Economic news

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.

After a strong first quarter, America's second-largest bank hailed the resilience of the U.S. consumer, but also forecast rising inflation in the near future.

Bank of America and Oracle are among those tweaking their treasury management and supply chain technology, partly to address clients that face cash management challenges from geopolitical risk.

Half of Gen Z homeowners and 44% of millennial homeowners were at risk of missing at least one mortgage payment over the last two years, ServiceLink found.

Federal Reserve Gov. Michael Barr said in a speech Tuesday that rapidly changing trade policies and conflict in the Middle East are straining rural communities by raising business operating costs.

Former Federal Reserve Vice Chair for Supervision Randal Quarles, who served during President Trump's first term, said members of the Fed board should be removable by the president, but that the decentralized structure of the Fed will ensure that monetary policy decisions remain sound.

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.

Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.

New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.