latest news in economy
Bowman Highlights Fed's Banking Supervision Approach
Washington, Thursday, 7 May 2026.
Federal Reserve Vice Chair Bowman testified before the Senate, outlining the Fed’s focus on systemic risk and capital requirements. Bowman noted banks’ share of mortgage originations dropped from 60% in 2008 to 35% in 2023.
Surging Fuel Prices Expose a Deepening Economic Divide Among American Consumers
Washington D.C., Thursday, 7 May 2026.
As national fuel prices hit four-year highs, a stark economic divide emerges: rising energy costs force lower-income Americans to cut consumption while wealthier households continue spending.
Federal Reserve Outlines Strategy to Regulate Artificial Intelligence and Digital Assets in Banking
Washington, Thursday, 7 May 2026.
The Federal Reserve is actively exploring artificial intelligence to train bank examiners while establishing guardrails to balance rapid financial technology advancements with systemic banking stability.
Billionaire Ken Griffin Diverts Jobs from New York to Miami Over Mayor's Tax Campaign
New York, Thursday, 7 May 2026.
Citadel CEO Ken Griffin is diverting New York jobs to Miami after Mayor Mamdani filmed a ‘tax the rich’ campaign outside Griffin’s $238 million penthouse, citing severe safety concerns.
How Advanced Recycling is Turning the Global Plastic Crisis into Lucrative Revenue Streams
New York, Wednesday, 6 May 2026.
A May 2026 chemical recycling breakthrough converts discarded plastics into valuable raw materials in minutes, transforming a trillion-dollar environmental crisis into a massive economic opportunity.