Economic news

An industry consultant thinks Edward Jones' latest bid to start a bank is an attempt to add revenue sources as the traditional brokerage business becomes less lucrative.

Federal Reserve Board member Christopher Waller said he would not be deterred from classifying inflation as "transitory" despite the board's recent experience underestimating inflationary pressures.

Federal Reserve Bank of Chicago President Austan Goolsbee said to understand how banks are faring in the current environment of tariff-induced uncertainty, he'll be watching the relationship between credit spreads and equity markets.

Inflation cooled faster than expected last month, giving the Federal Reserve room to ease monetary policy if the economy weakens suddenly. But tariffs and other policy changes still cloud the outlook for monetary policy.

President Trump placed a 90-day pause on most of his sweeping tariff package, but for banks and other financial market participants, the threat of volatility remains.

The tariff regime unveiled last week by President Donald Trump has injected a significant dose of uncertainty into the banking industry and unleashed the specter of an economic slowdown.

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.

The central bank wants to let Trump's policies play out across the economy before deciding which way to move interest rates, and it's too soon to know what the impacts will be, the Federal Reserve chair said.

Unemployment remained relatively stable amid declining consumer confidence and an emerging trade war, which have roiled markets.