Tax, Finance and the Economy
The latest news, analysis and updates on tax, financial and economic politics and policy.
Treasury Department considers minting a $1 Trump coin
The draft design of the coin, which was overseen by the Office of the U.S. Treasurer Brandon Beach, features Trump’s profile on one side of the coin.
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Trump’s approval holds steady despite unpopular policies, per new NYT poll
Trump’s strength with Republicans on the economy could prove to be a boon for the GOP.
Trump admin looks at deep cuts to homeless housing program
A new policy change will significantly cut funding used to place people experiencing homelessness in permanent housing.
Inflation remains elevated. That won’t keep the Fed from cutting rates.
The latest report on prices suggests that the economy is faring well even against the backdrop of high borrowing costs.
Trump-pledged support for Argentina stirs anger among Republicans
Powerful agriculture groups and their Republican allies in Congress are sounding alarms about the deal.
Trump’s economy bounces on consumer spending surge
Still, many economists are skeptical that growth will continue at the same rate through the end of the year.
‘A race to the bottom’: SEC’s planned pullback on decades-old rules draws backlash
The plans have triggered concern among pension funds and investor advocacy groups, who fear that the changes could deprive them of key information about public companies, and have caused a split on the SEC itself.
Trump asks the Supreme Court to let him fire Federal Reserve board member Lisa Cook
The president’s attempt to fire Cook marks his most significant effort to reshape the central bank board.
‘No risk-free paths': Fed cuts rates as Trump ally presses central bank to go bigger
It was the central bank’s first rate reduction in Trump’s second term and comes after months of strident attacks by the president on Fed Chair Jerome Powell.
IMF eying top Treasury official for No. 2 post
The appointment would place a Trump ally near the top of the institution at a time when Treasury Secretary Scott Bessent has been calling for reforms.
Trump crashes the Fed’s consensus
The threat of stagflation means the risk of getting the policy wrong is high for Powell — and no less so for Trump, whose presidency could ride on the outcome.
Senate confirms Trump adviser Miran to Fed board
Miran’s addition to the board will be the president’s first concrete mark on the institution during his second term.
‘Scary’: Why Kevin Hassett’s friends are afraid he’ll become Fed chair
Some see his bold public comments on the central bank as a potential threat to the Fed’s independence from politics should he be tapped as chair.
New poll reveals warning signs for Trump with Latino voters
A survey from the liberal-leaning group Somos Votantes shows Latino voters are souring on the president.
Trump is selling a strong economy. Voters aren’t buying it.
Privately, aides concede voters remain uneasy about prices but argue their policies are beginning to turn things around.
Inflation jumps as Trump, Powell confront weakening labor market
The crosscurrents of higher prices and a softening job market pose a major headache for Fed policymakers as they prepare to meet next week.
Trump’s pick to run Wall Street regulator fires back at Winklevoss
Brian Quintenz shared screenshots on X of what he said were messages from late July between himself and the Winklevoss brothers that related to a recent settlement between the CFTC and their crypto company, Gemini.
Senate panel advances Miran’s Fed nomination
Senate Republicans are rushing to confirm Stephen Miran before the Fed’s mid-month rate-setting meeting, which begins on Sept. 16.
Judge blocks Trump’s bid to fire Lisa Cook from Federal Reserve board
Federal law gives Trump the power to fire members of the Federal Reserve Board of Governors “for cause,” which typically means serious misconduct or malfeasance on the job.
Gasoline’s hit to Americans’ wallets expected to hit a 20-year low
Spending on gasoline will average less than 2 percent of drivers’ disposable income this year, the Energy Information Administration predicted in a bit of welcome economic news for President Donald Trump.
‘He’s a nut’: Hill Republicans sour on Trump housing official Bill Pulte
Republican lawmakers privately say they are fed up with the outspoken Federal Housing Finance Agency director.
The rough road ahead for market whisperer Bessent
Throughout Trump’s second term, Bessent has built credibility with financial markets, cementing his role as a power center in the administration.
Trump’s job market is struggling, building the case for steeper Fed rate cuts
The report comes as both elevated interest rates and Trump’s sweeping tariffs weigh on an economy that depends on consumer spending.
Senate Republicans face a surprise new Fed dilemma
GOP lawmakers are continuing to give the White House the benefit of the doubt.
House Republicans launch bill to extend health subsidies past midterms
It’s the latest sign the GOP sees political peril in letting enhanced Affordable Care Act tax credits expire at the year’s end.
Trump’s Fed pick poised to face Senate grilling
Fed board nominee Stephen Miran’s confirmation hearing is set to become a clash over the central bank’s independence.
Inflation is climbing. Trump might still get lower rates.
Fed Chair Powell suggested the central bank could cut rates at its Sept. 16-17 meeting.
Trump housing official brings new allegation against Fed’s Cook
The moves against Cook come as Trump has relentlessly pushed the central bank to lower interest rates.
Stephen Miran wants to rewrite the rules of the Fed
If Miran joins the board, his extensive critiques of the central bank would make him a rare iconoclast within an institution that strives for consensus.
For targets of Trump’s retribution, this is the lawyer on speed dial
Abbe Lowell’s newest client is Lisa Cook, the Fed board member whom Trump is trying to fire.