Mayor Mike Duggan on Monday proposed the city appropriate its surplus to create a new $42-million reserve fund.

For the 11th straight year, the city of Detroit is set to see a budget surplus. Mayor Mike Duggan announced Monday a projected $60 million surplus for fiscal year 2024-2025, which wrapped up in June.

The Federal Reserve’s policy committee began a two-day meeting Tuesday, with a rate cut likely as inflation stays above target and U.S. job growth slows.

U.S. District Judge Jia Cobb on Sept. 9 ruled that Cook could remain on the job as her case proceeded, saying that Trump’s attempt to oust her likely violated the law. The appeals court decision ...

Typically, the Fed would cut its key interest rate when unemployment rises, but it would raise rates — or at least keep them ...

The Trump administration is expected to quickly turn to the Supreme Court in a last-ditch bid to unseat Cook before the Fed meets. And Cook’s lawsuit seeking to permanently block her firing must still ...

While inflation remains above the Fed's 2% target, economists expect a rate cut this September to address the weakening labor market.

U.S. District Judge Jia Cobb late Tuesday granted Cook’s request for a preliminary injunction blocking her firing and ruled ...