Feed MRSS-S jerome_hayden_powell_a, english.elpais.com en-us https://english.elpais.com Fri, 10 Apr 2026 13:55:49 GMT https://english.elpais.com/economy-and-business/2026-04-10/us-inflation-jumped-to-33-in-march-the-highest-level-in-two-years-driven-by-the-war-in-iran.html Fri, 10 Apr 2026 13:55:49 GMT https://english.elpais.com/economy-and-business/2026-04-10/us-inflation-jumped-to-33-in-march-the-highest-level-in-two-years-driven-by-the-war-in-iran.html Jesús-Sérvulo González Moreno Prices record their sharpest monthly increase — 0.9% — since May 2022, at the outset of Russia’s invasion of Ukraine Prices record their sharpest monthly increase — 0.9% — since May 2022, at the outset of Russia’s invasion of Ukraine Irán Donald Trump Jerome Powell Nam Y. Huh (AP) US Energy Crisis A gas station in Morton Grove, Illinois. A gas station in Morton Grove, Illinois. <p>The consequences of the war in Iran are unavoidable. Inflation is resurging as missiles fall on Tehran, and the specter of a new price crisis is rekindling fears among central banks. Inflation climbed to 3.3% in March in the United States — the highest level since April 2024, during the comedown from the price surge triggered by Russia’s invasion of Ukraine — according to the Bureau of Labor Statistics (BLS), which compiles these figures.</p><p><a href="https://english.elpais.com/economy-and-business/2026-04-10/us-inflation-jumped-to-33-in-march-the-highest-level-in-two-years-driven-by-the-war-in-iran.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html Wed, 18 Mar 2026 15:06:39 GMT https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html Jesús-Sérvulo González Moreno Meanwhile the White House continues to pressure the Fed, delaying Senate confirmation of a replacement for Chair Jerome Powell, whose term ends in May Meanwhile the White House continues to pressure the Fed, delaying Senate confirmation of a replacement for Chair Jerome Powell, whose term ends in May Jerome Powell Donald Trump Irán Teherán Jonathan Ernst (REUTERS) FILE PHOTO: U.S. Federal Reserve Chair Powell attends a press conference in Washington Federal Reserve Chairman Jerome Powell following the board meeting last January. Federal Reserve Chairman Jerome Powell following the board meeting last January. <p>The <a href="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html" target="_self" rel="" title="https://english.elpais.com/international/2026-03-18/iran-maintains-its-threat-in-the-strait-of-hormuz-despite-opening-passage-to-some-vessels-from-non-combatant-countries.html">war with Iran</a> was expected to last four or five weeks, but Tehran’s reaction—a blockade of the Strait of Hormuz, the waterway through which a fifth of the world’s oil passes—has triggered a surge in energy markets. U.S. President Donald Trump insists the attacks will soon cease, but he is asking allies for help in securing this strategic Middle Eastern passage, while analysts speculate about how long the oil blockade will last.</p><p><a href="https://english.elpais.com/economy-and-business/2026-03-18/federal-reserve-expected-to-keep-interest-rates-steady-over-iran-war-uncertainty.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-02-02/the-dollars-decline-a-financial-reflection-of-trumps-chaotic-policy-and-a-double-edged-electoral-weapon.html Mon, 02 Feb 2026 17:11:23 GMT https://english.elpais.com/economy-and-business/2026-02-02/the-dollars-decline-a-financial-reflection-of-trumps-chaotic-policy-and-a-double-edged-electoral-weapon.html Jesús-Sérvulo González Moreno,Nuño Rodrigo The White House is looking to the economy as a way to reverse its poor approval ratings while markets adapt to a new world order The White House is looking to the economy as a way to reverse its poor approval ratings while markets adapt to a new world order Donald Trump Wall Street Euro Jerome Powell Charlie Neibergall (AP) dólar Donald Trump at a rally in Clive, Iowa. Donald Trump at a rally in Clive, Iowa. <p>A few dozen German and French soldiers <a href="https://english.elpais.com/usa/2026-01-21/trump-announces-framework-for-greenland-deal-and-withdraws-the-threat-of-tariffs.html" target="_self" rel="" title="https://english.elpais.com/usa/2026-01-21/trump-announces-framework-for-greenland-deal-and-withdraws-the-threat-of-tariffs.html">flying toward the Greenland ice sheet</a> is not, at first glance, the image of a pivotal moment for Western Europe, much less the kind of event capable of moving the endless roulette wheel of the markets or impacting the U.S. economy. But the financial world takes note of almost everything. The fall of the dollar, which has lost a fifth of its value against the euro since 2025, is the most tangible reflection of how money, through a series of shocks, has adapted to a world—that of Donald Trump—where the old rules no longer apply. Conversely, the Republican’s decision to nominate Kevin Warsh to chair the Fed is yet another sign that the White House regards Wall Street with respect.</p><p><a href="https://english.elpais.com/economy-and-business/2026-02-02/the-dollars-decline-a-financial-reflection-of-trumps-chaotic-policy-and-a-double-edged-electoral-weapon.