Bessent claims that the Wall Street Journal is following the orders of the CCP in its coverage of the Trump trade war.
Treasury Secretary Scott Bessent voiced his discontent with the Wall Street Journal’s coverage of U.S.-China trade matters, alleging that the publication is overly sympathetic to China. “Honestly, I think this is just a horrible article in today’s paper,” Bessent remarked at a CNBC investor event, shaking his head. “It feels like they’re under the influence […]
Most workers in the survey believe their pay isn’t matching increasing costs.
Inflation may have slowed down recently, but many Americans still feel its effects. A notable example is that 62% of workers believe their earnings haven’t kept pace with rising expenses over the last year, marking the highest level in four years, according to a new survey. This is a jump from 55% in 2022. This […]
Powell: Fed faces ‘no safe route’ as unemployment and inflation increase
Fed Chairman Powell Highlights Economic Challenges Jerome Powell, the Chairman of the Federal Reserve, expressed concerns on Tuesday regarding the U.S. economy, stating that serious threats loom regardless of the central bank’s strategy for reducing interest rates. During his address, Powell pointed out the difficult balancing act the Fed faces as it navigates a weakening […]
DOJ takes $15B in bitcoin from ‘pig butchering’ operation
The Department of Justice (DOJ) has revealed that it has seized a record-breaking sum of money in a single operation aimed at suspected fraudsters from Colombia. They managed to recover $15 billion worth of Bitcoin tied to the activities of Cheng Zhi, who is also known as Vincent. As of now, he hasn’t been arrested. […]
Labor Department cautions that Trump’s immigration policies may increase food costs
The Labor Department has raised concerns that the mass deportation efforts by the Trump administration could drive up food prices, attributing this potential rise to a dwindling workforce and increased demand for fresh produce. In new interim rules disclosed in the Federal Register earlier this month, the department noted that the decrease in immigrant labor […]
Manufacturer taken to court for sneaker’s embarrassing squeak
Portland, Oregon — A well-known shoe manufacturer is facing legal challenges over complaints regarding excessive squeaking. A class action lawsuit was filed last week in federal court, alleging that the design of On Inc.’s CloudTec sneakers results in “loud and embarrassing squeaks” which the company’s warranty does not cover. The complaint asserts, “No reasonable customer […]
Concerns among experts about an AI bubble in the stock market
There’s an increasing buzz about a possible artificial intelligence (AI) bubble as valuations for related companies skyrocket. Prominent figures like OpenAI’s CEO Sam Altman and Amazon’s Jeff Bezos have recently hinted that investors might be getting a bit too enthusiastic about AI, given the massive sums being poured into it. The situation is further complicated […]
Newsom approves legislation on AI chatbots
California Governor Signs AI Regulations for Child Safety California Governor Gavin Newsom recently finalized a bill aimed at regulating how AI chatbots engage with children, particularly concerning sensitive topics like suicide and self-harm. The legislation, known as SB 243, passed the state Legislature in mid-September. It mandates that developers of “companion chatbots” establish measures to […]
JPMorgan plans to invest as much as $10 billion in American companies important for national security.
JPMorgan Chase & Co. is set to invest as much as $10 billion directly into U.S. companies linked to national security. Announced on Monday, these investment efforts aim to bolster supplies and advanced manufacturing in areas like critical minerals, drug precursors, robotics, defense, and aerospace. There’s also a push for energy independence through investments in […]
American consumers bearing 55 percent of Trump tariff expenses.
A recent analysis by Goldman Sachs indicates that U.S. consumers will absorb 55% of the costs associated with President Trump’s tariffs this year. This finding has been echoed in several reports. According to the study, U.S. companies and foreign exporters will bear 22% and 18% of the tariffs’ financial burden, respectively. The economists at Goldman […]