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Federal Reserve to consider first interest rate cut in four years
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Federal Reserve to consider first interest rate cut in four years

By Eric Revell | Fox Business The Federal Reserve on Tuesday begins a highly anticipated two-day meeting where policymakers are expected to cut interest rates for the first time in four years as stubborn inflation shows signs of continuing to ease. The Fed's policymaking arm, the Federal Open Market Committee (FOMC), kicks off its meeting on Tuesday and will announce its decision regarding interest rates on Wednesday, when Fed Chair Jerome Powell will also shed light on the central bank's thinking at a press conference. After its last policy meeting in July, the Fed kept its benchmark federal funds rate steady at a 23-year-high range of 5.25% to 5.5% but opened the door to interest rate cuts if inflation continued to ease. Inflation data showed that price growth slowed t...
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CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’
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CEO of JPMorgan warns US of economic fate worse than recession: ‘The worst outcome’

By Jasmine Baehr  | Fox Business JPMorgan Chase CEO has laid out the "worst outcome" for America's economic future, beyond recession. "The worst outcome is stagflation," said Dimon. "And by the way, I wouldn't take it off the table." 68-year-old Jamie Dimon made his remarks on Tuesday at the Council of Institutional Investors in New York. JPMorgan Chase is the largest bank in the United States according to Bankrate, with $3.4T in assets. Stagflation, a portmanteau of stagnation and inflation, refers to a state where economic growth slows while inflation and unemployment rise. The economic consequences of stagflation may cause retirement savings to go down as well as the stock market to crash; it was last seen in the U.S. during the 1970s, according to Inves...
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Billionaire on SpaceX Polaris Dawn mission conducts first private spacewalk
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Billionaire on SpaceX Polaris Dawn mission conducts first private spacewalk

 By Pilar Arias  | Fox Business Jared Isaacman, CEO of Shift4 integrated payment processing solutions, participated in the first ever private spacewalk by a group of astronauts who left a SpaceX capsule after a delay of a few hours, testing a new line of spacesuits in the company's riskiest mission yet. Along with the billionaire entrepreneur is a retired military fighter pilot and two SpaceX employees. The four have been orbiting Earth aboard Crew Dragon since Tuesday's pre-dawn launch from Florida of the Polaris Dawn mission. Isaacman "egressed Dragon" and conducted his first "suit mobility tests that will test overall hand body control, vertical movement with Skywalker, and foot restraint," according to a SpaceX post on X at 6:53 a.m. READ THE FULL STORY AT FOX BUS...
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Big Lots files for bankruptcy, will close some stores amid sale to investment firm
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Big Lots files for bankruptcy, will close some stores amid sale to investment firm

By  Pilar Arias | Fox Business About three months after Big Lots noted "substantial doubt about the Company's ability to continue" in a U.S. Securities & Exchange Commission (SEC) filing, the company said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital. This comes as the company has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 billion, according to a filing with bankruptcy court in Delaware, which showed creditors in the range of 5,001-10,000. Big Lots cited troubles that began during the COVID-19 pandemic, and "macroeconomic factors such as high inflation and interest rates that are beyond its control." RE...
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Molson Coors scraps ‘woke’ DEI policies in growing trend among U.S. companies
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Molson Coors scraps ‘woke’ DEI policies in growing trend among U.S. companies

By Breck Dumas | Fox Business Molson Coors is rolling back its diversity, equity and inclusion (DEI) initiatives, becoming the latest in a string of iconic American companies to step away from so-called "woke" policies in recent months. Conservative activist and filmmaker Robby Starbuck, who has been leading a campaign exposing major corporations' woke policies, said Tuesday on X that Coors sent him a letter its leadership team had circulated to employees that day to explain the changes after he threatened company executives last week. In the letter, provided to FOX Business from Coors, the company's executives said its human resources team began making plans in March to broaden the view of its DEI polices to ensure all "employees know they are welcome." The company did not commen...
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Elon Musk says Brazilian judge should go to prison in latest attack after X ban upheld in country
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Elon Musk says Brazilian judge should go to prison in latest attack after X ban upheld in country

