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Economy

Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation

By CHRISTOPHER RUGABER
Jul 01, 2026 9:49 am - New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has sought.
Vernon Hills plans to retire 2 special tax increment financing districts

By Mick Zawislak
Jun 30, 2026 5:09 pm - Two of three special financing districts created as incentives for what have become successful developments along Milwaukee Avenue in Vernon Hills are headed for retirement.
Egg producers will pay $3.3M and donate 53 million eggs to settle price fixing claims

By WYATTE GRANTHAM-PHILIPS
Jun 30, 2026 4:31 pm - NEW YORK — The U.S. Justice Department and 17 states reached settlement agreements with three major egg producers this week to resolve allegations that the companies ille...
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy

By CHRISTOPHER RUGABER
Jun 30, 2026 3:27 pm - Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards.
Supreme Court says Fed’s Cook can keep her job for now, but it upholds other Trump firings

By MARK SHERMAN
Jun 29, 2026 10:35 am - The Supreme Court on Monday dramatically expanded presidential power, upholding President Donald Trump’s firings of the heads of independent federal agencies with one important exception: the Federal Reserve.
Most of Wall Street rises, but sinking AI stocks send it lower for the week

By STAN CHOE
Jun 26, 2026 3:42 pm - Most of the U.S. stock market rose Friday after oil prices eased back to where they were before the war with Iran, but drops for stocks swept up in the mania around artificial-intelligence technology kept the market in check.
Key inflation gauge jumps to 3-year high in latest sign of affordability challenges

By CHRISTOPHER RUGABER
Jun 25, 2026 8:23 am - The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Donald Trump and his political party as midterm elections near.
From peace talks to Pennsylvania: Trump visits Mack Truck facility to tout his economic policies

By MIKE CATALINI and SEUNG MIN KIM
Jun 23, 2026 2:43 pm - MACUNGIE, Pa. — President Donald Trump visited a Mack Truck facility in the swing state of Pennsylvania on Tuesday, attempting to shift attention to the U.S. economy in h...
Former Federal Reserve Chairman Alan Greenspan dies at 100

By PAUL WISEMAN
Jun 22, 2026 7:23 am - Alan Greenspan, the jazz-playing U.S. Federal Reserve chair who was celebrated for engineering a decade of prosperity but later shared the blame for a devastating financial crisis, died Monday. He was 100.
Federal cuts are hitting Illinois food assistance recipients — and the farmers who feed them

By Molly A Wallace and Medill Illinois News Bureau
Jun 20, 2026 11:00 am - The Trump administration eliminated food assistance for an estimated 360,000 Illinoisans this year by expanding work requirements and cutting benefits for lawfully present immigrants, including refugees and asylum seekers. Link Match doubles SNAP users’ purchasing power at farmers’ markets, food co-ops and local grocers and has grown from $469,000 in spending in 2021 to $2.26 million in 2025. With fewer Illinoisans eligible for SNAP benefits, local farmers who already operate on slim profit margins could lose income.

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