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President Trump Considers Candidates for Federal Reserve Chair Amid Economic Challenges

President Trump Considers Candidates for Federal Reserve Chair Amid Economic Challenges

President Donald Trump is in the process of selecting a new chairman for the Federal Reserve, as the term of the current chair, Jerome Powell, is set to end on May 15. Trump has expressed dissatisfaction with Powell, who was initially nominated by Trump but later renominated by President Joe Biden. The Federal Reserve plays a crucial role in setting key interest rates that affect lending across the country. Trump is considering two main candidates for the position: former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett. Trump has indicated a preference for a Fed chair who would consult with him on interest rate decisions, a stance that challenges the traditional independence of the Federal Reserve.

President Trump Faces Crucial Decision on Federal Reserve Chair Nomination Amid Economic Challenges

President Trump Faces Crucial Decision on Federal Reserve Chair Nomination Amid Economic Challenges

President Trump is approaching a significant decision regarding the nomination of the next chairman of the Federal Reserve, as Jerome Powell's term is set to end on May 15. Trump has expressed dissatisfaction with Powell, who was initially nominated by Trump and later renominated by President Biden. The Federal Reserve, responsible for setting key interest rates, plays a crucial role in influencing the U.S. economy. Trump is considering candidates such as former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett, both of whom align with his preference for lower interest rates. The decision comes at a time when the Fed is grappling with high inflation and rising unemployment, leading to a divided stance on rate cuts.

Broadcom drags on Wall Street as worries about AI weigh

Broadcom drags on Wall Street as worries about AI weigh

More drops for superstar stocks that soared in Wall Street’s frenzy around artificial-intelligence technology are weighing on the U.S. stock market

Tumbling tech stocks drag Wall Street to its worst day in 3 weeks

Tumbling tech stocks drag Wall Street to its worst day in 3 weeks

More drops for superstars caught up in Wall Street’s artificial-intelligence frenzy knocked the U.S. stock market off its record highs

Tumbling tech drags Wall Street off its records and toward its worst day in 3 weeks

Tumbling tech drags Wall Street off its records and toward its worst day in 3 weeks

More drops for superstars caught up in Wall Street’s artificial-intelligence frenzy are knocking the U.S. stock market off its record highs

European shares gain on boost from banks, Fed cut optimism

European shares gain on boost from banks, Fed cut optimism

Dec 12 (Reuters) - European shares opened higher on Friday, tracking overnight gains on Wall Street after the S&P 500 closed at a record high as investors globally cheered the Federal Reserve's interest rate cut and remained optimistic about more in 2026.

Wall Street sets record highs even as Oracle tumbles on AI worries

Wall Street sets record highs even as Oracle tumbles on AI worries

Wall Street rose to more records even as a sell-off for Oracle and worries about a potential bubble in artificial-intelligence technology weighed on the market

A sell-off for Oracle weighs on Wall Street even as the Dow jumps 465 points

A sell-off for Oracle weighs on Wall Street even as the Dow jumps 465 points

A sell-off for Oracle is weighing on Wall Street as investors question whether its big spending on artificial-intelligence technology will pay off

Citigroup's turnaround progress wins a thumbs-up from J.P. Morgan

Citigroup's turnaround progress wins a thumbs-up from J.P. Morgan

By Manya Saini and Niket Nishant Dec 12 (Reuters) - Citigroup was upgraded by analysts at J.P. Morgan on Friday, in a vote of confidence from the Wall Street brokerage for the third-largest U.S. lender's years-long turnaround efforts under CEO Jane Fraser.

Will it be a hike next year? Five questions for the ECB

Will it be a hike next year? Five questions for the ECB

By Yoruk Bahceli and Stefano Rebaudo LONDON, Dec 12 (Reuters) - The European Central bank meets next Thursday, with traders suddenly speculating a rate hike could be on the cards in 2026.

Broadcom falls as margin pressures add to AI payoff jitters

Broadcom falls as margin pressures add to AI payoff jitters

Dec 12 (Reuters) - Broadcom shares fell nearly 5% before the market open on Friday after the chipmaker said its margins would fall due to a higher mix of AI revenue, adding to worries about the payout from AI.

Nasdaq seeks more power to block IPOs vulnerable to manipulation

Nasdaq seeks more power to block IPOs vulnerable to manipulation

Dec 12 (Reuters) - Nasdaq on Friday proposed a new rule that would allow the exchange to block IPOs even when companies meet all listing standards if it detects red flags that could make a company's stock vulnerable to manipulation.