Lummis thinks senators have agreed on a stablecoin bill and anticipates voting next week.
Senator Cynthia Lumith (R-Wyo.) announced on Thursday that she believes an agreement on the “final language” of the stable law in the Senate has been reached, with hopes of bringing the bill to the floor next week. “It was quite a marathon this week, but I think we have the final wording,” she told Hill. […]
Changes in debt: Credit card and auto loan activity slows as student loans rise
At the start of the year, many Americans slowed down on credit card and auto debt, yet they began missing student loan payments, which are now showing up on credit reports. New data highlights a rising financial concern. Household debt grew from $167 billion to $18.2 trillion in the first quarter, according to a recent […]
Wholesale prices dropped sharply in April during the trade conflict.
In April, wholesale prices experienced their most significant drop since the early days of the pandemic, coinciding with Trump’s ongoing trade war. The Producer Price Index (PPI), which tracks wholesale inflation, decreased by 0.5% from March to April. This marks the largest monthly decline since April 2020, just after the pandemic led to widespread economic […]
Trump criticizes Tim Cook regarding Apple’s production in India
President Trump is engaging with Apple CEO Tim Cook regarding the company’s production plans in India, stating that iPhone manufacturing should focus more on the US. “I had a chat with Tim yesterday; he’s my friend, and I’ve always treated him well. He brought $500 billion investment, but now it seems like everything’s being built […]
US economy may encounter ongoing supply disruptions, says Powell
Federal Reserve Chairman Jerome Powell expressed on Thursday that the economy may be entering a phase marked by more unpredictable inflation and regular supply shocks, in contrast to the low inflation and unemployment levels seen in recent decades. On Wednesday, Powell noted, “inflation might progress more than during the intercrisis period of the 2010s,” referring […]
Walmart announces plans to increase prices because of higher expenses from tariffs.
Walmart announced on Thursday that the effects of President Trump’s trade war would significantly impact costs, warning that tariffs would negatively affect the economy and lead to increased prices, which consumers might feel sharply. The retail giant indicated plans to increase prices this month and into early summer as items impacted by tariffs make their […]
Marjorie Taylor Greene and Lawler clash over tax requests.
Rep. Greene Targets Vulnerable House Republican Rep. Marjorie Taylor Greene (R-Ga.) has taken aim at one of the most at-risk House Republicans as he, along with several colleagues from blue states, indicates a willingness to oppose President Trump’s major policy initiative. On Wednesday, Greene stirred controversy among House Republican leaders by advocating for an increased […]
Those benefiting and those not from Trump’s halt on China tariffs
Earlier this week marked the end of the initial phase of President Trump’s tariffs and trade conflict. The United States announced noteworthy reductions in taxation with China. Both Washington and Beijing agreed to lower their tariffs by 115 percentage points from what they had set at the height of this brief trade war. Going forward, […]
CFPB pulls back on planned rule targeting data brokers
The Consumer Financial Protection Bureau (CFPB) has withdrawn a proposal from the Biden administration aimed at limiting data brokers from selling personal information of Americans. In a notice filed Wednesday morning, CFPB head Russell Vought stated that such actions were “not necessary or appropriate at this time” and indicated a need for an “update to […]
Schumer: Trump’s visit to the Middle East appears more like a personal business trip
Senate Democratic leader Chuck Schumer (NY) criticized President Trump’s recent trip to Saudi Arabia, Qatar, and the United Arab Emirates, labeling it more of a “personal business venture” than an official presidential visit. On the Senate floor, Schumer expressed concerns, stating, “Donald Trump’s trip to the Middle East looks like a personal business venture.” He […]