Business

Cautioning that families are still feeling the sting of Biden-era inflation, U.S. Treasury Secretary Scott Bessent indicated that Americans can expect real affordability relief soon while forecasting meaningful progress on everyday prices, wages and housing as he touted an economy poised for a "bountiful" 2026."We should think that 2025 was setting the table. 2026 is going to be a bountiful year — if the Democrats don't shut down the government," […]

Wealthy business tycoon Elon Musk has started doling out money for the GOP's 2026 House and Senate races, according to Axios.He recently gave large checks to help Republicans emerge victorious in 2026 congressional contests and indicated that he will shell out even more funding amid the election cycle, two sources told the outlet.Axios reported that in November, Musk attended a dinner with Vice President JD Vance, White House chief of […]

Treasury Secretary Scott Bessent said Tuesday that two major decisions – the Supreme Court ruling on tariffs and the selection of a new Federal Reserve chair – will come in January.Bessent told FOX Business Network's Maria Bartiromo that while the administration has "plenty of revenue alternatives," he would like to see the Supreme Court rule in favor of President Donald Trump's trade policy."Economic security is national security. So this ruling […]

President Donald Trump on Monday reiterated that he is weighing whether to reclassify marijuana as a less dangerous drug, a statement that mirrors similar comments he made earlier this year and during his 2024 presidential campaign.Speaking to reporters in the Oval Office, the president said he was considering an executive order to reclassify marijuana as a Schedule III drug."We are considering that. A lot of people want to see it, […]

This is the holiday season, and it’s supposed to be a time for joy and celebration. It’s Christmas and Hanukkah. And family gatherings, office parties, and beautiful Christmas trees and menorahs. And Santa Claus and putting big smiles on the faces of our kids and our grandchildren. Yet suddenly all the news is horrible. It’s like evildoers are trying to snatch happiness from civilized people.I can’t explain the unmentionable deaths […]

Federal Reserve Chair Jerome Powell outlined how the central bank is viewing the labor market after it cut interest rates last week for the third straight time, with a fresh jobs report due out on Tuesday.Powell spoke at a press conference after Federal Reserve policymakers voted to lower the benchmark federal funds rate by 25 basis points to a range of 3.5% to 3.75%, amid signs of a weakening labor market and […]

Echoing President Donald Trump’s call to accelerate medical innovation, Food and Drug Administration (FDA) Commissioner Marty Makary announced that the agency will no longer block companies from submitting real-world data in drug and device applications. He says the shift will cut costs, reduce delays and open the door to faster cures."One thing we've got to do is deliver on President Trump's goal to give more cures and meaningful treatments to […]

Scammers are draining seniors’ life savings at staggering rates, a new Federal Trade Commission report shows, with older Americans reporting about four times more in fraud losses in 2024 than in 2020.Main findings from the FTC’s Protecting Older Consumers 2024-2025 report show that reported fraud losses for adults 60 and older exploded, with about $2.4 billion lost to scams in 2024 — up from about $600 million in 2020.However, the […]

Refinancing may not pay off for most homeowners planning to move in the near future, according to Realtor.com senior economist Jake Krimmel. The key to refinancing, he said, is knowing if a move passes a rule called the "breakeven point," which looks at whether upfront costs are outweighed by the savings from a lower rate."Loan size, remaining term, and, most importantly, how long the borrower plans to stay in their home […]