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-01-23/sell-america-the-two-words-that-sum-up-the-markets-break-with-an-out-of-control-trump.html Fri, 23 Jan 2026 11:02:53 GMT https://english.elpais.com/economy-and-business/2026-01-23/sell-america-the-two-words-that-sum-up-the-markets-break-with-an-out-of-control-trump.html Nuria Salobral Investors welcomed the Greenland agreement with relief, but the attack on JP Morgan raises new concerns. The Trump era is pushing investors to reduce their exposure to the US, a trend expected to continue in the medium and long term Investors welcomed the Greenland agreement with relief, but the attack on JP Morgan raises new concerns. The Trump era is pushing investors to reduce their exposure to the US, a trend expected to continue in the medium and long term Wall Street Donald Trump JP Morgan Jamie Dimon Jerome Powell SARAH YENESEL (EFE) ‘Sell America’ Traders on the floor of the New York Stock Exchange in January 2026. Traders on the floor of the New York Stock Exchange in January 2026. <p>Investors finally reacted this week with a wave of selling in response to Donald Trump’s <a href="https://english.elpais.com/international/2026-01-22/why-is-greenland-danish-would-it-be-defended-by-nato-the-key-questions-about-the-arctic-island-trump-wants-to-annex.html" target="_self" rel="" title="https://english.elpais.com/international/2026-01-22/why-is-greenland-danish-would-it-be-defended-by-nato-the-key-questions-about-the-arctic-island-trump-wants-to-annex.html">expansionist ambitions in Greenland</a>. They had remained almost unfazed by the military attack on Caracas and the arrest of Nicolás Maduro, or the threat of intervention in Iran, but the White House’s determination to annex Greenland and the announcement of tariffs on European countries that had deployed troops to the island proved to be the trigger for selling off U.S. assets. Trump’s policies were once again setting off alarm bells in the markets, with decisions that could not only <a href="https://english.elpais.com/international/2026-01-23/davos-highlights-the-deterioration-of-americas-international-standing.html" target="_self" rel="" title="https://english.elpais.com/international/2026-01-23/davos-highlights-the-deterioration-of-americas-international-standing.html">bring geopolitical tension</a> but also tangible effects on economic growth, inflation—with a further tightening of tariffs—and corporate profits. A Danish pension fund epitomized these concerns and, in a move that was part retaliation and part financial strategy, announced on Tuesday that it was divesting its entire portfolio of U.S. sovereign debt.</p><p><a href="https://english.elpais.com/economy-and-business/2026-01-23/sell-america-the-two-words-that-sum-up-the-markets-break-with-an-out-of-control-trump.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-01-13/trumps-harassment-of-fed-reserve-chairman-meets-with-resistance-from-congress.html Tue, 13 Jan 2026 11:15:20 GMT https://english.elpais.com/economy-and-business/2026-01-13/trumps-harassment-of-fed-reserve-chairman-meets-with-resistance-from-congress.html Jesús-Sérvulo González Moreno The US president needs Senate approval to appoint a successor to Jerome Powell, who is under criminal investigation The US president needs Senate approval to appoint a successor to Jerome Powell, who is under criminal investigation Jerome Powell Donald Trump Washington D.C. Janet Yellen Alan Greenspan Harry S. Truman Elizabeth Warren Jonathan Ernst (REUTERS) Trump’s harassment of Fed Reserve Jerome Powell at a press conference in June 2025. Jerome Powell at a press conference in June 2025. <p>The vicious campaign of harassment waged by U.S. President Donald Trump against <a href="https://english.elpais.com/economy-and-business/2025-07-21/trump-vs-too-late-powell-anatomy-of-the-campaign-to-harass-and-take-down-the-fed-chairman.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-07-21/trump-vs-too-late-powell-anatomy-of-the-campaign-to-harass-and-take-down-the-fed-chairman.html">Federal Reserve Chairman Jerome Powell</a> represents one of the most significant attempts at political interference in the institution’s history. But Trump’s offensive to undermine the Fed’s autonomy now faces resistance from Congress, which threatens to become the last bulwark against the White House’s assault on the Federal Reserve.</p><p><a href="https://english.elpais.com/economy-and-business/2026-01-13/trumps-harassment-of-fed-reserve-chairman-meets-with-resistance-from-congress.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-01-12/fed-chair-jerome-powell-announces-he-is-under-criminal-investigation.html Mon, 12 Jan 2026 08:30:11 GMT https://english.elpais.com/economy-and-business/2026-01-12/fed-chair-jerome-powell-announces-he-is-under-criminal-investigation.html Jesús-Sérvulo González Moreno Prosecutors are investigating whether the economist lied during his testimony before the Senate about the renovation of the Fed’s Washington headquarters Prosecutors are investigating whether the economist lied during his testimony before the Senate about the renovation of the Fed’s Washington headquarters Jerome Powell Donald Trump Washington D.C. Kevin Lamarque (REUTERS) U.S. Federal Reserve Chair Powell holds a press conference, at the U.S. Federal Reserve in Washington Federal Reserve Chairman Jerome Powell during the last December meeting Federal Reserve Chairman Jerome Powell during the last December meeting <p>After months of<a href="https://english.elpais.com/economy-and-business/2026-01-01/world-economy-in-2026-three-scenarios-and-a-dystopia.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2026-01-01/world-economy-in-2026-three-scenarios-and-a-dystopia.html"> attacks from U.S. President Donald Trump</a>, the pressure on Federal Reserve Chair Jerome Powell has now escalated. Powell confirmed on Sunday that the U.S. Justice Department has opened a criminal investigation into him over renovation work at the institution’s headquarters in Washington. Federal prosecutors are investigating whether Powell lied during his appearance before Congress last summer to explain the details of the project, according to <i>The New York Times</i>.