Money

By Jeanne Sahadi, CNN (CNN) — The Federal Reserve may have a new chairman in Kevin Warsh, but it still has to balance its old dual mandate: Lower rates to boost the economy when the labor market is struggling, or raise rates to cool economic activity when inflation is considered too high. Well, the job

By Bryan Mena, CNN Washington (CNN) — Federal Reserve Chairman Kevin Warsh has promised “regime change.” On Wednesday, after leading his first policy meeting, he made it clear he is serious. Under the new Fed chairman, officials voted Wednesday to hold interest rates steady for the fourth consecutive meeting, leaving their benchmark lending rate at

By Matt Egan, CNN (CNN) — A pair of Senate Democrats are calling for the Trump administration to abandon efforts to build a West Coast emergency oil reserve. In a letter dated Wednesday to Energy Secretary Chris Wright, Sens. Alex Padilla and Patty Murray warn that establishing a West Coast Strategic Petroleum Reserve this fiscal

By Brian Stelter, CNN (CNN) — The New York Knicks’ first championship-clinching win since the 1970s set a ratings record dating back to the 1990s. Saturday night’s Game 5 telecast averaged 24.5 million viewers, making it the most-watched NBA Finals Game 5 since 1998, according to Nielsen ratings figures that were released Tuesday afternoon. Of

By Brian Stelter, CNN (CNN) — Vice President JD Vance is trying to be everywhere this week, appearing on Fox News, CNN, NBC and other networks as he promotes a new memoir in preparation for the 2028 presidential campaign. But of all his appearances thus far, his visit to ABC’s “The View” was unique. It

By David Goldman, CNN (CNN) — SpaceX is now bigger than Microsoft. Its shares are more popular than every other stock on the market, combined. And it just bought an AI company for $60 billion. Today is just SpaceX’s second full day of public trading. The latest splash in its history-making debut is SpaceX’s long-sought

By Matt Egan, CNN New York (CNN) — Kevin Warsh’s dream of becoming Federal Reserve chairman was nearly tarnished by the specter of having to confront simultaneous and conflicting challenges brewing in the US economy. In January, when President Donald Trump nominated Warsh for the top job, the labor market had just wrapped up one

By Chris Isidore, CNN (CNN) — President Donald Trump says the vital Strait of Hormuz has been reopened under terms of an agreement reached Sunday with Iran. Shipping industry sources aren’t so sure. “Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” Trump posted Monday on social media.

By Matt Egan, CNN (CNN) — The amount of oil in the US Strategic Petroleum Reserve plunged last week to the lowest level since 1983 as the Trump administration continues to deploy emergency oil to minimize the damage from the war with Iran. According to federal data released Monday, US officials released another 8.9 million

By Jordan Valinsky, CNN New York (CNN) — Fox is acquiring Roku, the popular streaming TV platform, in a massive $22 billion deal, the companies announced Monday. The transaction makes Fox a much more competitive streaming player, combining Fox’s sports, news and entertainment shows, as well its free Tubi streaming service, with Roku’s devices and

By John Towfighi, CNN (CNN) — SpaceX, Elon Musk’s massive space-exploration-slash-AI company, went public last week in a record-breaking IPO. But even if you’re not buying yet, you could still see the company’s stock in your 401(k) soon via a number of avenues. And if you’re on the other side and want to avoid shares

By Auzinea Bacon, David Goldman, Hanna Ziady, CNN (CNN) — Oil prices sank Monday, hitting their lowest levels in more than three months, after the United States and Iran said they had reached an agreement that would end a US blockade of Iranian ports and reopen the vital Strait of Hormuz. Brent crude, the global

By Bryan Mena, CNN Washington (CNN) — While millions of Americans are struggling to find jobs in a tough labor market, healthcare is emerging as a lifeline for career changers. After six years as a stay-at-home mother, Cynthia Webster, 50, planned last year to reenter the workforce, bracing for a potentially frustrating job search. So

By Jeanne Sahadi, CNN (CNN) — Most financial experts will tell you to wait to claim your Social Security retirement benefits at least until your full retirement age (which is now 67) or even as late as age 70. Why? Your benefit will be permanently lower if you claim at 62, which is the earliest

By Chris Isidore, CNN (CNN) — Elon Musk has many people to thank for becoming the world’s first trillionaire — his companies’ engineers who produced technological breakthroughs, Wall Street investors who were eager to shower him with their dollars despite questionable financials, but most of all, American taxpayers and government policymakers. “There would not be

By Hadas Gold, CNN (CNN) — AI company Anthropic has disabled customer access to its most capable systems after the US government ordered it to suspend all use by foreign nationals, Anthropic said in a statement Friday evening. The move is the latest in a series of adverse Trump administration actions targeting the company. The

By Lisa Eadicicco, CNN (CNN) — Siri is finally getting the big AI upgrade Wall Street has been waiting for. But it’s just the beginning. Apple on Monday announced Siri AI, a major revamp the company hopes will thrust its roughly 15-year-old digital assistant into the spotlight alongside OpenAI’s ChatGPT and Google’s Gemini. The new

By Ramishah Maruf, CNN New York (CNN) — SpaceX’s highly anticipated IPO has officially lifted off. Wall Street rejoiced, everyday investors placed so many buy orders it caused outages on Robinhood for a bit, and the world’s richest man became the world’s first trillionaire. Shares of Elon Musk’s rocket and AI company (SPCX) settled at

By Bryan Mena, CNN Washington (CNN) — Consumer sentiment may finally be recovering after falling to historic lows due to wartime price spikes. The University of Michigan’s latest survey of Americans, released Friday, showed that sentiment rose 9% to a preliminary reading of 48.9 early this month, the first increase since February, before the United