That transition is the focus of the revamped version of The Climate Fix. Twice a month on Fridays, we’ll bring you…
The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year. And with inflation ticking slightly higher, economists do not expect another cut for a while, which has implications for rates on credit cards, home equity and other…
The leaders of more than half of Africa’s nations gathered this week in Dar es Salaam, Tanzania’s sprawling seaside metropolis, to commit to the biggest burst of spending on electric-power generation in Africa’s history. The World Bank, African Development Bank and others are pledging at least $35 billion to expand electricity across a continent where…
Howard Lutnick, the wealthy Wall Street executive whom President Trump has tapped to lead the Department of Commerce, detailed a complex network of financial holdings on Friday as he prepared to face scrutiny from lawmakers during a confirmation hearing next week. The financial disclosures showed that Mr. Lutnick, who has built a fortune in brokerages,…
As the second presidency of Donald J. Trump begins, America’s largest banks and asset managers have abandoned one of the most overt symbols of their commitment to reaching green goals: climate action networks. In the month leading up to Mr. Trump’s inauguration on Monday, the six largest U.S. banks, including JPMorgan and Goldman Sachs, left…
The Federal Reserve said on Friday that it had withdrawn from a network of global financial regulators focused on climate change risks just days before President-elect Donald J. Trump returns to power. The central bank formally joined the Network of Central Banks and Supervisors for Greening the Financial System in December 2020, shortly after President…
American Express said on Thursday that it would pay $230 million to settle civil and criminal allegations that the company used deceptive sales tactics related to credit card and wire transfer products sold to small business customers. The Justice Department’s civil division claimed that, from 2014 through 2017, the credit card and travel services giant…
Financial markets have been choppy since the November election, and for good reason. With the next presidential administration promising sharp policy changes on a broad range of economic issues, there is plenty to be nervous about. The new proposals are dizzying. The president-elect says he wants to deport millions of immigrants; impose tariffs on all…
Banks are on a winning streak, one that’s poised to intensify as President-elect Donald J. Trump takes office. Biden-appointed regulators at the Federal Reserve and other agencies presided over a relatively fruitless era of bank oversight. They tried to enact stricter rules for the nation’s biggest banks, hoping to create a stronger safety net for…
