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Federal Reserve Chairman Jerome Powell on Wednesday said that the central bank could face a "challenging scenario" as it contends with President Donald Trump’s tariffs.Powell said the duties on U.S. trading partners imposed by the White House are "significantly larger than anticipated," and that they are "highly likely" to lead to a temporary rise in inflation."We may find ourselves in the challenging scenario in which our dual-mandate goals are in […]

A major shareholder in Harley-Davidson is calling for significant changes to the company's board, arguing CEO Jochen Zeitz and two other long-time members should be removed.H Partners Management said Wednesday it was asking other Harley-Davidson shareholders to cast "withhold" votes at the upcoming shareholder meeting in May when the re-election of Zeitz and two other board members, Thomas Linebarger and Sara Levinson, goes up for a vote. The firm's stake in […]

U.S. retail sales rose more than expected in March as consumers frontloaded big-ticket purchases to get ahead of anticipated tariff-induced price hikes.The Commerce Department released its data for March on Wednesday, which showed retail sales increased 1.4% on a monthly basis, a bigger gain than the forecast of a 1.3% rise that was projected by LSEG economists.When excluding vehicle purchases, retail sales were up 0.5% in March, which also surpassed the […]

Roughly 20,000 workers at the Internal Revenue Service (IRS) have expressed interest in the most recent buyout offer from the Trump administration, FOX Business has learned.An agency source told FOX Business that about 20,000 workers have indicated they are considering the buyout offer that was recently extended by the Trump administration and is similar to the offer extended broadly across federal agencies earlier this year.Reuters reported that the deferred resignation offer […]

Spotify said it is working to resolve an outage that's preventing its app and website from properly loading on Wednesday morning.The Swedish audio streaming and media service posted on X just before 10 a.m. ET that it is aware of the issues and that the "right team is on it and working on a fix." Spotify elaborated on its community website, saying that some users reported that the app wasn't loading. […]

United Airlines is trimming the number of domestic flights it will offer over the coming months as the industry remains concerned about lackluster demand stemming from the escalation of President Donald Trump's tariffs.The Chicago-based carrier said in a regulatory filing on Tuesday that it is cutting domestic capacity by about 4% starting in the third quarter of 2025, "in response to the current demand environment." The airline's third quarter covers […]