Reuters US Business

By David Lawder WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday goods price inflation will pick up over the course of the summer as President Donald Trump’s tariffs work their way to U.S. consumers, who he argued would bear some of those costs. “Ultimately, the cost of the tariff has to be paid, …

Fed’s Powell says he expects to see more tariff-driven price hikes in coming months Read More »

ZURICH (Reuters) -Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new U.S. dollar millionaires, more than a 1,000 a day, a report published on Wednesday showed. Private individuals’ net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat …

US added over 1,000 new millionaires a day last year, UBS report says Read More »

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The U.S. central bank held interest rates steady on Wednesday and policymakers signaled borrowing costs are still likely to fall in 2025, but Federal Reserve Chair Jerome Powell cautioned against putting too much weight on that view, and said he expects “meaningful” inflation ahead as consumers pay …

Fed keeps rates steady but pencils in two cuts by end of 2025; Powell sees ‘meaningful’ inflation ahead Read More »

By Manya Saini (Reuters) -Shares of stablecoin issuer Circle and crypto exchange Coinbase surged on Wednesday after the U.S. Senate passed a landmark stablecoin bill, boosting hopes of wider adoption for a once-niche part of the crypto sector. The bill was passed with bipartisan support, marking a turning point in the debate over crypto oversight, …

Circle, Coinbase shares soar as Senate clears path for stablecoin regulation Read More »

(Reuters) -Microsoft is planning to cut thousands of jobs, particularly in sales, as the tech giant streamlines its workforce amid increased investments in artificial intelligence, Bloomberg News reported on Wednesday, citing people familiar with the matter. The latest layoffs follow Microsoft’s previous round of job cuts in May, which affected about 6,000 employees. The tech giant …

Microsoft planning thousands of job cuts aimed at salespeople, Bloomberg News reports Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -The S&P 500 ended nearly flat on Wednesday, giving back earlier gains after Federal Reserve Chair Jerome Powell said inflation in goods prices is expected to go up over the summer as President Donald Trump’s tariffs work their way to consumers. The U.S. central bank left interest rates unchanged, …

S&P 500 ends nearly flat, gives back gains; Fed’s Powell says inflation to rise Read More »

By Nichola Groom (Reuters) -In an industrial building in the Salt Lake City suburb of Clearfield, Utah, long strips of U.S.-made steel were fed through machines that punctured, bent and cut them into rods that will soon hold solar panels on rooftops. Next door, workers with rivet tools assembled the pieces into finished products, bundled …

Clean energy has fans in Trump’s America, complicating budget talks Read More »