</p><p><a href="https://english.elpais.com/economy-and-business/2026-01-12/fed-chair-jerome-powell-announces-he-is-under-criminal-investigation.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2026-01-01/world-economy-in-2026-three-scenarios-and-a-dystopia.html Thu, 01 Jan 2026 11:20:19 GMT https://english.elpais.com/economy-and-business/2026-01-01/world-economy-in-2026-three-scenarios-and-a-dystopia.html Amanda Mars Uncertainty is increasingly complicating economic forecasts, but all eyes are on Trump, Ukraine, and AI. Europe’s future hangs in the balance between France and Germany Uncertainty is increasingly complicating economic forecasts, but all eyes are on Trump, Ukraine, and AI. Europe’s future hangs in the balance between France and Germany Coronavirus Donald Trump BlackRock China Jerome Powell Taiwán Venezuela Warren Buffett Costfoto/NurPhoto/Getty Steel pipes at a processing plant in Zhangye City, China, on September 15. Steel pipes at a processing plant in Zhangye City, China, on September 15. <p>Economists have predicted nine of the last five recessions, goes the old joke about the profession, and like all jokes, it contains a grain of truth: most forecasts are wrong, and major crises, like the one in 2008, catch the world off guard. Now it seems the opposite is true. The global economy has gone 15 consecutive years without a widespread recession, apart from the brief pause caused by the pandemic, despite the serious polycrisis that has threatened it since 2020. Covid-19 was followed by the worst inflationary surge in 40 years, which central banks combated with an abrupt increase in interest rates. The <a href="https://english.elpais.com/international/2025-12-30/trump-claims-peace-in-ukraine-is-near-but-moscow-suggests-otherwise.html" target="_self" rel="" title="https://english.elpais.com/international/2025-12-30/trump-claims-peace-in-ukraine-is-near-but-moscow-suggests-otherwise.html">Russian invasion of Ukraine</a> triggered a severe energy shock in Europe, and upon returning to the White House, <a href="https://english.elpais.com/economy-and-business/2025-04-02/trump-declares-a-trade-war-on-the-world-with-universal-tariffs-of-10-and-higher-rates-on-his-main-trading-partners.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-04-02/trump-declares-a-trade-war-on-the-world-with-universal-tariffs-of-10-and-higher-rates-on-his-main-trading-partners.html">Donald Trump declared a global trade war</a>.</p><p><a href="https://english.elpais.com/economy-and-business/2026-01-01/world-economy-in-2026-three-scenarios-and-a-dystopia.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-12-10/a-divided-federal-reserve-cuts-interest-rates-by-025-points-amid-fears-of-a-deteriorating-labor-market.html Wed, 10 Dec 2025 20:23:41 GMT https://english.elpais.com/economy-and-business/2025-12-10/a-divided-federal-reserve-cuts-interest-rates-by-025-points-amid-fears-of-a-deteriorating-labor-market.html Jesús-Sérvulo González Moreno The Fed expects to continue cutting rates in January amid pressure from the White House The Fed expects to continue cutting rates in January amid pressure from the White House Donald Trump Washington D.C. Jerome Powell Manuel Balce Ceneta (AP) Federal Reserve Federal Reserve Chairman Jerome Powell. Federal Reserve Chairman Jerome Powell. <p>In a tense and unusually divided meeting, <a href="https://english.elpais.com/economy-and-business/2025-12-10/fed-prepares-for-another-rate-cut-amid-growing-pressure-from-trump.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-12-10/fed-prepares-for-another-rate-cut-amid-growing-pressure-from-trump.html">the U.S. Federal Reserve</a> decided to cut interest rates by 0.25 percentage points to a range of 3.5% to 3.75%. This is the third consecutive rate cut since September, as concerns about a deteriorating labor market outweigh fears of rising inflation. The final meeting of the year also yielded new economic forecasts and offered some clues about the <a href="https://english.elpais.com/economy-and-business/2025-03-20/keys-to-the-cursed-words-of-the-feds-new-roadmap.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-03-20/keys-to-the-cursed-words-of-the-feds-new-roadmap.html">Fed’s roadmap for 2026</a>.</p><p><a href="https://english.elpais.com/economy-and-business/2025-12-10/a-divided-federal-reserve-cuts-interest-rates-by-025-points-amid-fears-of-a-deteriorating-labor-market.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-12-10/fed-prepares-for-another-rate-cut-amid-growing-pressure-from-trump.html Wed, 10 Dec 2025 09:38:19 GMT https://english.elpais.com/economy-and-business/2025-12-10/fed-prepares-for-another-rate-cut-amid-growing-pressure-from-trump.html Jesús-Sérvulo González Moreno The market is pricing in a quarter-point cut as the debate intensifies over Jerome Powell’s successor at an institution that is more divided than ever The market is pricing in a quarter-point cut as the debate intensifies over Jerome Powell’s successor at an institution that is more divided than ever Donald Trump Jerome Powell Citibank Allianz Elizabeth Frantz (REUTERS) Fed Federal Reserve Chairman Jerome Powell during the press conference following the last meeting of the board. Federal Reserve Chairman Jerome Powell during the press conference following the last meeting of the board. <p>When Wall Street is talking more about <a href="https://english.elpais.com/economy-and-business/2025-12-08/the-prospect-of-a-trump-aligned-fed-chair-is-rattling-the-markets.