Atlanta Fed predicts negative 1.5 percent GDP growth in first quarter
The Atlanta Federal Reserve is projecting a 1.5% gross domestic product (GDP) contraction in the first quarter, flashing warning signs for the US economy. The forecast is a major change that has been fed to Atlanta over the past few weeks that comes more than a month after Chairman Trump took office. Last week, the […]
China accuses US of 'blackmail' after Trump warns of increased tariffs
Chinese officials have denounced President Trump's decision to add 10% tariffs on China's allegedly suspected imports in the international smuggling of the deadly synthetic drug fentanyl. “The fentanyl issue is an excuse that the US uses to impose tariffs, pressure and threats China, and they punish us for helping them. This will not resolve their […]
January inflation eases in Fed’s preferred measure
Federal Reserve Inflation Priority price gauge It was relaxed in January after steadily increasing throughout the fall. The personal consumption expenditure (PCE) price index rose 0.3% in January, easing an annual increase of 2.5% from 2.6% in December. The move was consistent with economists' expectations. “This is about the only inflation indicator the Fed can […]
Group calls for 'economic blackout' boycott Friday
Grassroots groups are urging Americans to refrain from spending money on Fridays in a roughly organized boycott of the current economic and political landscape. The “blackout” protest comes amid a surge in stubborn inflation that has raised prices for grocery and other everyday items. The accusation group is heading the People's Union USA, which is […]
Trump on 'clean' stopgap funding measure: 'Let's get it done!'
President Trump on Thursday threw support behind the efforts of “clean” ban funding measures, urging Congress to move forward with the legislative agenda with an ongoing resolution. “As usual, sleepy Joe Biden left us with total confusion. Last year's budget is not over yet,” Trump wrote late Thursday. The true societycast the Biden administration's responsibility. […]
Conservative calls to codify DOGE cuts complicate path to avoiding shutdown
The increase in calls among Hardline House conservatives to incorporate cuts to reduce in government funding bills developed by the government's Department of Efficiency (DOGE) complicates efforts to avoid shutdowns two weeks before the looming deadline. The plea is poised to hold speaker Mike Johnson (r-la.) in a tricky, but familiar position that manages his […]
Fight over Trump's spending powers boosts shutdown odds
Congressional negotiators who will compete to avoid government shutdowns next month appear to have hit a wall over the question of whether to limit Trump's powers and limit money spending. On one side of that disparity is a democratic old-time customer who has already hammered the White House for refusing to support a program previously […]
Democratic senator presses Trump CFPB nominee: 'Who's really going to be in charge?'
Sen. Tina Smith (D-Minn.) pressed President Trump's candidate to lead the Consumer Financial Protection Bureau (CFPB) on Thursday on who will make key decisions at the institution after dismissing several lawsuits against the financial company while appearing before Congress. Trump appointed Jonathan McCernan, a former board member of the Federal Deposit Insurance Corporation (FDIC) as […]
Teacher union head taking fight to Elon Musk through Tesla stock
Randy Weingarten, chairman of the American Federation of Teachers, is urging top Tesla investors to consider the company's current assessment on behalf of union members. Weingarten leads one of the largest unions in the country.I wrote a letter on Thursday The reasons for the review are pointing to falling Tesla stock prices, latest financial disclosures, […]
Microsoft calls on Trump to loosen AI chip export restrictions
Microsoft is calling on the Trump administration to loosen Biden-era restrictions on exporting artificial intelligence (AI) chips. The AI Proliferation Rules, released on President Biden's final day, set a cap on chip sales in most countries around the world, exempting a narrow list of 18 US allies and partners. “As drafted, the rules undermine the […]