Business

Stephen Miran, President Donald Trump's nominee for the Federal Reserve Board of Governors, could be confirmed in time to take part in the mid-September rate-setting meeting.Fed watchers broadly expect the central bank to cut rates in September after Federal Reserve Chairman Jerome Powell signaled a softer stance on policy during his Jackson Hole address.The Federal Open Market Committee (FOMC), which will meet on Sept. 16, is the panel that sets […]

OpenAI continues the push toward an artificial intelligence future. After the launch of GPT-5, the company announced a new initiative Thursday to certify people in AI use, partnering with retail powerhouse Walmart to make it happen.In a release, OpenAI CEO of Applications Fidji Simo wrote, "Studies show that AI-savvy workers are more valuable, more productive and are paid more than workers without AI skills. That’s why, earlier this year, we […]

Everybody is going to focus on jobs and the economy tomorrow when the August employment report is published at 8:30 in the morning. The consensus number for non-farm payrolls is 75,000, but all I can say is, don't bet on it. Monthly job forecasts are one big crapshoot.There's roughly 160 million people working in America. So, if you miss your forecast by only one-tenth of 1%, it's a 160,000 miss. So, […]

New Paramount CEO David Ellison on Thursday told staff to return to the office full-time or accept a severance package.Ellison took control of Paramount, parent company of CBS, Comedy Central and the iconic movie studio last month after the Federal Communications Commission (FCC) approved a long-planned merger with Skydance Media. He notified staffers via a company-wide memo that COVID-era work-from-home policies are ending."I believe that in-person collaboration is absolutely vital […]

President Donald Trump on Thursday trolled Cracker Barrel over the controversial logo rebranding effort that it later reversed on social media.Trump posted a video on X of him and the "old timer" who was initially removed from the Cracker Barrel logo during the rebrand shaking hands and dancing to The Village People's "YMCA" in front of the restaurant chain's logo. The roughly 30-second video appeared to be generated using artificial intelligence (AI).The […]

Mortgage rates fell to the lowest level since October 2024, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.5% from last week's reading of 6.56%. This week's figure was the lowest since Oct. 17, 2024, when the 30-year fixed rate averaged 6.44%.The average rate on a 30-year loan was 6.35% a year ago.ONLY […]

Gold prices slipped on Thursday, marking a pause in what has been a record-breaking rally that has seen market prices for the precious metal surge over the last year.Long considered a safe haven asset to hedge against economic uncertainty, gold has risen as investors deal with concerns about the U.S. economy due to the impact of tariffs on inflation, as well as signs of a weakening labor market and expectations of […]

A New York billionaire is opening up about his private conversations with President Donald Trump on the city’s mayoral race and Democratic candidate Zohran Mamdani, including what Trump had to say about it this weekend."He’s [Trump] always been concerned for months and months and months about the race," admitted John Catsimatidis, CEO of Gristedes Supermarkets, during an appearance on "Varney & Co." Thursday. "President Trump is from New York, he's a […]

President Donald Trump’s nominee to join the Federal Reserve Board of Governors insisted to lawmakers Thursday he would keep the central bank independent and would take an "unpaid leave of absence" from his current White House position if confirmed to the role. Stephen Miran, chairman of the White House Council of Economic Advisers, appeared in front of the Senate Banking Committee, where he declared that the "independence of the central bank is […]