US Steel and Nippon Steel establish significant collaboration
US Steel Confirms Merger with Japan’s Largest Steel Industry Player On Wednesday, US Steel announced that it had officially merged with Japan’s top steel manufacturer, Nippon Steel. President Trump applauded the merger, describing it as a collaboration expected to increase investments in several states including Pennsylvania, Indiana, Arkansas, Minnesota, and Alabama. He emphasized that this […]
Trump urges the House to approve ‘amazing’ crypto legislation: ‘NO DELAYS, NO ADDITIONS’
Trump Advocates for Flat-Coin Regulation Bill On Wednesday, President Trump called on the House to pass a new bill regulating flat-coins for payments, which had recently received Senate approval. He urged lawmakers to get the legislation on his desk without making alterations. “The Senate has passed an incredible bill that will make America a leader […]
DOJ reveals biggest cryptocurrency confiscation linked to ‘pig butchering’ frauds
The Justice Department revealed on Wednesday that it has executed the largest seizure of cryptocurrency ever linked to what’s referred to as pig breeding fraud. A civil forfeiture complaint was filed by the U.S. Attorney’s Office in the District Court for the District of Columbia, involving the seizure of over $225.3 million in cryptocurrency. Federal […]
Central bank forecasts increased inflation and slower economic growth for the US
Federal Reserve Lowers Economic Forecasts The Federal Reserve has revised its expectations for the US economy this year, downgrading several key economic indicators. The central bank is observing a slowdown in economic growth, an uptick in unemployment, and rising prices, all influenced by significant changes in US trade policies and escalating geopolitical tensions. For 2025, […]
Central bank maintains interest rates as Trump escalates criticism of Powell
The Federal Reserve decided to keep interbank rates steady in the 4.25-4.5% range on Wednesday, despite some shifts in trade policies and ongoing pressure from President Trump. Officials at the Fed have pointed out that the overall health of the U.S. economy appears strong, with recent trends showing a decrease in unemployment and inflation rates. […]
Bessent: Musk is ‘more like a Viking,’ while I’m ‘more like a ninja’
Treasury Secretary Scott Bescent addressed his ongoing differences with tech billionaire Elon Musk, suggesting their business approaches simply diverge. “We had disagreements, but we both want to reach the same goal,” Bescent mentioned during a recent episode of the “Pod Force One” podcast with New York Post columnist Miranda Devine. “We want to cut down […]
Trump criticizes Powell and hints at appointing himself to the Federal Reserve
President Trump has suggested ramping up his criticism of Federal Reserve Chairman Jerome Powell and expressed a desire to join the central bank himself. “Maybe I should go to the Fed,” Trump speculated from the White House on Wednesday, just hours before the Fed was set to announce its latest decision on interest rates. “Am […]
Home construction hits the lowest point since the pandemic.
In May, the number of new housing units that started construction hit its lowest point since 2020, largely due to the challenges posed by elevated interest rates. The Commerce Department reported a 9.8% decrease in home construction from April to May. If this trend continues, the annual rate could drop to 1.25 million units, down […]
Senate approves stablecoin regulations in significant crypto development
On Tuesday, the Senate approved a significant piece of legislation aimed at providing a regulatory framework for payment stability in the cryptocurrency sector. Lawmakers voted 68-30 in favor of the Genius Act, which aims to set rules for dollar-backed cryptocurrencies. This marks a notable achievement, as it’s the first time a major crypto-related bill has […]
Central bank expected to maintain steady rates during trade tensions and Middle East unrest
The Federal Reserve is expected to keep interest rates steady at this week’s meeting, primarily due to ongoing trade tensions and geopolitical unrest impacting the commodity market. Market predictions point to stable interbank lending rates, with expectations to remain at 4.25-4.5% since January. A tool used by the CME indicated a 99.8% chance of no […]