REPUBLICAN STATES ECONOMY
Thousands could lose SNAP benefits under 'big, beautiful bill' in state Trump won by 1%
A new bill in the US House of Representatives could affect food aid in a state which Donald Trump won in 2024 presidential elections by just 1 percent. The bill proposes changes to the Supplemental Nutrition Assistance Program. It may cut over $300 million from Wisconsin's food programs. More than 700,000 people in Wisconsin could lose food benefits. The bill now goes to the Senate for consideration.
Pivoting from tax cuts to tariffs, Trump ignores economic warning signs
President Trump, despite warnings about increasing national debt and potential harm to voters, escalated his global trade war with new tariff threats, unsettling investors. This move followed House Republicans' approval of tax cuts, further contributing to market uncertainty.
Trump’s new tariff threats show trade uncertainty here to stay
Hopes for easing trade tensions under Donald Trump were dashed as he threatened new tariffs on the EU and smartphones, causing market instability. Despite some progress with the UK and potential deals with India, Trump asserted his aggressive trade strategy, leaving business leaders wary of ongoing uncertainty.
US dollar falls amid market jitters over Trump’s EU tariff threats
The US dollar faced a broad decline on Friday. Investors sold off the currency due to President Trump's escalating trade war. He suggested tariffs on the European Union. This action renewed worries about the impact on the global economy. The Japanese yen gained strength. Data showed Japan's inflation rose. The British pound also increased against the dollar.
How Trump admin links Harvard to Chinese military
Harvard University faces scrutiny over alleged ties to a sanctioned Chinese paramilitary group and collaboration with researchers linked to the Chinese military and Iranian government. A House committee letter demands transparency regarding these partnerships, citing national security and ethical concerns. The accusations include hosting and training members of the XPCC, an organization implicated in human rights abuses against Uyghurs.
Trump vowed to ease sanctions on Syria. How quickly that happens is up for debate
President Trump's intention to lift Syrian sanctions has sparked internal debate regarding the pace and conditions. The administration is weighing a swift removal against a phased approach tied to demands like dismantling militant groups and normalizing relations with Israel.
US at risk of stagflation, Fed right to hold: Jamie Dimon
Jamie Dimon cautions against complacency, highlighting the risk of stagflation amid geopolitical tensions, deficits, and persistent price pressures. He acknowledges the Federal Reserve's cautious approach to interest rates. Dimon also notes that trade uncertainties and policy shifts are causing companies to pause expansion, impacting investment banking, while also understanding investors cutting US dollar assets.
Republicans proposing nearly $1 trillion in cuts to Medicaid and food stamps. Will you be impacted?
House Republicans are proposing significant cuts to Medicaid and SNAP, totaling nearly $1 trillion, to advance President Trump's policy goals. These cuts could lead to millions of Americans losing access to critical benefits, shifting costs to states and potentially impacting hospitals and local economies. The proposed changes include stricter work requirements and reduced federal funding.
Gold shines as debt fears grow, dollar dips, and Trump’s $5T tax bill rattles markets—will safe-haven demand keep driving prices higher amid weak bond sales and Fed uncertainty?
Gold prices rise as investors turn cautious amid U.S. debt concerns and economic uncertainty. The Dollar index dipping below 100, weak demand for Treasury bonds, and ongoing tax bill debates have pushed investors toward gold’s safety. With Moody’s rating doubts and Fed officials’ upcoming comments, gold’s role as a safe haven grows stronger. This story explores how these economic shifts impact gold prices and what to expect in the days ahead.
S&P 500 dips, debt concerns in focus as Trump's tax bill faces test
Wall Street indexes declined amid concerns over President Trump's tax-cut bill and its potential impact on the national debt. Bond yields rose following a Moody's downgrade, pressuring technology stocks. Target's lowered forecast and Wolfspeed's potential bankruptcy further contributed to market unease, overshadowing recent gains driven by tariff pauses and trade truces.
