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By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — A Senate committee on Wednesday approved the nomination of White House economic adviser Stephen Miran to the Federal Reserve’s board of governors, setting up a likely approval by the full Senate, which would make Miran the third Trump appointee to the seven-member board.

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The White House has pushed for an expedited Senate approval of Miran, who was nominated by President Donald Trump to replace former Fed governor Adriana Kugler. Kugler stepped down Aug. 1. Miran would, if approved, simply finish her term, which expires in January. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street is heading for more records on Wednesday following a surprisingly encouraging report on inflation and a stunning forecast for growth from Oracle because of the artificial-intelligence boom.

The S&P 500 rose 0.4% and was on track to set an all-time high for a second straight day. The Dow Jones Industrial Average was down 186 points, or 0.4%, as of 1:15 p.m. Eastern time, and the Nasdaq composite was 0.3% higher after both likewise set records the day before.

Stocks have been hitting records in large part because Wall Street is expecting the economy to pull off a delicate balancing act: slowing enough to convince the Federal Reserve to cut interest rates, but not so much that it causes a recession, all while inflation remains under control.

Many things must go right for that to happen, and an encouraging signal came from Wednesday’s report showing that inflation at the U.S. wholesale level unexpectedly slowed in August. It’s a relief following months of reports suggesting inflation would be tough to get under the Fed’s target of 2%, with President Donald Trump’s tariffs set to add only upward pressure on prices. read more

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Imagine a game of musical chairs. Except there are 12 chairs and 100 people.

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That’s what the job market is like right now, says Mandi Woodruff-Santos, a career coach and host of the “Brown Ambition” podcast.

“There’s not a lot of meat on the bone,” she says. read more

For 25 years, Robert Bonner was committed to working under McDonald’s iconic Golden Arches. But by the time the native Floridian had severed ties with the franchise founded in Des Plaines by Ray Kroc in 1955, he burned everything that was related to the restaurant chain — awards, shirts, valuable collectibles — in his backyard.

Bonner was the owner-operator of six McDonald’s stores in Illinois and the St. Louis region. But he left the chain after enduring numerous alleged racist actions from McDonald’s that he says impeded his opportunity for entrepreneurial growth and generational wealth.

“Those Golden Arches … you have the belief that at some point this is going to go the way you were promised it would go,” he said. “The day you get the keys, it becomes an us and them mentality, corporate versus the people who run the store.”

Bonner is among dozens of Black McDonald’s store owners around the nation demanding a jury trial in a racial discrimination and breach of contract lawsuit against McDonald’s Corp. and McDonald’s USA, LLC. This June, Bonner was among more than 40 plaintiffs who called for a boycott of the franchise. The Chicago-based civil rights law firm of Loevy + Loevy filed the federal suit in 2023, stating Black owner and operators were forced out of the company over internal practices and policies that include, among others, forcing Black owners into low-profit stores in areas with high crime rates and denying Black franchisees the ability to buy stores in white communities. read more