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-12-08/the-prospect-of-a-trump-aligned-fed-chair-is-rattling-the-markets.html">Jerome Powell’s successor</a> at the head of the Federal Reserve than about the central bank’s actions at its meeting this Wednesday, it’s a sign of an anomaly in the market. The White House makes no secret of its desire to replace Powell — who has been insulted, harassed, and denigrated by Trump — with a loyal, compliant, and docile man like Kevin Hassett, the top White House economic adviser.</p><p><a href="https://english.elpais.com/economy-and-business/2025-12-10/fed-prepares-for-another-rate-cut-amid-growing-pressure-from-trump.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-12-08/the-prospect-of-a-trump-aligned-fed-chair-is-rattling-the-markets.html Mon, 08 Dec 2025 13:40:31 GMT https://english.elpais.com/economy-and-business/2025-12-08/the-prospect-of-a-trump-aligned-fed-chair-is-rattling-the-markets.html Jesús-Sérvulo González Moreno,Laura Salces Acebes Kevin Hassett, the US president’s chief economic adviser, is the most likely candidate. Fund managers fear political interference at the Fed Kevin Hassett, the US president’s chief economic adviser, is the most likely candidate. Fund managers fear political interference at the Fed Jerome Powell Donald Trump Washington D.C. Scott Bessent Brian Snyder (REUTERS) Trump-aligned Fed chair Kevin Hassett, director of the National Economic Council, flanks Donald Trump in the Oval Office alongside Scott Bessent. Kevin Hassett, director of the National Economic Council, flanks Donald Trump in the Oval Office alongside Scott Bessent. <p>A mere smile from Donald Trump is enough to unsettle investors. The U.S. president admitted last week that he had narrowed the list of contenders to replace Jerome Powell as the next Federal Reserve chair down to a single candidate. Although he will delay the official appointment until after the holiday season, the Republican president flashed a slight smile when reporters asked whether he had chosen Kevin Hassett, director of the National Council of Economic Advisers and one of his top advisers.</p><p><a href="https://english.elpais.com/economy-and-business/2025-12-08/the-prospect-of-a-trump-aligned-fed-chair-is-rattling-the-markets.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-11-08/why-the-us-economy-appears-to-be-inoculated-against-trumps-turbulences.html Sat, 08 Nov 2025 04:00:00 GMT https://english.elpais.com/economy-and-business/2025-11-08/why-the-us-economy-appears-to-be-inoculated-against-trumps-turbulences.html Jesús-Sérvulo González Moreno The tariffs are slowing down economic activity, but causing less damage to inflation and employment than anticipated. The stock market is at record highs, and consumer spending and wages are rising The tariffs are slowing down economic activity, but causing less damage to inflation and employment than anticipated. The stock market is at record highs, and consumer spending and wages are rising Donald Trump Jerome Powell Kamala Harris Elon Musk China Kristalina Georgieva DPA vía Europa Press (DPA vía Europa Press) US economy US President Donald Trump toasts after reaching an agreement with the President of South Korea. US President Donald Trump toasts after reaching an agreement with the President of South Korea. <p>The U.S. economy seems immune to the turbulence created by Donald Trump. The first year of his second term in the White House has been fraught with upheaval due to his eagerness to impose a headlong agenda with a marked protectionist approach. Businesses are now inoculated against the vertigo and the uncertainty surrounding the Republican president. </p><p><a href="https://english.elpais.com/economy-and-business/2025-11-08/why-the-us-economy-appears-to-be-inoculated-against-trumps-turbulences.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-10-31/us-government-shutdown-plunges-the-country-into-a-statistical-blackout.html Fri, 31 Oct 2025 14:21:26 GMT https://english.elpais.com/economy-and-business/2025-10-31/us-government-shutdown-plunges-the-country-into-a-statistical-blackout.html Jesús-Sérvulo González Moreno The estimated cost of the closure could be as much as $14 billion, according to the Congressional Budget Office The estimated cost of the closure could be as much as $14 billion, according to the Congressional Budget Office Donald Trump Washington D.C. Jerome Powell JIM LO SCALZO (EFE) Speaker Johnson and Small Business Administrator Loeffler speak on the government shutdown Republican Speaker of the House Mike Johnson holds a press conference to blame Democrats for the government shutdown. Republican Speaker of the House Mike Johnson holds a press conference to blame Democrats for the government shutdown. <p>“Due to a lapse in appropriations, this website is not being updated” is <a href="https://www.bea.gov/" target="_blank" rel="" title="https://www.bea.gov/">the message</a> on the page of the U.S. Bureau of Economic Analysis, which was due to publish the economic growth data for the third quarter of the year on October 30. The agency, which comes under the Department of Commerce, has been inactive due to the federal government shutdown that has now lasted 31 days. This partial closure of a part of the public administration is the first that the U.S. has experienced in seven years and is <a href="https://english.elpais.com/usa/2025-10-22/us-government-shutdown-breaks-records-with-no-end-in-sight.html" target="_self" rel="" title="https://english.elpais.com/usa/2025-10-22/us-government-shutdown-breaks-records-with-no-end-in-sight.html">on track to become the longest</a> — the record so far is the 34-day shutdown that occurred in the winter of 2018-2019, during Donald Trump’s first term.</p><p><a href="https://english.elpais.com/economy-and-business/2025-10-31/us-government-shutdown-plunges-the-country-into-a-statistical-blackout.