President Trump's odds of facing a midterm election revolt over the economy may hinge on whether a vulnerable U.S. job market can withstand the conflict in Iran. The April jobs report, released Friday, defied expectations with a gain of 115,000 new workers and a stable unemployment rate at 4.3 percent. After more than a year of steep...
The U.S. economy added 115,000 new jobs in April, according to data released Friday by the Labor Department, beating the expectations of economists. The jobless rate held firm at 4.3 percent last month. Economists expected the U.S. to have added roughly 67,000 jobs in April, according to consensus estimates. The April jobs numbers may be...
A federal trade court on Thursday struck down tariffs President Trump imposed to replace import taxes that the Supreme Court struck down earlier this year. A three-judge panel of the U.S. Court of International Trade (CIT) imposed a permanent injunction on the 10 percent tariff Trump imposed on nearly all U.S. imports in February. Judges...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story DOJ asks judge to vacate Fed subpoena decisions U.S. Attorney Jeanine Pirro asked a court Monday to vacate its decision to quash two subpoenas in her criminal investigation into Federal Reserve Chair Jerome Powell, arguing the...
U.S. Attorney Jeanine Pirro asked a court Monday to vacate its decision to quash two subpoenas in her criminal investigation into Federal Reserve Chair Jerome Powell, arguing the issue is now “moot.” Pirro, the U.S. attorney for the District of Columbia, announced late last month that the Department of Justice (DOJ) was closing its probe...
Federal Reserve Chair Jerome Powell is drawing backlash from Trump administration figures and allies after announcing his plans to stay at the central bank beyond his chairmanship. Powell said Wednesday that he will remain on the Fed board for an undetermined amount of time after Kevin Warsh takes over as chair given the various legal threats he believes the bank still faces. While...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Inflation hit 3.5 percent in March as Iran war drove prices higher Prices grew at a far faster rate in March as the war in Iran drove a significant increase in inflation, according to data released...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Powell reveals post-chair plans as Warsh inches closer Federal Reserve Chair Jerome Powell said he plans to stay on at the central bank as a governor after his term as chair ends next month “for a period of...
State prosecutors are turning up the heat on social media and artificial intelligence companies over their safeguards for children as federal lawmakers remain at an impasse on the issue. From new investigations to a string of settlements, verdicts and state laws, state leaders are trying to fill a gap left by Congress, which has failed...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story What do you do with a record tax refund? The Treasury Department said in a release on Tax Day that as of April 14, the average tax refund this filing season was more than $3,400, an...
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Republicans fear string of shutdowns under Trump Senate Republicans who are scrambling to end the two-month shutdown of the Department of Homeland Security (DHS) fear that Democrats will trigger an even bigger government shutdown in October...
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