WASHINGTON - President Donald Trump said on Thursday that the "Golden Age" of America had begun and that it was "back and open for business" while addressing business and political leaders gathered at the World Economic Forum’s annual meeting in Davos, Switzerland.

More immediately, however, the rise in Treasury yields is hammering investor calculations for U.S. stocks, which are based in part on the so-called risk-free rate (and slump lower when rates move higher), as well as bets the Fed will reduce its benchmark lending rate over the first half of the year.

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change.

London's blue-chip FTSE 100 hit a record high on Monday for the second session in a row as investors awaited Donald Trump's return to the White House for fresh insights on his stance on tariffs and international relations.

President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.

The Fed — led by Jerome Powell, who Trump first nominated — makes its borrowing costs decisions independent of the White House. Any sense of political interference in its interest rate decision-making process would roil financial markets.

From decorations to executive orders, the 47th president has taken an aggressive posture in attempting to remake government.

The FBI director, IRS commissioner and vice chair of the Federal Reserve, all criticized by Republicans, have opted to resign instead of staying in their jobs, which have terms designed to straddle presidential administrations.

U.S. officials say the Pentagon will begin deploying as many as 1,500 active duty troops to help secure the southern border in the coming days.

President Donald Trump started his second administration with a blitz of policy actions to reorient the U.S. government.

President Donald Trump started his second administration with a blitz of policy actions to reorient the U.S. government.