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-10-29/federal-reserve-cuts-interest-rates-by-025-percentage-points-amid-fears-of-an-economic-slowdown.html Wed, 29 Oct 2025 18:28:32 GMT https://english.elpais.com/economy-and-business/2025-10-29/federal-reserve-cuts-interest-rates-by-025-percentage-points-amid-fears-of-an-economic-slowdown.html Jesús-Sérvulo González Moreno The central bank is more concerned about the weakening labor market than the rise in inflation The central bank is more concerned about the weakening labor market than the rise in inflation Donald Trump Jerome Powell AARON SCHWARTZ (EFE) US Federal Reserve board meeting U.S. chair of the Federal Reserve Jerome Powell participates in a board meeting at the Federal Reserve in Washington, October 24, 2025. U.S. chair of the Federal Reserve Jerome Powell participates in a board meeting at the Federal Reserve in Washington, October 24, 2025. <p>Faced with fears of an economic slowdown and the risk of runaway prices, the Federal Reserve (Fed) has opted for the first course of action. The U.S. central bank decided on Wednesday to cut interest rates by 0.25 percentage points, bringing the target range to 3.75%–4%. This marks the second consecutive reduction in the cost of money, following a <a href="https://english.elpais.com/economy-and-business/2025-09-17/fed-cuts-rates-by-025-points-amid-trump-pressure.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-09-17/fed-cuts-rates-by-025-points-amid-trump-pressure.html">similar cut in September</a> aimed at stimulating economic activity. </p><p><a href="https://english.elpais.com/economy-and-business/2025-10-29/federal-reserve-cuts-interest-rates-by-025-percentage-points-amid-fears-of-an-economic-slowdown.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-10-16/trumps-immigration-policy-reduces-labor-delays-projects-and-raises-costs-according-to-the-fed.html Thu, 16 Oct 2025 09:24:46 GMT https://english.elpais.com/economy-and-business/2025-10-16/trumps-immigration-policy-reduces-labor-delays-projects-and-raises-costs-according-to-the-fed.html Ana B. Nieto The most intensely affected sectors are hospitality, agriculture, construction and manufacturing, notes the Beige Book The most intensely affected sectors are hospitality, agriculture, construction and manufacturing, notes the Beige Book Donald Trump Jerome Powell Atlanta Kristalina Georgieva San Francisco Gabriel Osorio (EL PAÍS) Trump’s immigration policy Hispanic workers in a California farm field, April 4, 2025. Hispanic workers in a California farm field, April 4, 2025. <img src="https://images.english.elpais.com/resizer/v2/PLURSAXOHBGI7JD4ZSUJD3SGHI.jpg?auth=5115a6c98b0a5eb8b7f9f28b5ef31c2e9d11a0c460c36d759cbc51d7ea7d01dd" width="6595" height="4401" alt="Hispanic workers in a California farm field, April 4, 2025."></img><p>Economic uncertainty has halted the hiring plans of many U.S. businesses, but in the agriculture, construction and manufacturing sectors, companies are still looking for labor. And they are not being successful. The reason? The Trump administration’s <a href="https://english.elpais.com/economy-and-business/2025-09-25/trumps-immigration-policy-dethrones-mexicos-modelo-especial-as-the-most-popular-beer-in-the-united-states.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-09-25/trumps-immigration-policy-dethrones-mexicos-modelo-especial-as-the-most-popular-beer-in-the-united-states.html">immigration policy</a>. This is confirmed by <a href="https://www.federalreserve.gov/monetarypolicy/beigebook202510.htm" target="_blank" rel="" title="https://www.federalreserve.gov/monetarypolicy/beigebook202510.htm">the Beige Book</a>, a compilation of anecdotal information about economic conditions in the 12 Federal Reserve districts that was published on Wednesday. The report highlights the tense situation for the monetary authority, which is grappling with a labor market that is losing steam while inflationary pressures are reawakening.</p><p><a href="https://english.elpais.com/economy-and-business/2025-10-16/trumps-immigration-policy-reduces-labor-delays-projects-and-raises-costs-according-to-the-fed.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-09-17/fed-cuts-rates-by-025-points-amid-trump-pressure.html Wed, 17 Sep 2025 18:24:54 GMT https://english.elpais.com/economy-and-business/2025-09-17/fed-cuts-rates-by-025-points-amid-trump-pressure.html Iker Seisdedos García In the most politically charged meeting in memory, Powell approved the first rate cut since December, with the central bank signaling that further reductions are likely In the most politically charged meeting in memory, Powell approved the first rate cut since December, with the central bank signaling that further reductions are likely Jerome Powell Washington D.C. Donald Trump America JIM LO SCALZO JIM LO SCALZO (EFE) La Fed inicia una reunión en la que se prevé el primer recorte de tipos en nueves meses Fed Chairman Jerome Powell on June 2 in Washington. Fed Chairman Jerome Powell on June 2 in Washington. <p>It was the most politically charged meeting in recent memory. The Federal Reserve followed the expected script and approved a 0.25-point rate cut — the first since December and the first since Donald Trump took office. Trump, a president who has repeatedly flouted norms of decorum with his <a href="https://english.elpais.com/economy-and-business/2025-07-21/trump-vs-too-late-powell-anatomy-of-the-campaign-to-harass-and-take-down-the-fed-chairman.