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Money & Markets

Trump’s social media app launches year after Twitter ban

NEW YORK — Former President Donald Trump’s social media app that he hopes will rival Twitter launched Monday as he seeks a new digital stage to rally his supporters and fight Big Tech limits on speech, a year after he was banned from Twitter, Facebook and YouTube. His Truth Social app was ...

Fed officials push back on rapid interest rate hikes

NEW YORK — The Federal Reserve should start raising interest rates next month to help rein in too-high inflation, Federal Reserve Bank of New York President John Williams said Friday. But he added that the rate hikes may not have to begin with as big a bang as some have suggested. With ...

Saudi Arabia keeps lid on oil output as US gas prices rise

DUBAI, United Arab Emirates — Saudi Arabia is signaling it isn’t willing to pump more oil and won’t push for changes to an agreement with Russia and other producers that has kept a lid on oil production levels. This has Washington concerned as gasoline prices rise and tensions with ...

Faster rate hikes are likely if inflation stays high

WASHINGTON — Federal Reserve policymakers concluded last month that they would accelerate their tightening of credit if inflation failed to slow in the coming months. Most officials agreed that faster interest rate hikes would be needed “if inflation does not move down” as the Fed’s ...

Pressure mounts on Congress to curb lawmaker stock trading

WASHINGTON — Amid a steady drip of damaging headlines, pressure is building for Congress to pass legislation that would curtail lawmakers’ ability to speculate on the stock market. Trading in Congress has long been criticized by government watchdogs, who say the access to nonpublic ...

Biden has long-term inflation plan, but voter patience short

WASHINGTON — President Joe Biden came into office with a plan to fix inflation — just not the particular inflationary problem that the country now faces. His belief is that a cluster of companies control too many industries, which reduces competition for both customers and workers. That ...