Obituary
Alan Greenspan, longtime Federal Reserve chairman, dies at 100
Greenspan led the U.S. central bank from 1987 to 2006, becoming a symbol of 1990s prosperity and a target of criticism after the financial crisis
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- Federal Reserve Trump’s trust gives Kevin Warsh room to reshape the Fed Markets expect the new Fed chair to hold rates steady Wednesday, but his bigger test is whether he can build support for longer-term changes inside the central bank
- Inflation Wholesale prices jump 1.1% in May as energy costs surge The producer price index rose faster than economists expected, lifting annual wholesale inflation to 6.5%, its highest rate since November 2022
- Inflation U.S. inflation rose to 4.2% in May, highest in three years The consumer price index matched forecasts as energy prices jumped, while core inflation came in softer on a monthly basis
Labor market
Job openings jump to 7.6 million, highest since May 2024
April’s JOLTS report showed stronger demand for workers but slower actual hiring, reinforcing a labor market with limited churn
Inflation report
Core PCE inflation rose 3.3% in April, matching forecasts
The Fed’s preferred inflation gauge showed softer monthly core price growth, but headline inflation still reached 3.8% from a year earlier
Inflation
Fed’s preferred inflation gauge rises to nearly three-year high under Warsh
The April PCE report showed inflation running at a 3.8% annual rate, adding pressure on the new Fed chief as energy costs climb and rate-cut hopes fade
Inflation outlook
Forecasters see inflation surge worsening in coming months
The Philadelphia Fed’s Survey of Professional Forecasters sharply raised inflation estimates after April price data showed consumer and wholesale prices at multiyear highs
Market selloff
Silver slides as inflation fears hit bonds, stocks and metals
Global yields rose Friday, with the U.S. 10-year Treasury near a one-year high, as investors weighed energy risks, geopolitics and fading hopes for rate cuts
Fed policy
Bond market pushes for tighter Fed stance as Warsh takes over
Ed Yardeni says the 2-year Treasury yield is flashing concern that rates are too low to contain inflation, while Treasury Secretary Scott Bessent argues the latest price surge should fade
Inflation pressure
US inflation hits 3.8% as Iran war drives energy costs
Gasoline and groceries pushed April prices higher, putting renewed pressure on consumers, the Federal Reserve and President Donald Trump’s party before the midterms
Inflation report
U.S. inflation rose 3.8% in April, highest since May 2023
The consumer price index climbed 0.6% from March, matching monthly forecasts, while the annual rate topped the Dow Jones consensus and kept pressure on the Federal Reserve
Federal Reserve
Warsh’s Fed independence stance draws concern over balance sheet
The Fed chair nominee says rate policy should be independent, but former officials told CNBC his comments on Treasury coordination leave important powers unclear
Monetary policy
Fed holds rates steady as inflation pressures persist
The central bank kept its benchmark rate at 3.5% to 3.75%, but an 8-4 vote showed rare internal division over how to frame possible future cuts
Inflation and growth
Core inflation rose to 3.2% in March as GDP missed forecasts
The Fed’s preferred inflation gauge accelerated while first-quarter growth came in at 2%, complicating the central bank’s next move after it held rates steady
Federal Reserve
Warsh’s Fed chair nomination advances to full Senate
The Senate Banking Committee backed President Trump’s pick on a 13-11 party-line vote, setting up a confirmation fight as Jerome Powell’s term as chair nears its end
Federal Reserve
Warsh Signals Limits on Fed Independence in Swap-Line Questions
The Fed chair nominee told Senate Democrats that the central bank’s special deference is strongest in monetary policy, not necessarily in international finance
Federal Reserve
Trump-Powell feud nears its end after years of public clashes
As Jerome Powell prepares to step down and Kevin Warsh awaits confirmation, the fight over rates, renovation costs and Fed independence remains central to the handover
Federal Reserve
Powell faces stay-or-go decision as DOJ closes probe
The Justice Department’s move shifts scrutiny of Fed renovations to the central bank’s inspector general and may clear Kevin Warsh’s path to confirmation
Federal Reserve
Warsh’s inflation gauge could complicate his Fed pitch
Trump’s nominee for Federal Reserve chair told senators he favors trimmed inflation measures. Bank of America says that approach may not always deliver a softer reading
Gulf crisis and markets
Europe eyes Hormuz role but remains sidelined as Strait swings shut again and markets wobble
A British-French security plan would give Europe a stake, but decisions by Tehran and Washington continue to drive events while investors whipsaw ahead of a cease-fire deadline