A federal judge on Tuesday blocked President Donald Trump from firing Federal Reserve Governor Lisa Cook, allowing her to continue in her current role, for now, even as lawyers for the administration are expected to immediately appeal the decision to a higher court for review. U.S. District Judge Jia Cobb, a Biden appointee based in Washington, D.C., said on Tuesday that she will be moving Cook's request into a preliminary injunction, which has the same effect, but will last through the entire case until a ...

Apple on Tuesday kicked off an event featuring the unveiling of a new lineup of iPhones headlined by a new thinner smartphone as the tech giant explores new design features. Apple's new thinner smartphone offering is known as the iPhone Air and is expected to be in the middle of the company's iPhone lineup between less expensive iPhone 17 models and more expensive iPhone 17 Pro models.The company said the iPhone Air is its thinnest iPhone ever, and it's only 5.6mm with a 6.5 inch display. It's protected by ...

The Trump administration on Tuesday blasted the Labor Department’s annual jobs revisions, which revealed the U.S. added hundreds of thousands fewer jobs than first thought – the largest correction on record. The revisions, compiled by the Bureau of Labor Statistics, showed that previous jobs reports were overstated by 911,000. The latest adjustment – on the higher end of Wall Street’s expectations – comes as President Donald Trump steps up his calls for the Federal Reserve to cut rates to stimulate the U.S. ...

The Labor Department on Tuesday published the preliminary estimate of its annual benchmark revision to nonfarm payrolls, which showed the U.S. economy added significantly fewer jobs than previously reported. The Bureau of Labor Statistics (BLS) published its first estimate of the annual benchmark revision, which lowered its estimate of employment by about 911,000 jobs over the April 2024 to March 2025 period.BLS goes through the benchmarking process each year to incorporate more accurate data from state une ...

The Senate Banking Committee is set to vote Wednesday on Stephen Miran’s nomination to the Federal Reserve Board of Governors.  If he clears the panel, the full Senate would consider the nomination to the panel that helps chart the nation's economic path. To block him, at least four Republican senators would need to break ranks.MIRAN VOWS INDEPENDENCE, UNPAID LEAVE FROM WHITE HOUSE IF CONFIRMED Miran, the chair of the Council of Economic Advisers (CEA) and a veteran of both Trump administrations, was nomina ...

The United Auto Workers (UAW) labor union is condemning Hyundai for what it calls a "disgraceful record on worker safety" following an immigration raid at an electric car battery factory in Georgia. Most of the 475 people detained on Sept. 4 under suspicion of being in the United States illegally – with at least 300 reportedly hailing from South Korea – were employees of subcontractors, rather than direct employees, LGES and Hyundai Motor Company have said, according to Reuters."For years, Hyundai—including ...

Home prices are rising, which is boosting American homeowners' net worth – though those gains may be eroded by stubbornly high inflation. Data from Realtor.com showed that median home listing prices were up 0.5% in July from a year ago, though the outlet noted in a report that inflation has outpaced those gains and is up 2.7% year over year.That dynamic is known as home equity erosion and occurs when the value of a home rises at a pace that isn't enough to keep up with inflation. As inflation rises at a fas ...

South Korea’s foreign minister departed for the U.S. on Monday following the mass immigration raid by U.S. government officials on the Hyundai-LG battery factory in Georgia last week when some 300 South Koreans were detained.  While speaking with reporters ahead of his trip to the U.S., South Korean Foreign Minister Cho Hyun called it "a grave situation" and said he was in communication with Washington after U.S. immigration authorities on Friday arrested 475 individuals from the plant near Savannah in what ...

Few people think about the Federal Reserve when choosing their lucky Powerball numbers.  Yet, Saturday’s drawing, the third-largest jackpot in U.S. history, is fueled in part by the Fed’s high interest rates. When officials at the Fed and President Donald Trump debate rates, they are most likely not concerned about lottery jackpots. But the unusual stretch of higher rates shows how the same decision can cut both ways—costing some Americans money while boosting the savings of others.  POWERBALL TICKETS SOLD ...

National Economic Council Director Kevin Hassett said on Sunday that the Federal Reserve's monetary policy decisions shouldn't be subject to political influence amid the Trump administration's calls for the central bank to cut interest rates. Hassett appeared on CBS News' "Face the Nation," where host Margaret Brennan cited a CBS poll that found 70% of Americans want the Fed to make decisions independently of President Donald Trump, though 59% of Republicans want the Fed to be guided by what Trump wants. Sh ...