Powell says Fed likely to end bond trimming by end of 2019 WASHINGTON - Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is close to announcing a plan to end the reduction of the size of its massive bond portfolio, which looks likely by the end of the year. Powell, delivering the Fed's semiannual monetary report to Congress, faced a number of questions about the bond runoff from members of the House Financial Services Committee.

Whitmer will use current incentives to aid Fiat Chrysler LANSING, Mich. - Gov. Gretchen Whitmer said Wednesday that Michigan's incentives for Fiat Chrysler to add 6,500 jobs in the state will not require legislative approval. She said the state will use existing economic development programs to assist the automaker's planned $4.5 billion expansion, which was announced Tuesday. Details will be provided at an upcoming, yet-to-be scheduled meeting of the Michigan Strategic Fund, which gives companies money in exchange for job creation and investment, she said.

Alaska governor removes French as oil, gas commission chair JUNEAU, Alaska - Gov. Mike Dunleavy has fired the chair of a state commission tasked with overseeing oil and gas drilling in Alaska, saying Hollis French was neglectful in his duties. French argues his firing was politically motivated, brought on by his seeking commission action on a Cook Inlet gas leak. French said Wednesday that the evidence he's seen indicates his fellow commissioners were unhappy with his position.