Banking and Financial Institutions – The United State Media

The Fed Could Be on Hold Until September, Economists Say

Reporter USMay 9, 2025

More than 20 times during a roughly 45-minute news conference on Wednesday, Jerome H. Powell, the chair of the Federal Reserve, referenced the idea of waiting to see how President Trump’s policies would ripple through the economy before taking any action on interest rates. Mr. Powell, who spoke after the Fed opted to extend a […]

Toyota Says Tariffs Will Erase .3 Billion in Profits in Just 2 Months

Toyota Says Tariffs Will Erase $1.3 Billion in Profits in Just 2 Months

Reporter USMay 8, 2025

A year ago, the world’s biggest automaker was on a tear. American consumers were snapping up Toyota Motor’s hybrids, and a weak yen inflated the value of the company’s earnings. That May, Toyota reported the highest annual profit ever recorded by a Japanese firm. On Thursday, Toyota presented a significantly more somber outlook, projecting that […]

What the Fed’s Rate Decision Means for Loans, Credit Cards, Mortgages and More

Reporter USMay 7, 2025

The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage point last year. That means consumers looking to borrow are likely to have to wait a bit longer for better deals on many loans, but savers will benefit from steadier […]

What to Watch at the Federal Reserve’s May Meeting

Reporter USMay 7, 2025

The Federal Reserve is set to extend its pause on interest rate cuts on Wednesday amid concerns that President Trump’s tariffs will unleash fresh inflationary pressures while also hurting growth, a tricky combination that could lead to painful trade-offs for the central bank. A decision to stand pat would keep interest rates at 4.25 percent […]

China Cuts Interest Rates to Shore Up Economy Hit by Trade War

Reporter USMay 7, 2025

China’s central bank cut interest rates and made it easier on Wednesday for banks to increase lending and pump more money into the economy, in the most significant policy steps taken by Chinese officials to limit the impact of the trade war with the United States. The central bank, the People’s Bank of China, cut […]

Credit Suisse Pays 0 Million Fine for Helping Clients Evade Taxes

Credit Suisse Pays $510 Million Fine for Helping Clients Evade Taxes

Reporter USMay 5, 2025

The toll for misconduct at the fallen Swiss bank Credit Suisse just keeps getting bigger. Federal prosecutors said on Monday that UBS, which rescued Credit Suisse from the brink of collapse two years ago, would pay $510 million in fines for the role Credit Suisse played in helping clients evade taxes. Credit Suisse, among other […]

The Fed Isn’t Likely to Cut Rates Proactively Despite Economic Concerns. Here’s Why.

Reporter USMay 5, 2025

Less than a year ago, the Federal Reserve took decisive action to bolster the U.S. economy. With inflation easing and the labor market starting to soften, the central bank opted to go big, lowering interest rates by half a percentage point and signaling further cuts to come. Rather than a panicky response to a crisis […]

Why Designated Beneficiaries Are Key to Your Estate Planning

Reporter USMay 3, 2025

Before Zygmund Furmaniuk’s aunt Mary died in 2023, she set up a trust to hold her assets and to distribute her estate, which was valued at nearly $1 million. A retired chemistry teacher, Mary Furmaniuk was single and had no children. Creating the trust, Mr. Furmaniuk said, was her way of making sure her assets […]

U.S. Dollar Falls. The Euro Could Step Up as Reserve Currency

Reporter USMay 1, 2025

The U.S. dollar has fallen about 9 percent in the past three months, according to an index that tracks its performance against a basket of major trading partners. Not since the 1970s has the currency performed so badly in a president’s first 100 days. The drop isn’t surprising. The U.S. economic outlook is far cloudier […]

Trump’s Tariffs Lead Japan to Slash Its Economic Growth Forecast

Reporter USMay 1, 2025

The growing list of major economies warning of weaker growth because of U.S. tariffs has a new member. The Bank of Japan said on Thursday that it expects the Japanese economy to grow 0.5 percent in the fiscal year that started on April 1. That is a sharp downgrade from the 1.1 percent the central […]