The wealth gap between white and Latino households poses deep problems for the U.S. economy in the coming decades, according to a new reportout Wednesday.
Why it matters: Latinos are the fastest-growing demographic in the U.S., but have $.22 in household wealth for every $1 held by white households. This could limit consumer spending, business formation and long-term growth if unaddressed.
There is new progress on getting Kevin Warsh, President Trump's pick to lead the Federal Reserve, confirmed to the post.
The Senate Banking Committee will hold a hearing on his nomination next week, Sen. Tim Scott (R-S.C.), who chairs the committee, confirmed in a Tuesday morning interview with Fox Business.
The International Monetary Fund cut its 2026 global economic growth forecast Tuesday, warning of slower growth and higher inflation thanks to the Iran war.
Why it matters: The war and energy shock in tow has halted economic momentum — and even a rather short conflict will do real damage, it finds.
The Iran war brought global economic momentum to a halt, the International Monetary Fund said Tuesday, providing new projections for slower growth and higher inflation.
Why it matters: It is the latest major economic institution to warn about stagflation-like global economic fallout from the war. The conflict upended what was shaping up to be a solid year for the global economy.
The 60/40 portfolio has been an investment standard for many decades, but it has been on somewhat shakier ground lately.
Why it matters: Investors are looking for new ways to diversify their portfolios in a market fraught with inflation and geopolitical risks, but the trouble is a lot of these strategies are actually less diverse than the traditional mix, a new paper warns.
Donald Trump is torching the coalition that made him president, seemingly unaware of — or simply unconcerned by — the depth of discontent permeating his movement.
Why it matters: Trump won back the White House with the most eclectic alliance in modern politics — a blend of MAGA diehards, crypto evangelists, nonwhite men, podcast bros, anti-war populists and culture-war Christians.
Google is funding new research and skills training programs to help prepare workers for the AI economy, according to an announcement shared first with Axios.
Why it matters: Executives say they want workers to be ready for AI as many of them worry it might take their jobs.
Tax refunds are up this year — but still falling short of expectations for many Americans, despite new tax breaks meant to put more money in taxpayers' pockets.
Why it matters: Refunds are one of the biggest cash windfalls many households see all year — and when they fall short, so do plans to pay down debt, save or spend.
AI's rapid advance is raising the risk of both large-scale attacks on financial infrastructure and small, targeted fraud that can drain individual accounts.
Why it matters: Banks have long been the gold standard for cybersecurity — but they need to move faster in an AI world.
