Politics
All the latest news stories about politics, from elections and law-making to the subtle shifts that change our lives—and our finances
Trump cuts tariffs on China after meeting Xi in South Korea
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Fed Cuts Rates Again but Powell Signals Uncertainty Over December Move
The Federal Reserve approved its second consecutive interest rate cut, lowering the benchmark rate to a range of 3.75%–4%.
Federal Reserve cuts key rate as shutdown clouds economic outlook
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
Trump’s Fed Shake-Up: Five Contenders Emerge to Replace Powell
Treasury Secretary Scott Bessent confirmed Monday that five candidates are in the running to replace Federal Reserve Chair Jerome Powell next year.
Trump Says U.S. and China Near Trade Deal
President Donald Trump said the U.S. and China are close to finalizing a trade deal ahead of his upcoming meeting with Chinese President Xi.
US and China say a trade deal is drawing closer as meeting nears
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
Senate Passes Bill to Simplify IRS Math Error Notices
The Senate unanimously approved the IRS Math and Taxpayer Help Act, aiming to make IRS math error notices clearer for taxpayers who make simple mistakes.
Trump Pardons Binance Founder Changpeng Zhao Amid Crypto Controversy
President Trump has pardoned Changpeng Zhao, the Binance founder who pleaded guilty to money laundering charges.
U.S. Hits Russia’s Top Oil Firms with Sanctions as Trump Cancels Meeting with Putin
The United States imposed sanctions on Russia’s two largest oil companies while urging Moscow to agree to a ceasefire in Ukraine.
What Americans think about rising health care costs
A new poll finds most U.S. adults are worried about health care becoming more expensive.
Supreme Court to Decide If Marijuana Users Can Legally Own Guns
The U.S. Supreme Court will hear a case on whether regular marijuana users can legally possess firearms, marking a significant follow-up to its 2022 ruling.
White House Advisor Hints Shutdown May End Soon
White House economic advisor Kevin Hassett said the government shutdown is likely to end this week.
Hostages Freed as Many Hope for Middle East Peace
Israel and Hamas took a crucial step toward peace on Monday as hostages and prisoners were exchanged under a U.S.-brokered ceasefire deal.
IRS Releases Updated Tax Brackets for 2026
The IRS has released updated federal income tax brackets and standard deductions for the 2026 tax year, which will apply to returns filed in 2027.
Fiscal Freeze: U.S. Federal Shutdown Drags On
With the government still unfunded, more than 4,000 federal workers received lay-off notices, and many services began to shutter.
Tariff Turmoil Continues Between U.S. and China
The trade dispute between China the United States took a sharp turn as President Donald Trump announced plans for a 100 % tariff on Chinese goods.
Firings of federal workers begin as White House seeks to pressure Democrats in government shutdown
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
