Jerome Powell finds himself under intense scrutiny from the White House over a controversial $2.5 billion renovation project for the Federal Reserve's headquarters, with calls for his potential ousting amid rising costs and Trump's frustrations with interest rates.
Despite initial fears of a recession, U.S. banks are experiencing a remarkable financial boom, with profits soaring and consumer spending remaining strong. Explore how market dynamics are shifting in favor of financial firms.
Bank of America posted mixed results for Q2, with earnings beating estimates at 89 cents per share but revenue missing expectations, leading to questions about future growth amid changing interest rates.
President Trump faces backlash after using the term 'Shylock' to describe bankers, leading to accusations of anti-Semitism. The Anti-Defamation League condemns his remarks, citing their offensive history.
In a stunning legal setback, Jes Staley's attempts to overturn a financial ban related to his ties with Jeffrey Epstein have failed, revealing shocking details during a two-week court hearing.
The Federal Reserve has proposed easing key capital rules that could empower banks to operate more flexibly, despite dissent from some officials concerned about potential risks to financial stability.
The Swiss National Bank has cut interest rates to 0% amid declining inflation, raising concerns about a potential return to negative rates. The move aims to stabilize the economy in face of global uncertainty.
JPMorgan Chase is raising the annual fee for its Sapphire Reserve card to $795, but with over $2,700 in new benefits, will affluent Americans stick with it? Explore the perks that may redefine luxury banking.
Chime, the neobank, successfully raised $864 million in its IPO, overcoming significant early struggles and regulatory hurdles. With impressive financial results, the company's shares surged in trading, marking a remarkable turnaround.
In a stunning move, Cara Petersen resigns as the CFPB's acting enforcement director, criticizing the Trump administration's efforts to undermine the agency and its mission to protect consumers.
