Politics

The Federal Reserve's preferred inflation reading fell in March, but the positive reading came before new trade policies hit the economy.

Inflation-adjusted gross domestic product decreased an annualized 0.3% in the first quarter, well below average growth of about 3% in the prior two years, according to the government's initial estimate.

The administration's major moves include weakening the Consumer Financial Protection Bureau and rolling back numerous Biden-era regulations.

At a House subcommittee hearing, Republicans proposed "tailoring" regulations for community banks while Democrats railed against Trump's tariffs and cuts to the Consumer Financial Protection Bureau.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.

Rapid deregulation, tariffs and a campaign to dismantle the Consumer Financial Protection Bureau have defined the early days of President Donald Trump's second term for bankers.

Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., will force the vote Wednesday on a bipartisan resolution aimed at terminating the national emergency declaration used by Donald Trump to impose sweeping tariffs.

The administration has been dogged in its support of cryptocurrency regulation and a push for a stablecoin bill to be signed by the August recess.

As Trump loomed over the election, Mark Carney told supporters he would focus on strengthening Canada's economic independence, including making the nation into an "energy superpower."

By changing the form and function of the federal bureaucracy, questioning judicial review and launching a trade war, the president has injected uncertainty into a government built on predictability and process.