Economic news

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.

As gas prices surge, small businesses — particularly in agriculture and transportation — have struggled to keep up. For banks, this has brought a combination of short-term benefits and long-term concerns.

Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.

Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.

Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.

As Federal Reserve Chair Jerome Powell gives what is most likely his final press conference as chair Wednesday afternoon, the Federal Open Market Committee is widely expected to keep interest rates steady.

Presumptive Fed Chair Warsh isn't a fan of jawboning, but that is actually, exactly how the central bank gets its point across.

The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom.

Sen. Thom Tillis, R-N.C., said on Sunday that he no longer opposes Kevin Warsh's nomination to serve as chair of the Federal Reserve following the Justice Department's announced closure of its inquiry into current Fed Chair Jerome Powell.

The Columbus, Ohio-based company added to its cash hoard as a cushion against any economic dislocation connected to the conflict in the Middle East. The move narrowed Huntington's expected net interest margin for 2026.

The card network and the video platform are issuing a credit card in the U.K. to address irregular compensation patterns for creators.

Economists and policy analysts say a prolonged disruption in the Strait of Hormuz — and uncertainty about the duration of the conflict — could drive up inflation and further weaken consumer sentiment, which could weigh on bank earnings.

Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.

Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.

As the Senate Banking Committee is slated to consider the nomination of former Federal Reserve Gov. Kevin Warsh to lead the central bank, an ongoing investigation by the Justice Department into Fed chair Jerome Powell makes the nomination's passage out of committee uncertain.

Wells Fargo CEO Charlie Scharf said bankers and economists are broadly against lowering interest rates now, given uncertainty from the Iran war.

Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook — and, by extension, the Federal Reserve's monetary policy path.

The Cleveland company's merger-and-acquisition pipeline is bursting with deals, said CEO Chris Gorman, but geopolitical concerns are causing some clients to "slow-play" their transactions.

Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.

President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.