Bloomberg Federal Reserve Chairman Jerome Powell and his colleagues have made an important shift in their strategy for dealing with inflation in a prelude to what could be a more radical change next year. The central bank has backed off the interest-rate hikes it had been delivering to avoid a potentially dangerous rise in inflation that economic theory says could …

Bloomberg The biggest US banks have leaned on retail banking businesses to offset a prolonged slump in trading and drive record profits. Now comes the question of whether they can keep it up. The lenders, led by JPMorgan Chase & Co. and Bank of America Corp., are delivering on the promise that the stockpiles of deposits they spent years attracting …

Bloomberg Citigroup Inc. and Goldman Sachs Group Inc. both delivered better-than-expected earnings. Instead of celebrating, executives were assuring investors they’ll make more progress on revamping units that are dragging down results. Growth stalled at Citigroup’s consumer unit, so executives pointed to green shoots in a digital bank effort. Goldman Sachs had the biggest first-quarter trading decline among banks that have …