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-07-21/trump-vs-too-late-powell-anatomy-of-the-campaign-to-harass-and-take-down-the-fed-chairman.html">pressure on Fed Chairman Jerome Powell</a> — including insults and threats of dismissal — has pushed for lower rates to soften the impact of Washington’s aggressive trade policies. The new target range for interest rates is now 4%–4.25%.</p><p><a href="https://english.elpais.com/economy-and-business/2025-09-17/fed-cuts-rates-by-025-points-amid-trump-pressure.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-09-14/labor-shortages-caused-by-trumps-immigration-crusade-widen-cracks-in-the-construction-sector.html Sun, 14 Sep 2025 04:00:00 GMT https://english.elpais.com/economy-and-business/2025-09-14/labor-shortages-caused-by-trumps-immigration-crusade-widen-cracks-in-the-construction-sector.html Ana B. Nieto Figures provided by the Fed, Bureau of Labor Statistics and business organizations attest to the negative impact on the sector Figures provided by the Fed, Bureau of Labor Statistics and business organizations attest to the negative impact on the sector Donald Trump Jerome Powell Georgia Virginia Alabama Nebraska Megan Smith (REUTERS) FILE PHOTO: Construction site facing shortages of migrant workers due to the pace of ICE raids Construction workers in Alabama, in a file photo. Construction workers in Alabama, in a file photo. <p>The summer has been a cold one <a href="https://english.elpais.com/economy-and-business/2025-09-05/trump-ends-four-uninterrupted-years-of-job-creation-in-the-us.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-09-05/trump-ends-four-uninterrupted-years-of-job-creation-in-the-us.html">for the labor market</a> in the United States. Not only were just 22,000 new net jobs added in August, but for the first time since December 2020, jobs were lost in June. The onset of the winter of employment had been a reality for some time in some sectors of the economy, such as manufacturing and the mining and oil sectors. It also happened in construction, where job losses over the past three months were confirmed on Friday. This is an area of the economy where around 34% of workers are foreign-born, and the onslaught of anti-immigration policies is opening a deep rift that affects not only them but also U.S.-born workers, businesses and ongoing projects.</p><p><a href="https://english.elpais.com/economy-and-business/2025-09-14/labor-shortages-caused-by-trumps-immigration-crusade-widen-cracks-in-the-construction-sector.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/usa/2025-09-10/judge-temporarily-blocks-trumps-move-to-oust-lisa-cook-from-the-fed.html Wed, 10 Sep 2025 08:47:45 GMT https://english.elpais.com/usa/2025-09-10/judge-temporarily-blocks-trumps-move-to-oust-lisa-cook-from-the-fed.html EFE The case will likely end up before the US Supreme Court The case will likely end up before the US Supreme Court Donald Trump Jerome Powell CONTACTO vía Europa Press (CONTACTO vía Europa Press) Trump Lis Cook U.S. Federal Reserve Governor Lisa Cook. U.S. Federal Reserve Governor Lisa Cook. <p>A federal judge on Tuesday temporarily blocked U.S. President Donald Trump’s order to remove Lisa Cook as a governor of the Federal Reserve. The decision keeps the economist in her position while the legal dispute is resolved. The case will likely <a href="https://english.elpais.com/usa/2025-09-08/a-very-conservative-supreme-court-holds-the-key-to-trumps-agenda.html" target="_self" rel="" title="https://english.elpais.com/usa/2025-09-08/a-very-conservative-supreme-court-holds-the-key-to-trumps-agenda.html">end up before the U.S. Supreme Court</a>.</p><p><a href="https://english.elpais.com/usa/2025-09-10/judge-temporarily-blocks-trumps-move-to-oust-lisa-cook-from-the-fed.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/usa/2025-09-08/a-very-conservative-supreme-court-holds-the-key-to-trumps-agenda.html Mon, 08 Sep 2025 08:44:12 GMT https://english.elpais.com/usa/2025-09-08/a-very-conservative-supreme-court-holds-the-key-to-trumps-agenda.html Macarena Vidal Liy The US president has triggered an avalanche of court rulings against his attempts to expand his own power The US president has triggered an avalanche of court rulings against his attempts to expand his own power Donald Trump Jerome Powell Venezuela Universidad Harvard Los Ángeles Brian Snyder (REUTERS) U.S. President Donald Trump signs an executive order at the White House in Washington, D.C. US President Donald Trump in the Oval Office with Secretary of Defense Pete Hegseth. US President Donald Trump in the Oval Office with Secretary of Defense Pete Hegseth. <p>A federal appeals court ruling on Friday overturning the cancellation of protected status for millions of Venezuelans capped 10 days of legal setbacks for the Donald Trump administration <a href="https://english.elpais.com/science-tech/2025-09-07/six-nobel-laureates-speak-out-against-trump-the-closest-analogy-is-with-the-hitler-regime.html" target="_self" rel="" title="https://english.elpais.com/science-tech/2025-09-07/six-nobel-laureates-speak-out-against-trump-the-closest-analogy-is-with-the-hitler-regime.html">and its accumulation of power</a> in the United States. Court after court has blocked key measures of his agenda, from global tariffs to immigration policy, including the freeze on funds for Harvard University. Given the administration’s appeals, either already filed or promised, the conservative Supreme Court will hold the key to whether the Republican president’s agenda is legally valid and Trump can continue accumulating power. Its decisions will have consequences for decades to come.</p><p><a href="https://english.elpais.com/usa/2025-09-08/a-very-conservative-supreme-court-holds-the-key-to-trumps-agenda.