Inflation rose again last month — here are the prices rising most

Inflation is nowhere near as hot as it was when the U.S. economy first emerged from the coronavirus pandemic, but price pressures remain sticky. The overall inflation rate for December edged up for a third straight month to 2.9 percent, largely thanks to energy and gasoline prices surging the most since August 2023, according to the Bureau […]

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Mortgage rates drop slightly but remain near 7%

Mortgage rates fell slightly this week amid a period of market volatility spurred by the Trump administration’s rapidly evolving tariff plans. The average 30-year mortgage rate was 6.89% this week through Wednesday, down from 6.95% a week earlier. Fifteen-year mortgage rates fell to 6.05%, from 6.12%, according to Freddie Mac data. “Mortgage rates have been stable […]

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Trump Treasury secretary Scott Bessent relieves some pressure on the Fed

Treasury Secretary Scott Bessent said Donald Trump is not asking the Federal Reserve to lower its short-term interest rates, but what he and the president do want is to bring down longer-term borrowing costs via 10-year Treasury yields. “He and I are focused on the 10-year Treasury,” Bessent said in an interview with Fox Business’s Larry Kudlow, […]

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The biggest factor that could break the stable labor market

In his most recent press conference, Federal Reserve Chair Jerome Powell characterized the labor market as “broadly stable.” And in this week’s lead-up to the January jobs report, the incoming data that shows little turnover suggests the labor market is holding along with the Fed. This dynamic can be seen across a swath of labor market data. […]

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Warren says Trump was ‘on to a real problem’ when he blasted BofA for debanking customers

Donald Trump and the GOP have a surprising new ally in their push to clamp down on “debanking“: Elizabeth Warren. The Democratic senator from Massachusetts outlined her support for the issue known during a Senate banking committee hearing Wednesday when she commended the president for confronting Bank of America (BAC) CEO Brian Moynihan last month. “Donald Trump […]

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DeepSeek’s Popular AI App Is Explicitly Sending US Data to China

DeepSeek, the explosive new artificial intelligence tool that took the world by storm, has code hidden in its programming which has the built-in capability to send user data directly to the Chinese government, experts told ABC News. DeepSeek caught Wall Street off guard last week when it announced it had developed its AI model for […]

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Alphabet shares fall more than 7% on revenue miss, AI investment boost

Alphabet shares dropped more than 7% premarket Wednesday after the search giant fell short of Wall Street’s fourth-quarter revenue expectations and announced big spending plans for its ongoing artificial intelligence buildout. The company topped earnings estimates by 2 cents per share. Revenues came in at $96.47 billion, behind the $96.56 billion expected by LSEG. Alphabet’s revenues grew 12% […]

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