Acting director of the Office of Management and Budget Russell Vought speaks with reporters during a press briefing at the White House in Washington on March 11, 2019. Jonathan Ernst | Reuters The Consumer Financial Protection Bureau sent termination notices to several dozen employees late Tuesday, according to people with knowledge of the situation. The…
Bank of America CEO Brian Moynihan said Wednesday that strong consumer spending so far this year means the Federal Reserve will probably hold off on cutting its benchmark interest rate. The bank’s retail customers are spending about 6% more money in the first 40 days of this year compared with the same period in 2024,…
The Zelle icon is displayed on a phone screen. Jakub Porzycki | Nurphoto | Getty Images Zelle, the payments network run by banks-owned Early Warning Services, crossed $1 trillion in total volumes last year, which it said was the most ever for a peer-to-peer platform. The firm said Wednesday that its user base jumped 12%…
Ken Griffin, founder and CEO of Citadel, speaks during The New York Times’ annual DealBook Summit in New York City, Dec. 4, 2024. Michael M. Santiago | Getty Images Citadel CEO Ken Griffin sent a stern warning against the negative impact from President Donald Trump‘s combative approach to U.S. trade policy. “From my vantage point, the…
Office of Management and Budget (OMB) Acting Director Russell Vought speaks with reporters during a press briefing at the White House in Washington, U.S., March 11, 2019. Jonathan Ernst | Reuters Consumer Financial Protection Bureau employees were told Sunday to work remotely because their Washington, D.C., headquarters would be closed through Feb. 14, according to…
The Trump administration may create powerful tailwinds for two vastly different market groups: Big banks and small cap stocks. In the case of financials, Astoria Portfolio Advisors’ John Davi predicts deregulation — along with a boost in IPO and mergers and acquisitions — to spark multi-year strength. “The funny thing about the banks is that…
Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon | AFP | Getty Images Bank shares rose Thursday after the Federal Reserve released parameters for its annual industry stress test showing smaller hypothetical shocks to the U.S. economy than in previous…
The stock market is on a volatile ride this week in part because of the tariff back-and-forth from the Trump administration and various countries. But Third Point’s Daniel Loeb believes investors should relax. The hedge fund manager believes stocks will benefit from the macro environment going forward, even with periods of volatility brought on by…
U.S. President Donald Trump hold up an executive order, “Unleashing prosperity through deregulation,” that he signed in the Oval Office on January 31, 2025 in Washington, D.C., while also speaking to reporters about tariffs against China, Canada and Mexico. Chip Somodevilla | Getty Images News | Getty Images The U.S. stock market was rocked Monday…
Republican presidential nominee former President Donald Trump, left, listens as investor Scott Bessent speaks on the economy in Asheville, N.C., Wednesday, Aug. 14, 2024. Matt Kelley | AP President Donald Trump has made Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau after firing former head Rohit Chopra over the weekend….
