US debt exceeds $37 trillion for the first time as OBBBA allows for further increases
Last week, the federal government’s gross debt exceeded $37 trillion for the first time ever. This limit allows for an increase of trillions more since President Donald Trump recently enacted the one big beautiful bill law (OBBBA). On July 4th, Trump signed the OBBBA, which raised the debt limit by $5 trillion. This move effectively […]
Goldman Sachs plans to open a new campus in Dallas, Texas, for 5,000 employees by 2028.
Anton Schutz from Goldman Sachs’ Yang Mendon Financial Services is setting the tone for revenue season with insights on both US and regional banks. Goldman Sachs, a prominent player on Wall Street, is currently developing a new campus in Texas. This facility will span 800,000 square feet, boasting modern features aimed at enhancing employee experience. […]
States increase taxes on the wealthy to address budget deficits and counterbalance federal reductions.
Blue States Prepare to Increase Taxes on Wealthy Residents Several states in the US, particularly blue ones, are gearing up to impose higher taxes on affluent inhabitants. This decision aims to generate additional revenue through various initiatives, one notably labelled the “Taylor Swift Tax.” This development follows the president’s recent signing of the One Big […]
Banks show interest in the Trump administration’s plan for Fannie and Freddie IPOs, sources say to Bartiromo.
Recent reports suggest that Fox Business’s Maria Bartiromo is in talks with President Trump at the White House regarding the potential relaunch of Fannie Mae’s business. It seems Wall Street banks are keen on pushing for an initial public offering (IPO) related to Fannie Mae and Freddie Mac. According to Bartiromo, these banks are uniting […]
China sets limits and cautions foreign buyers about accumulating rare earth supplies.
Concerns Over Rare Earth Stockpiling by Foreign Companies Joshua Ballard, the CEO of USA Rare Earth, recently spoke about the significance of rare earth elements in technological advancements during an appearance on “Claman Countdown.” As China intensifies its restrictions on rare earth storage, it seems to be gaining new leverage over foreign nations. Reports indicate […]
Social Security recipients could receive a 2.7% cost-of-living adjustment in their 2026 payments.
Social Security Turns 90: Insights and Challenges Recently, President Donald Trump addressed the 90th anniversary of Social Security, highlighting initiatives aimed at enhancing service for beneficiaries. A new report indicates that the cost-of-living adjustment (COLA) for next year is expected to be significant. The Senior Citizens League released an update suggesting that projections show the […]
Mortgage rates fall a bit to 6.58%
In a recent interview, U.S. Treasury Secretary Scott Bescent emphasized President Trump’s focus on discussions with Vladimir Putin, updates on US-China trade negotiations, and solutions to the housing affordability crisis. Freddie Mac shared some important news on Thursday. The latest research from Freddie Mac revealed that the average rate for 30-year fixed mortgages dropped to […]
Worries about inflation resurface as July PPI rises beyond expectations
Wholesale Inflation Surges in July Wholesale inflation unexpectedly increased in July, raising concerns about inflationary pressures in the economy. The Bureau of Labor Statistics revealed a 0.9% rise in the Producer Price Index (PPI) from June, marking a 3.3% increase compared to last year. This surge surpassed economists’ expectations, who predicted a modest 0.2% monthly […]
Starbucks CEO aims for 4-minute service target with Green Apron initiative
Starbucks CEO Aims for Quick Service and Revamped Experience During a recent leadership meeting, Starbucks CEO Brian Niccol discussed essential priorities and growth strategies, including plans to introduce protein cold forms to their menu innovations. He mentioned a goal: getting customer orders into their hands within four minutes. This new approach, known as “Green Apron […]
Schmid from the Kansas City Fed supports maintaining stable interest rates
Discussion on Federal Reserve Policies On a recent panel of The Big Money Show, discussions revolved around President Donald Trump’s proposals to modify the Federal Reserve, led by Jerome Powell. Members of the Federal Reserve, responsible for shaping monetary policy, expressed support for keeping interest rates steady to curb any potential inflation brought on by […]