Commerce Department

President Donald Trump has set up a new body within the Commerce Department to manage the CHIPS and Science Act, 2022. What Happened: A new entity, the United States Investment Accelerator within the Commerce Department, will now oversee the CHIPS Act program, as established by an executive order...

SpaceX CEO and White House advisor Elon Musk could cash in as the Commerce Department plans to expand Starlink’s access to federal funding for rural broadband. What Happened: Secretary Howard Lutnick told staffers that the department could change the rules governing the Biden Administration...

New construction on single-family homes in the U.S. jumped in August as mortgage rates trend downward and the Federal Reserve is expected to cut rates on Wednesday for the first time in four years. Single-family housing starts last month came in at an annualized rate of 992,000 units, up 15.8% from...

U.S. semiconductor maker GlobalFoundries Inc (NASDAQ:GFS) is the first recipient of a government grant from the Commerce Department under the Biden administration’s $53-billion CHIPS Act. GlobalFoundries announced Monday it would receive $1.5 billion to support the expansion of its production...

The SPDR S&P 500 (NYSE: SPY) is sliding Thursday morning after retail sales in the United States saw their steepest drop in close to a year last month, suggesting consumers are reining in spending around the holidays. What Happened: The Commerce Department said U.S. retail and...

An important inflation reading for the Federal Reserve is coming Friday, with the Bureau of Economic Analysis set to release the Personal Consumption Expenditures (PCE) price index data for August. What To Know: The PCE price index is the Federal Reserve's preferred...

When the International Committee on Taxonomy of Viruses officially named the global influenza outbreak – "severe acute respiratory syndrome coronavirus 2" or SARS-Co V-2 – on February 7, a question arose among corporate compliance officers whether samples of the virus for use by international labs...

The Commerce Department's Bureau of Industry and Security has added 17 companies and individuals to the Entity List for posing a risk to U.S. national security and foreign policy interests.  The Entity List subjects U.S. exporters to specific export licensing requirements and prohibitions when...

Americans opened their wallets in May, giving the economy a boost. Retail and restaurant sales were up 0.5% month-over-month and 3.2% higher year-over-year, the Commerce Department said Friday. Adjusted sales were $519 billion in the month, while data for April was also revised upward, making for...

U.S. steel stocks are surging after the U.S. Commerce Department recommended that President Donald Trump enact a 24-percent tariff on all steel imports. Trump had ordered an investigation into the potential risk that U.S. steel imports pose to national security, laying the groundwork for him to...

American gun manufacturers boomed Tuesday on news that the Trump Administration would ease export policies on non-military firearms. The White House will soon submit a proposal to the budget office to shift regulation of international sales from the State Department to the Commerce Department,...

Economic health is sound enough for the market to expect the Fed to continue with its measured pace of rate increases. Therefore, when Federal Reserve chair Janet Yellen sounded dovish at last week's semi-annual monetary policy testimony, it came as a surprise. The testimony, which cast a cloud of...

The U.S. economy, which was stuttering with a "fits-and-starts" recovery following the Great Recession of 2007–2008, has now reached a state of steady, stable growth, with the pace of growth centering around a new normal rate that is lower than its historical norm. Economic Health: Far From...

The Federal Reserve's monetary policy setting arm, or the FOMC is set to sit across the table for one last time this year to deliberate on rates. It's sure an unenviable task, given the fine line central bankers have to tread in deciding the apt course of the monetary policy. A wrong move can...

The Fed's monetary policy setting arm, namely the Federal Open Market Committee, or FOMC, is deep into deliberations in a two-day meeting that began Tuesday. With the verdict due shortly, most see no surprise elements in it. Hold Mode Close To A Year The central bank has been holding the Fed...