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-09-05/trump-ends-four-uninterrupted-years-of-job-creation-in-the-us.html Fri, 05 Sep 2025 17:18:15 GMT https://english.elpais.com/economy-and-business/2025-09-05/trump-ends-four-uninterrupted-years-of-job-creation-in-the-us.html Macarena Vidal Liy A slowdown in the labor market, including a jobless rate of 4.3%, the highest since 2021, underpins expectations of a Federal Reserve interest rate cut A slowdown in the labor market, including a jobless rate of 4.3%, the highest since 2021, underpins expectations of a Federal Reserve interest rate cut Donald Trump Jerome Powell Joseph Biden Yuki Iwamura (AP) US Economy Jobs Report June’s job total was negative for the first time in over than four years. June’s job total was negative for the first time in over than four years. <p>Donald Trump returned to the White House promising to boost job creation. So far this hasn’t happened: the labor market is weakening and, for the first time since <a href="https://elpais.com/especiales/coronavirus-covid-19/a-room-a-bar-and-a-class-how-the-coronavirus-is-spread-through-the-air/" target="_self" rel="" title="https://elpais.com/especiales/coronavirus-covid-19/a-room-a-bar-and-a-class-how-the-coronavirus-is-spread-through-the-air/">the Covid pandemic</a>, is beginning to show negative job growth. According to indicators released on Friday, 22,000 non-farming jobs were added in August, far lower than the 76,000 new positions economists had been expecting to see.</p><p><a href="https://english.elpais.com/economy-and-business/2025-09-05/trump-ends-four-uninterrupted-years-of-job-creation-in-the-us.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-09-04/lisa-cook-under-federal-investigation-for-mortgage-fraud-as-pressure-mounts-on-the-fed.html Thu, 04 Sep 2025 19:00:07 GMT https://english.elpais.com/economy-and-business/2025-09-04/lisa-cook-under-federal-investigation-for-mortgage-fraud-as-pressure-mounts-on-the-fed.html Macarena Vidal Liy Stephen Miran, Trump’s nominee for the Federal Reserve Board, told the Senate today that he would act independently, despite sharp criticism from Democrats Stephen Miran, Trump’s nominee for the Federal Reserve Board, told the Senate today that he would act independently, despite sharp criticism from Democrats Donald Trump Jerome Powell Washington D.C. Jonathan Ernst (REUTERS) directo Lisa Cook, Federal Reserve governor fired by Trump. Lisa Cook, Federal Reserve governor fired by Trump. <p>The U.S. Department of Justice opened a criminal investigation on Thursday to determine whether <a href="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html">Federal Reserve Governor Lisa Cook</a> committed mortgage fraud, marking another setback for the institution, which has been at the center of <a href="https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.html">Donald Trump’s attempts to influence its interest rate decisions</a>.</p><p><a href="https://english.elpais.com/economy-and-business/2025-09-04/lisa-cook-under-federal-investigation-for-mortgage-fraud-as-pressure-mounts-on-the-fed.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.html Sat, 30 Aug 2025 04:00:00 GMT https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.html Álvaro Sánchez ,Nuño Rodrigo Fear of inflation is keeping the 10-year yield elevated despite Powell’s possible cuts. Not since the financial crash has the US lowered rates while prices were rising Fear of inflation is keeping the 10-year yield elevated despite Powell’s possible cuts. Not since the financial crash has the US lowered rates while prices were rising Jerome Powell Donald Trump Washington D.C. Natalie Behring (Getty Images) powell Federal Reserve Chairman Jerome Powell on August 22, 2025 near Jackson Hole, Wyoming. Federal Reserve Chairman Jerome Powell on August 22, 2025 near Jackson Hole, Wyoming. <p>The dismissal — pending an imminent legal battle — of <a href="https://english.elpais.com/usa/2025-08-27/trump-storms-the-central-bank.html" target="_blank" rel="noreferrer" title="https://english.elpais.com/usa/2025-08-27/trump-storms-the-central-bank.html">Federal Reserve Governor Lisa Cook</a> has called into question the sacrosanct independence of the U.S. central bank from a White House that is all but obsessed with cutting interest rates. </p><p><a href="https://english.elpais.com/economy-and-business/2025-08-30/the-feds-complex-dilemma-balancing-trumps-attacks-bond-market-doubts-and-the-ghosts-of-2007.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/opinion/2025-08-29/state-capitalism-in-the-usa.html Fri, 29 Aug 2025 09:04:25 GMT https://english.elpais.com/opinion/2025-08-29/state-capitalism-in-the-usa.html EL PAÍS Trump’s interventionist approach to companies and markets is more reminiscent of the Chinese model than of American liberalism Trump’s interventionist approach to companies and markets is more reminiscent of the Chinese model than of American liberalism Donald Trump China Jerome Powell Intel Nvidia Corporation Dado Ruvic (REUTERS) Illustration shows U.S. flag and Intel logo The U.S. government is taking a 10% stake in Intel's stock. The U.S. government is taking a 10% stake in Intel's stock. <p>Although the calm of the stock markets may be misleading, the United States has experienced one of the most momentous weeks for financial markets since the banking crisis 15 years ago. President Donald Trump’s decision to dismiss Federal Reserve Governor Lisa Cook (who sued the president on Thursday) could end the organization’s 74 years of independence, and subject monetary policy to the whims of the White House. This is a complete shift in the paradigm that has governed the world’s largest economy for decades, and it finds more echoes in emerging markets <a href="https://english.elpais.com/opinion/2025-07-06/trumps-army.html" target="_self" rel="" title="https://english.elpais.com/opinion/2025-07-06/trumps-army.html">and authoritarian leaders</a> than in developed economies and liberal democracies.