Economics

Billionaire investor and Pershing Square USA Ltd. (NYSE:PSUS) CEO Bill Ackman warned Thursday that dependence on the Strait of Hormuz remains a critical vulnerability for the global economy, as the U.S. and Iran reached an agreement to end a conflict that disrupted global shipping...

The energy trade that paid off all spring has reversed in full. The two largest oil-and-gas equity funds have erased their entire Iran war rally, and the sector’s spring darlings are now its biggest losers. The Energy Select Sector SPDR Fund (NYSE:XLE), the broad sector benchmark, fell to $53...

An Internal Revenue Service advisory panel on Wednesday released a report recommending 18 reforms aimed at modernizing the U.S. tax system, including broader use of artificial intelligence, stronger fraud prevention and expanded digital taxpayer services. The Electronic Tax Administration Advisory...

(Editor’s note: The headline, ETFs and economic data were updated.) U.S. stock futures rose on Thursday, as the Dow Jones, Nasdaq 100, and S&P 500 indices advanced, following Tuesday’s sharp sell-off. Weekly initial jobless claims edged down by 4,000 to a seasonally adjusted 226,000...

Investors assessing the Federal Reserve's decision to keep interest rates steady this week may be suffering from a false sense of security. According to a global macro strategy report authored by Frank Flight at Citadel Securities, the market is severely under-indexing a looming hawkish pivot. The...

President Donald Trump expressed disbelief at the new Federal Reserve Chairman Kevin Warsh’s decision to maintain steady interest rates, a move he had previously criticized. Trump, when asked for comments on the Fed’s decision on Wednesday, said, “It’s all right. Whatever....

Market commentator The Kobeissi Letter said on Thursday that U.S. housing starts, which track when construction officially begins on new residential buildings, fell sharply in May, signaling a slowdown in residential construction as both single-family and multifamily building activity weakened....

The S&P 500 tumbled on Wednesday after the Federal Reserve signaled that interest rates could rise this year, but Polymarket traders are betting the benchmark index will rebound sharply at Thursday’s open. The S&P 500 closed down 1.21% at 7,420.10 after its worst session in nearly a...

Federal Reserve Chair Kevin Warsh‘s first policy meeting drew mixed reactions from economists, with attention centered on his decision not to submit a dot plot projection, his inflation messaging and his plans to reform the institution The Fed held rates steady at 3.50%-3.75% on Wednesday and...

On Wednesday, U.S. stock futures advanced as investors digested the Federal Reserve's decision to leave interest rates unchanged. Dow, S&P 500 And Nasdaq Futures Move Higher Dow futures rose 260.00 points, or 0.50%, to 51,779.00, while S&P 500 futures gained 54.25 points, or 0.73%, to 7,478...

Kevin Warsh used his first press conference as Federal Reserve Chair to pledge a decisive fight against inflation, signaling a policy shift few investors had expected. A broad selloff began with the June’s hawkish dot plot, which signaled the committee’s preference for one rate hike...

United Kingdom inflation remained unchanged ahead of the country's central bank interest-rate decision and after the economy contracted following nearly four months of global energy supply disruptions caused by the war in the Middle East. Inflation remained at 2.8% in May, unchanged from April, the...

Editor’s note: This article was updated to add more detail and context. The Federal Reserve unanimously held the federal funds rate steady at 3.50%-3.75% on Wednesday, as widely expected, in the first policy meeting under new Fed Chair Kevin Warsh. The June statement again described inflation...

Kevin Warsh's first meeting as Fed chair is widely expected to deliver the same policy outcome markets have grown accustomed to — another pause. But investors are less focused on this week’s rate decision than on something arguably more consequential: how the new chair plans to communicate...

Kevin Warsh makes his debut at the helm of the Federal Reserve on Wednesday, as the central bank wraps a policy meeting with markets broadly expecting rates to stay on hold at 3.50%-3.75%. While all eyes are on what Warsh says in his first press conference — and on how Fed officials reshape the dot...