Gold soars over 3%—why is the gold price rallying, and could it surpass $3,350 resistance to ignite a powerful new bull run? here’s what the future look like
Gold price surge grabs headlines as tensions spike in the Middle East and US politics face major roadblocks. Trading near $3,310, gold is reacting to news that Israel may strike Iran’s nuclear sites, while Trump’s fiscal bill faces strong opposition in Congress. The metal has broken out of its recent range, signaling potential for more gains as investors rush to safe havens. With key resistance levels in sight and global uncertainty rising, all eyes are now on geopolitical moves and Washington’s next step. This story reveals why gold price is rallying and what could come next.
Asian stocks gain, oil rises on Israel-Iran report
Oil prices surged following reports of potential Israeli preparations for strikes on Iranian nuclear facilities, as indicated by US intelligence. Asian stocks experienced gains, while US equity futures showed slight declines. Geopolitical tensions are resurfacing, potentially impacting markets that had recently stabilized after tariff-related volatility.
Trump's 'One Big Beautiful Bill Act': How remittance tax plan might deliver a big economic blow to US allies?
Trump's 'One Big Beautiful Bill Act'': A new US bill proposes a 5% tax on money sent from the US to other countries. This targets non-citizens and foreign nationals. It could impact countries like El Salvador, Honduras, and Guatemala. Mexico opposes the tax, citing its impact on vulnerable workers. The bill may face legal and logistical challenges. It could also affect Indians living in the US.
'Dried out prune'? 'Corrupt' and 'incompetent'? It's getting nasty between Springsteen and Trump
Bruce Springsteen criticizes Donald Trump's administration during a concert in England. Trump retaliates, calling Springsteen names and suggesting an investigation into his and Beyonce's support for Kamala Harris. Springsteen defends his statements, referencing Trump's unsuitability for the presidency. This isn't the first time Springsteen has spoken out against Republican presidents. Trump often targets musicians who criticize him.
Moody's downgrade rating vs Donald Trump administration: US Stock market, Treasury yields are feeling the heat
Moody's cut the United States' sovereign credit rating to "Aa1" from "Aaa". The move had a negative impact on US stock market.
US Stock futures slide after Moody’s credit rating downgrade triggers market Jitters over $36 trillion debt, rising yields, and tech sell-off
US stock futures slide after Moody’s downgraded the country’s credit rating from “Aaa” to “Aa1,” raising alarm over America’s growing $36 trillion debt. This unexpected jolt hit Wall Street early Monday, sending Treasury yields higher and tech stocks like Tesla, Nvidia, and AMD sharply lower. The downgrade reflects rising concerns about the U.S. fiscal outlook and comes just as Trump’s stalled tax cut bill clears a key committee. With Fed officials speaking and big earnings ahead, investors are bracing for a volatile week. Read on to understand what this downgrade means and how it could shape markets ahead.
Trump tax bill passes key panel to advance in US Congress
Despite Republican infighting over spending cuts, a key congressional committee approved President Trump's tax-cut bill, advancing it to the House. Hardliners initially blocked the bill due to disputes over Medicaid cuts and green energy tax credits. Nonpartisan analysts estimate the bill would add trillions to the national debt, prompting Moody's to downgrade the U.S. credit rating.
What led to Moody's downgrading the U.S. credit rating to Aa1, first time in over a century? Here are the reasons the agency cited and why Americans should be worried
In a historic move, Moody's Ratings lowered the United States' credit rating. This marks the first time in over a century that the US lacks a top-tier rating from major agencies. The downgrade stems from concerns about rising national debt and fiscal management. Moody's joins Standard & Poor’s and Fitch Ratings in lowering the federal government’s credit rating.
Moody’s downgrade sparks political blame game as US loses final triple A credit rating
Moody’s has stripped the US of its final triple A credit rating, citing rising debt and soaring interest payments. The downgrade has triggered political finger-pointing, while economists warn of increased borrowing costs and economic uncertainty. With GDP shrinking and spending plans stalling, America’s financial credibility faces mounting pressure
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