By Brie Stimson  | Fox Business Elon Musk didn’t mince words on Monday, writing on his X platform that Brazilian Supreme Court Justice Alexandre de Moraes should be arrested.  "De Moraes deserves prison for his crimes," the tech billionaire wrote on X on Sept. 2 after the country’s high court upheld a ban on the social media platform.  The temporary ban was imposed over the weekend after Musk didn’t name a legal representative before a deadline in a case going back months in which the country demanded some accounts be suspended that had been implicated in probes of so-called digital militias accused of spreading misinformation and hate. READ THE FULL STORY AT FOX BUSINESS
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Meta CEO admits Biden-Harris admin pressured company to censor Americans
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Meta CEO admits Biden-Harris admin pressured company to censor Americans

By Greg Wehner | Fox Business Meta CEO Mark Zuckerberg admitted in a letter on Monday that his company, Facebook, was pressured by the Biden-Harris administration to censor Americans, particularly regarding COVID-19 content. Zuckerberg made the admission in a letter to House Judiciary Committee Chairman Jim Jordan, R-Ohio, more than a year after providing the committee with thousands of documents as part of its investigation into content moderation on online platforms. Along with documents, the Meta CEO said, the company has provided a dozen employees to be available for transcribed interviews, stressing Meta’s cooperation with the investigation. READ THE FULL STORY AT FOX BUSINESS
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‘Weaker than reported’ U.S. economy created 818,000 fewer jobs than first accounting
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‘Weaker than reported’ U.S. economy created 818,000 fewer jobs than first accounting

By Megan Henney  | Fox Business U.S. job growth during much of the past year was significantly weaker than previously reported, according to new data published Wednesday. The Bureau of Labor Statistics revised down its total tally of jobs created in the year through March by 818,000 as part of its preliminary annual benchmark review of payroll data. That suggests the economy added an average of 174,000 jobs per month during that time period — below the previous 242,000 estimate. On a monthly basis, that amounts to about 68,000 fewer jobs. It marks the largest downward revision since 2009. READ THE FULL STORY AT FOX BUSINESS
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Budget watchdog: Harris’ economic plan would add over $1.7T to national debt
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Budget watchdog: Harris’ economic plan would add over $1.7T to national debt

By Eric Revell  | Fox Business A key part of Vice President Kamala Harris' newly released economic agenda would add $1.7 trillion to America's growing national debt, according to a budget watchdog. The plan, dubbed an "Agenda to Lower Costs for American Families," was released Friday as Harris lays out her platform in her campaign for president. It includes expansions of the Child Tax Credit and Earned Income Tax Credit, as well as an extension of the health insurance premium subsidies under the Affordable Care Act (aka ObamaCare) that are due to expire at the end of next year. It would also establish a new $25,000 tax credit for first-time homebuyers, expand tax credits for building affordable housing, create a $40 billion housing innovation fund, and seek to lower prescription d...
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After Trump says Harris presidency could lead to ‘1929-style depression’, former WH economist warns it could ‘shut down’ entire economy
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After Trump says Harris presidency could lead to ‘1929-style depression’, former WH economist warns it could ‘shut down’ entire economy

By Kayla Bailey | Fox Business A former White House economist is sounding the alarm on Vice President Kamala Harris' economic agenda after former President Trump warned the U.S. would suffer a "1929-style depression" under a Harris presidency. "My guess is that a lot of the things she said in the past about what she really wants to do, like the Green New Deal, for example… getting carbon-neutral by 2030 – all that kind of stuff would cause a deep recession toward carbon," Kevin Hassett told "The Big Money Show" Thursday.  "Carbon-neutral by 2030 is almost impossible. 75% of our electricity comes from burning fossil fuels. So how are they going to do that if they try it? That you're just going to have to shut down the economy?" READ THE FULL STORY AT FOX BUSINESS...
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