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- LARRY KUDLOW: Time to say goodbye, Jay Powell
So I guess the Fed chairman, Jay Powell, is not going off quietly into the night. Today is his last meeting as chairman, but he announced his ungentlemanly decision to stay on as a Fed board member for who knows how long. "I’ve said that I will not leave the board until this investigation is well and truly over with transparency and finality, and I stand by that," he said. "In terms of when I would leave, I will leave when I think it’s appropriate to do so," he added. "The things that have happened in the last three months, I think, left me no choice but to stay." Mr. Powell concluded that "after my term as chair ends on May 15th, I will continue to serve as a governor for a period of time to be determined. I plan to keep a low profile as a governor."Mr. Powell’s not the martyr he thinks he is. You can’t have two chief executives.President Trump’s choice to lead the Fed, Kevin Warsh, was confirmed today by the Senate Banking Committee, by a 13-11 vote. And he undoubtedly will be confirmed by the whole Senate probably some time next week.Nobody’s going to listen to Mr. Powell. The cost overrun investigation is being run by the Fed’s inspector general, who is independent, and Mr. Powell has nothing to do with it. And by the way, only once before in the 113-year history of the central bank, has another former chairman stayed on as a board member.This speaks poorly of Mr. Powell. His record as Fed chairman was undistinguished. The Consumer Price Index averaged 3.5 percent per year under Mr. Powell. That was the highest level since the tenure of Paul Volcker, giving Mr. Powell the worst record in more than 40 years. Cumulatively the CPI rose a whopping 32 percent. And as far as the economy, real gross domestic product averaged 2.4 percent at an annual rate. Another unimpressive performance. On top of that, Mr. Powell was also a highly political Fed chairman who embraced President Biden’s radical climate agenda and even more radical DEI.In an interview today, Treasury Secretary Scott Bessent expressed to me his strong displeasure with Powell by saying "I think it is an insult to Kevin Warsh, Miki Bowman, and Chris Waller to think that these other Republican nominees do not care about the institution of the Fed and that… [TheTopNews] Read More.23 mins ago - Judge Asks Justice Department: Will You Oppose Trump?
A federal judge has ordered the Justice Department to explain whether it intends to contest President Trump’s $10 billion lawsuit against the I.R.S. over the disclosure of his tax returns. [TheTopNews] Read More.32 mins ago - Big US tech stocks swing as investors probe AI spend
Meta, Amazon, Alphabet, and Microsoft all reported their financial performance at the same time on Wednesday [TheTopNews] Read More.46 mins ago - Fed Meeting Underscores Tough Task Ahead for WarshJerome H. Powell on Wednesday announced he would stay on as a governor at the central bank as internal divisions sharpen about the policy path forward. [TheTopNews] Read More.59 mins ago
- Costco changes beloved $1.50 hot dog deal for the first time in decades: reportsCostco is reportedly tweaking one of the most iconic deals in retail.The warehouse giant – long known for its $1.50 quarter-pound all-beef hot dog and 20-ounce soda combo – is now giving customers the option to swap the fountain drink for a 16.9-ounce bottle of Kirkland Signature water. The move marks the first update to the beloved combo in more than 40 years, according to TODAY and People Magazine. The price will remain the same.The original soda option, which includes free refills, remains unchanged.The update has drawn mixed reactions online.COSTCO ISSUES URGENT RECALL ON POPULAR PRODUCT LINKED TO BURN INJURIESAfter a Reddit user shared a photo of the change at their local Costco months ago, many commenters welcomed the option."Finally! I usually just ask for no cup or throw it away because I try not to drink soda as much and the water from the dispense tastes weird. No more having to remember a quarter when I go to Costco," one commenter said."I wish more Costcos did this. I'd rather have the bottled water than the soda for sure," another added.COSTCO TO OPEN ITS FIRST STAND-ALONE GAS STATION WITH SECOND LOCATION COMING NEXT YEAR"We’ve had this in the Toronto location in Canada for several months now," a third user wrote. "I know because I’ve made the mistake 1 too many times on selecting water when I get my polish sausage! Haha. Give me my Coke Zero!!"Some customers, however, appeared less enthusiastic."The bottle of water costs less than just that paper cup," one X user wrote. "It's a quasi [Make America Healthy Again] move too.""Do you think small menu changes like that actually matter to customers, or is it more about the reaction people have to any change at all?" another X user added.COSTCO SAYS YOUR NEXT CHECKOUT COULD TAKE UNDER 10 SECONDS THANKS TO NEW AUTOMATED PAY STATIONSThe price of Costco's hot dog combo has remained unchanged for decades.In a March 18 Instagram video, CEO Ron Vachris made it clear the price will not be changing anytime soon."The hot dog price will not change as long as I'm around," he said.GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business reached out to Costco for comment. [TheTopNews] Read More.1 hour ago
- Carvana stock pops as used car retailer reports record first-quarter results
The online used car retailer reported retail sales of 187,393 units, a 40% increase compared with a year earlier. [TheTopNews] Read More.1 hour ago
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