Kevin Warsh, President Donald Trump's nominee for Federal Reserve chair, told lawmakers that he would like the central bank to change its strategy for measuring inflation.But Bank of America economist Aditya Bhave warned Wednesday that such a reconfiguration — part of a broader "regime change" that Warsh has promised for...
Year: 2026
Bessent says ‘many’ U.S. allies have asked for currency swaps amid Iran war turbulence
U.S. Treasury Secretary Scott Bessent arrives to testify during a Senate Committee on Appropriations, Subcommittee on Financial Services and General Government hearing in the Dirksen Senate Office Building on April 22, 2026 in Washington, DC. Chip Somodevilla | Getty ImagesTreasury Secretary Scott Bessent said Wednesday that "many" oil-rich U.S. allies...
LVMH stock drops as analysts flag luxury recovery ‘party postponed’ amid Iran war
A sign on the exterior of a Louis Vuitton luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. Benoit Tessier | Reuters.flourish-credit { opacity: 0.5 !important; margin: 0px !important; margin-top: -10px !important; font-size: 10px !important; }Shares of LVMH dropped Tuesday after it flagged...
United Airlines slashes 2026 forecast as fuel costs surge
A United Airlines plane approaches the runway at Denver International Airport on March 23, 2026.Al Drago | Getty ImagesUnited Airlines slashed its 2026 earnings outlook Tuesday as it grapples with a surge in jet fuel prices due to the Iran war.United said it could earn between $7 and $11 a...
Tariff refunds begin on Monday. These retailers are due big paydays
U.S. importers, ranging from Target to Walmart, are due more than $160 billion in tariff refunds following a February Supreme Court decision as the Trump administration launches its claims filing portal Monday.Hopes are high for a smooth launch of the system that will facilitate the refunds, but companies and Wall...