</p><p><a href="https://english.elpais.com/opinion/2025-08-29/state-capitalism-in-the-usa.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/usa/2025-08-28/fed-governor-lisa-cook-sues-trump-over-attempt-to-fire-her.html Thu, 28 Aug 2025 14:38:25 GMT https://english.elpais.com/usa/2025-08-28/fed-governor-lisa-cook-sues-trump-over-attempt-to-fire-her.html Macarena Vidal Liy The embattled official claims the US president lacks the authority to remove her from office The embattled official claims the US president lacks the authority to remove her from office Donald Trump Jerome Powell Mark Schiefelbein (AP) Federal Reserve Cook Profile U.S. Federal Reserve Governor Lisa Cook. U.S. Federal Reserve Governor Lisa Cook. <p><a href="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html">Federal Reserve Governor Lisa Cook</a> filed a lawsuit this Thursday against U.S. President Donald Trump for attempting to <a href="https://english.elpais.com/economy-and-business/2025-08-27/why-is-central-bank-independence-important-and-what-happens-when-it-is-under-attack.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-08-27/why-is-central-bank-independence-important-and-what-happens-when-it-is-under-attack.html">remove her from office</a>. Cook, appointed by the Biden administration, argues that the Republican lacks the authority to dismiss her and has asked the courts to block the action, in a case that promises a fierce legal battle over the central bank’s independence.</p><p><a href="https://english.elpais.com/usa/2025-08-28/fed-governor-lisa-cook-sues-trump-over-attempt-to-fire-her.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/usa/2025-08-27/trump-storms-the-central-bank.html Wed, 27 Aug 2025 09:53:31 GMT https://english.elpais.com/usa/2025-08-27/trump-storms-the-central-bank.html EL PAÍS The firing of a Federal Reserve governor is a serious step in the implementation of a populist economic agenda with serious consequences both inside and outside the United States The firing of a Federal Reserve governor is a serious step in the implementation of a populist economic agenda with serious consequences both inside and outside the United States Donald Trump Jerome Powell Washington D.C. Mark Schiefelbein (AP) Trump US President Donald Trump at the White House on Tuesday. US President Donald Trump at the White House on Tuesday. <p>U.S. President Donald Trump has <a href="https://english.elpais.com/usa/2025-08-27/troops-in-washington-and-fed-dismissals-trump-embraces-authoritarian-drift.html" target="_self" rel="" title="https://english.elpais.com/usa/2025-08-27/troops-in-washington-and-fed-dismissals-trump-embraces-authoritarian-drift.html">crossed a red line</a> in his attack on the Federal Reserve with his bid to dismiss Governor Lisa Cook, who is under investigation for possible mortgage fraud, in an unprecedented challenge to the monetary authority’s 74 years of independence. For months, Trump has publicly pressured Fed Chairman Jerome H. Powell to lower interest rates and has threatened to remove him. Cook’s dismissal, which she will challenge in court, shows that Trump is determined to put the world’s leading central bank at his service, even at the cost of an independence that for decades has helped sustain confidence in U.S. economic policy and the dollar’s status as a reserve currency.</p><p><a href="https://english.elpais.com/usa/2025-08-27/trump-storms-the-central-bank.html" target="_blank">Seguir leyendo</a></p> https://english.elpais.com/economy-and-business/2025-08-27/why-is-central-bank-independence-important-and-what-happens-when-it-is-under-attack.html Wed, 27 Aug 2025 09:26:41 GMT https://english.elpais.com/economy-and-business/2025-08-27/why-is-central-bank-independence-important-and-what-happens-when-it-is-under-attack.html Nuria Salobral Inflation, financial bubbles and fiscal imbalances are the possible consequences of a politically motivated rate cut Inflation, financial bubbles and fiscal imbalances are the possible consequences of a politically motivated rate cut Jerome Powell Donald Trump Instituto Elcano Mario Draghi Argentina Kent Nishimura (REUTERS) Trump y Powell Fed US President Donald Trump and Federal Reserve Chairman Jerome Powell at Fed buildings in Washington. US President Donald Trump and Federal Reserve Chairman Jerome Powell at Fed buildings in Washington. <p>Donald Trump is overcome by his anxiety to seize control of the Federal Reserve, the most powerful central bank in the world, the one that sets the price of money in the United States and thereby sets the benchmark for the cost of a mortgage or paying interest on public debt. As he announced on his social media platform, the U.S. president has <a href="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html" target="_self" rel="" title="https://english.elpais.com/economy-and-business/2025-08-26/trump-tightens-his-grip-on-the-fed-by-removing-a-biden-appointed-governor.html">moved to fire Governor Lisa Cook</a> on charges of mortgage fraud, a dismissal she claims has no legal basis. The political assault has finally erupted at the Fed in a case that promises to end up in court and further tightens the noose around the institution’s chairman, Jerome Powell, whose term ends in May 2026.</p><p><a href="https://english.elpais.com/economy-and-business/2025-08-27/why-is-central-bank-independence-important-and-what-happens-when-it-is-under-attack.html" target="_blank">Seguir leyendo</a></p>