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Business

Tax on imported drugs risks higher prices and shortages

WASHINGTON (AP) — President Donald Trump has plastered tariffs on products from almost every country on earth. He’s targeted specific imports including autos, steel and aluminum. But he isn’t done yet. Trump has promised to impose hefty import taxes on pharmaceuticals, a category of ...

Fed governor’s lawyer says she’ll sue Trump to keep her job

WASHINGTON (AP) — Federal Reserve Gov. Lisa Cook will sue President Donald Trump's administration to try to prevent him from firing her, her lawyer said Tuesday. The announcement makes it more likely that a high-stakes legal battle will ensue that will probably end up at the Supreme Court, ...

Consumer confidence dips

WASHINGTON (AP) — Americans' view of the U.S. economy declined modestly in August as anxiety over a weakening job market grew for the eighth straight month. The Conference Board said Tuesday that its consumer confidence index ticked down by 1.3 points to 97.4 in August, down from July's ...

Powell faces fresh challenges to Fed independence amid potential rate cuts

WASHINGTON (AP) — Now that Federal Reserve Chair Jerome Powell has signaled that the central bank could soon cut its key interest rate, he faces a new challenge: how to do it without seeming to cave to the White House's demands. For months, Powell has largely ignored President Donald ...

Wall Street soars on hopes for lower interest rates

NEW YORK (AP) — Wall Street rallied to its best day in months on Friday after the head of the Federal Reserve hinted that cuts to interest rates may be on the way, along with the kick they can give the economy and investment prices. The S&P 500 leaped 1.5% for its first gain in six days ...