The solution isn’t to fire Powell, it’s to cure the underlying disease, which is excessive government spending.

Airline sector shows resilience with strong demand and positive earnings, indicating robust consumer and corporate spending despite earlier geopolitical concerns. Netflix reporting after close, remains a streaming leader, but valuation concerns persist; overall, stocks continue mild melt-up with benign retail and jobless data supporting stability.

Amid all the mounting political pressure on the Federal Reserve to resume cutting interest rates, Chair Jay Powell is already overseeing the loosest financial conditions in the U.S. economy since before the central bank started hiking early in 2022.

When central banks are pressured by politicians into overheating the economy, everyone ends up getting burned.

At least three Federal Reserve policymakers spoke out this week in favor of holding interest rates steady for the time being, in contrast to two who said they were open to the idea of cutting the fed funds rate in July,

President Trump has said he may move up the announcement of Powell's replacement, with analysts looking for public debate among FOMC members for clues as to who is "auditioning" for the role.

The debate over Florida's state budget continues in Tallahassee, and the Federal Reserve decided to leave interest rates unchanged for the third time. As the budget battle continues in Tallahassee ...

But lower interest rates can only do so much in the face of high home prices. In May, the median existing home price was $422,800 — the highest ever recorded for the month of May, according to ...

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