President Trump will likely select a new Federal Reserve chair this month, Treasury Secretary Scott Bessent said Thursday, as he gave new details on the search for America's next top central banker.
The big picture: In one of the most consequential appointments of his term, Trump has publicly mused about the process and suggested he has already decided. Bessent, who has led the search process, said one of four remaining candidates is yet to be interviewed.
Rick Rieder, a BlackRock executive, is the remaining finalist to be interviewed, Bessent said.
White House aide Kevin Hassett and former Fed governor Kevin Warsh are thought to be the leading candidates, and current Fed governor Christopher Waller has also interviewed.
The IRS will kick off tax season later this month as major new tax provisions take effect, potentially changing how millions of Americans file — and what they owe.
Why it matters: It's the first filing season reflecting changes from the One, Big, Beautiful Bill, which could affect taxpayers' refund amounts, credits and deductions compared with last year.
Avelo Airlines is cutting ties with ICE less than a year after inking a deal to carry out deportations for the agency.
Why it matters: Avelo appears to be the only commercial airline carrying out full aircraft deportation flights on a regular schedule for ICE, the AP noted last year.
A new retail development has officially broken ground in one of California's fastest-growing cities following years of collaboration with city partners and local stakeholders.
Why it's important: Beaumont adds thousands of new residents each year, but currently has limited retail infrastructure.
Residents are vocal about the need for more grocery, convenience, dining and daily-needs options close to home — and Oak Valley Village responds directly to that need.
The Trump administration and the Federal Reserve are both counting on a 2025 productivity boom continuing through 2026 and fueling a continued growth surge.
There are two key risks: One is that it doesn't happen; the other is that it does.
The big picture: Companies have been able to grow output rapidly over the last couple of years — including in the most recent quarterly reading out Thursday morning — without needing much more labor to do it.
President Trump's latest command economy performance is aimed at large institutional investors in single-family homes, pledging to block them from buying more.
Why it matters: This is his first public break with private equity since returning to office, and a rare time when he might find common ground with Democrats.
Microsoft is pushing shopping and checkout directly into its Copilot assistant, a move that could reshape where e-commerce transactions happen and who controls the funnel.
Why it matters: Big Tech is racing to turn AI assistants into the front door of the internet.
AI and military needs could worsen what's already shaping up as a looming copper supply gap in coming decades, new analysis finds.
Why it matters: Copper supply is foundational to energy transition including EVs and renewables — even as traditional uses like construction and machinery grow, as you can see above.
President Trump said Wednesday that he would seek to ban institutional investment in single-family homes, then shortly after said he'd work to ban defense companies from offering dividends or doing buybacks.
Stocks in both sectors sold off as a result. More on that below.
Why it matters: Such moves from the Trump economic playbook are only going to ramp up as the midterms draw near. Here's how investors can find clarity in the noise.
