National Retail Federation (NRF) CEO Matthew Shay warned that shoppers could face higher prices on an array of goods if President-Elect Donald Trump's proposed tariffs on imports to the United States are implemented.  "The adoption of across-the-board tariffs on consumer goods and other non-strategic imports amounts to a tax on American families," Shay said in a statement to FOX Business. It will drive inflation and price increases and will result in job losses."  The...

Wall Street has rarely been more excited by an election.  U.S. stocks’ capitalization rose by $1.62 trillion on Wednesday, their fifth-best one-day showing ever, following Donald Trump’s decisive election victory. The surge highlights the opportunity that investors, bankers and others in finance are hoping to embrace over four years of tax cuts, deregulation and economic expansion. “Investors are celebrating,” said Jack Ablin, chief investment officer at Cresset...

One of the first policies President-elect Donald Trump is expected to enact after being sworn into office is imposing taxes on imported goods. Many economists say these tariffs, as well as some of his other proposals, could kick-start another bout of inflation and interest-rate hikes. Trump has said that his proposals would not impact US prices. "I am going to put tariffs on other countries coming into our country, and that has nothing to do with taxes to us. That is a tax...

Donald Trump won the U.S. presidential election on Nov. 6, after months of repeatedly claiming he could end Russia's full-scale invasion of Ukraine in a day. To do that, he will have to do what he claims he does best — negotiate a deal. Ambassador Kurt Volker is one person with a wealth of experience in issues Trump is likely to face regarding Russia’s war against Ukraine.

A military judge Wednesday ruled that Defense Secretary Lloyd Austin had exceeded his authority and acted too late when he canceled plea deals for three accused 9/11 conspirators, including alleged mastermind Khalid Sheikh Mohammed. The restoration of the plea deals, negotiated over two years and signed off by retired Gen. Susan Escallier, could mean life sentences for Mohammed, Walid bin Attash and Mustafa al-Hawsawi, who have been awaiting trial at Guantánamo Bay since 2012. Who said what...

The Federal Reserve announced Thursday that it would lower its federal funds rate target range by 0.25% in a push to boost the U.S. economy. The Fed’s decision to lower the range to between 4.50% and 4.75% follows a September cut of 0.50% as inflation decelerates and the labor market softens. The previous rate cut was preceded by several democratic senators calling for an aggressive move from the Fed, with speculation that a large cut could help boost Vice President...

WASHINGTON — President Joe Biden addressed the nation on Thursday following Donald Trump’s decisive victory, urging Americans to “accept the choice the country made” while encouraging his supporters to “get back up.” “We accept the choice the country made,” he said in brief remarks from the White House Rose Garden. “I’ve said many times you can’t love your country only when you win. You can’t love your neighbor only when you agree.” Biden’s speech comes four years after he was projected as the...

Two House Democrats have been ousted by their Republican challengers in Pennsylvania, bolstering the GOP’s chances of defending its slim majority as it inches closer to the 218-seat threshold. Republican candidate Ryan Mackenzie defeated three-term incumbent Rep. Susan Wild (D-PA) in Pennsylvania’s 7th Congressional District, securing a big win for Republicans. Mackenzie defeated Wild with 50.7% of the vote with more than 95% of ballots counted so far. The Associated...

Germany's federal prosecutor office says it has arrested an American citizen who allegedly spied for China. The individual is accused of providing sensitive information to Chinese intelligence services, potentially compromising national security. This arrest underscores ongoing concerns about foreign espionage within Germany. Earlier this year, German authorities detained three German nationals on suspicion of supplying military technology information to a Chinese intelligence service. The...