The Federal Reserve’s independence from the White House has long been enshrined in the law. But an executive order that President Trump signed this week seeking to extend his administration’s reach over independent agencies is prompting concerns about how much further he will go to challenge that separation. Mr. Trump’s directive took aim at regulatory … Read more
Almost every day, Grant Lee, a Silicon Valley entrepreneur, hears from investors who try to persuade him to take their money. Some have even sent him and his co-founders personalized gift baskets. Mr. Lee, 41, would normally be flattered. In the past, a fast-growing start-up like Gamma, the artificial intelligence start-up he helped establish in … Read more
American manufacturing has been in the doldrums for years, battered by high borrowing costs and a strong dollar, which makes exports less competitive. But there has been a bright spot: billions of dollars flowing into factory construction, signifying that a potential rebound in production and employment is around the corner. The flood of investment has … Read more
President Trump’s pick as labor secretary faced pointed questions from both parties at her Senate confirmation hearing on Wednesday over her past support for pro-union legislation, an issue that could complicate her nomination. The nominee, Lori Chavez-DeRemer, a former Republican congresswoman, was pressed repeatedly about her stand on the Protecting the Right to Organize Act, … Read more
During the Biden administration, Donald J. Trump would sit in his mirrored and gold-trimmed salon at Mar-a-Lago where he had once hosted China’s leader, Xi Jinping, brooding to visitors about the outcome of the trade agreement he signed with China in 2020. Mr. Trump would castigate “stupid people” in the White House for failing to … Read more
The Senate on Tuesday voted 51 to 45 to confirm Howard Lutnick to be President Trump’s commerce secretary, putting in place one of the administration’s top economic officials who will help oversee an agenda around tariffs and protectionism. Mr. Lutnick, who was the chief executive of the financial services firm Cantor Fitzgerald, became a central … Read more
As President Trump’s efforts to restructure the global trade system with expansive tariffs begin to take shape, one question continues to dog officials at the Federal Reserve: How will these policies impact the central bank’s plans to lower interest rates? One influential Fed governor made clear on Monday that he did not expect Mr. Trump’s … Read more
Amazon workers voted overwhelmingly against a bid to unionize their North Carolina warehouse, the National Labor Relations Board said on Saturday, the latest setback in labor organizing efforts at the e-commerce giant. Workers at the RDU1 fulfillment center in Garner, outside of Raleigh, voted 2,447 to 829 against unionizing with Carolina Amazonians United for Solidarity … Read more
It is an axiom heard countless times in business school lecture halls and on corporate earnings calls: Uncertainty is bad for business. The U.S. economy is about to test that proposition like never before. The first weeks of the second Trump administration have been a dizzying whirlwind of economic policy moves: A spending freeze was … Read more
President Trump on Thursday ordered his advisers to determine new tariff rates on America’s trading partners, a move that he said would “correct longstanding imbalances in international trade.” As part of his plan, Mr. Trump has taken aim at the value-added tax, a system used widely in Europe and elsewhere to tax the consumption of … Read more