JPMorgan starts first round of layoffs with more cuts later this year: report
The JPMorgan Chase manager began notifying employees of job cuts last week as part of a series of layoffs expected by the bank throughout 2025. Barron's reported On Wednesday, I quote people familiar with the issue. Less than 1,000 employees will be fired in February, the report said, adding that the bank will announce more […]
DOGE has 100 staffers as Musk vows to find $1T in cuts: Trump
WASHINGTON – The government's efficiency department now has around 100 staff seeking cuts in federal spending, President Trump said Wednesday. “I want to praise Elon… They started at 12. I call them 12 geniuses. They started at 12 and went to 20 and 25, but now they help them There are up to 100 people […]
Farah Griffin: Trump 'giving himself distance' by putting Musk in charge of massive cuts
Former White House staffer Alyssa Farrr Griffin said President Trump is “giving distance” by being responsible for controversial cuts to federal spending at various agencies. “What Trump is doing with Elon being in charge of overseeing the federal government, and these massive cuts are that he is keeping his distance from when he inevitably isn't […]
U.S. Inflation Surges To 3% In January, Slashing Hopes Of Interest Rate Cuts
Shoppers reach for a carton of eggs to customers to limit purchases in South Pasadena, California on February 10, 2025. The revival of the bird flu, which first hit the US in 2022, has ravaged customer farms, causing egg prices to rise and rattle consumers who are used to buying this meal staple for just […]
Consumer Prices Up 3% In January, Crushing Chances of Rate Cuts
In January, US inflation rose. The Labor Ministry said Wednesday that the Consumer Price Index (CPI) rose 0.5% from the previous month, up more than expected. Compared to a year ago, consumer prices have risen by 3%. Economists had expected the monthly inflation pace to 0.3% after prices rose 0.4% in December. The median forecast […]
Inflation Stayed Sticky in January, Keeping Fed Rate Cuts at Bay – The New York Times
US inflation rose to 3% in January, and the Federal Reserve stepped up its lawsuit to extend its suspension of interest rate cuts. The consumer price index jumped higher than expected, with data from the Labor Bureau of Statistics Office shown Wednesday, up 0.5%, the fastest monthly increase since December to August 2023. Last month, […]
GOP leaders downplay Medicaid cuts as they seek $2T in savings
House Republican leaders on Tuesday downplayed the possibility of cutting Medicaid benefits as they seek a settlement bill with savings of up to $2 trillion. Speaker Mike Johnson (R-LA.) and majority leader Steve Scullies (R-LA.) said that discussion-based changes to Medicaid include reductions in labor requirements and fraud. He tried to reassure the public. Cuts […]
DOGE cuts $900 million from agency that tracks American academic progress – The Associated Press
WASHINGTON (AP) – Federal research institutes tracking the progress of American students has since been hit by a cut of nearly $900 million Elon Musk The government's efficiency department has found that it doesn't require much of its work. It is unclear how well the Ministry of Education's Institute of Education Sciences will be after […]
S&P 500 falls as Powell urges caution on rate cuts, trade tensions escalate: Live updates – CNBC
The trader works on the floor of the New York Stock Exchange on February 4, 2025. NYSE Stocks were largely unchanged on Tuesday as investors diluted a careful commentary from Federal Reserve Chair Jerome Powell on interest rates. With the potential escalation of the US tariffs and the world trade war, concerns remain in the […]
Progressive group sounds alarm on Medicaid cuts
The American Medical Association released – a new report from a group alongside the Democrats protects our care and highlights the potential changes in the GOP against Medicaid. {beacon} health care health care Big story Progressive Group warns against possible Medicaid reductions a New Report It protects our care from democratically aligned groups and […]