WH adviser Hassett urges ‘discipline’ for Fed

President Donald Trump’s top economist on Wednesday urged that Federal Reserve economists be punished for research last week that showed American companies and consumers paying for nearly all the new tariffs imposed by the White House last year.

Hassett’s comments represent the latest attack from the Trump administration on the Fed, which has traditionally been independent of day-to-day politics.

Lower inflation needed before more rate cuts

Many Federal Reserve officials want to see inflation fall further before they would support additional interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month’s meeting show.

The minutes underscored the deeply divided nature of the committee, with several camps emerging: “Several” officials said additional cuts will “likely be appropriate” if inflation continues to decline. But “some” officials favored keeping rates unchanged “for some time,” suggesting a longer pause.

Nvidia leads US stock market higher

The U.S. stock market ticked higher, led by its most influential stock, Nvidia.

The S&P 500 rose 0.6% Wednesday and pulled closer to its all-time high set late last month. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite gained 0.8%. Nvidia was the strongest force lifting the market after Meta Platforms announced a deal to use millions of its chips in AI data centers.

Moderna: FDA will consider its new flu shot

Vaccine maker Moderna says the Food and Drug Administration will decide whether to approve its new flu shot for older adults after all.

Moderna announced the change Wednesday, about a week after revealing the FDA was refusing the review the new mRNA shot. The dispute centered over how the experimental vaccine was compared with today’s shots.

Online seller eBay to buy secondhand shop Depop

Online seller eBay wants a bigger share of the Gen Z market.

The online seller has agreed to purchase secondhand fashion marketplace Depop from Etsy for about $1.2 billion in cash, the companies said Wednesday.

GOP states seek to limit environmental rules

Some Republican legislators are pushing to limit state environmental regulations.

Alabama lawmakers approved legislation Tuesday limiting state agencies from adopting pollution rules stricter than federal standards set by the Environmental Protection Agency. It follows efforts by the Trump administration to roll back rules at the agency. The Alabama measure would allow new state pollution limits only if there is a direct link between exposure and bodily harm. Environmental groups say the bill prioritizes industry over public health.

More than 550 driving schools must close

The federal Transportation Department says more than 550 commercial driving schools in the U.S. that train truckers and bus drivers must close after investigators found they employed unqualified instructors, failed to adequately test students and had other safety issues.

The department announced its latest move to improve safety in the trucking industry on Wednesday.

DoorDash sees strong quarterly growth in sales

DoorDash’s revenue rose 38% in the fourth quarter as it gained new U.S. customers and added new services like restaurant reservations.

Total orders also rose 32% to 903 million, beating analysts’ forecasts.