Treasury Secretary Scott Bessent’s comments about the safety net program ventured into the so-called third rail of American politics.
Category: United States Politics and Government
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Ford Is Latest Carmaker to Blame Tariffs for Profit Slump
The company estimated that duties on imported cars and car parts would cost it $2 billion this year.
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Fed Keeps Rates Steady Despite Internal Divisions and Political Pressure
The central bank kept interest rates steady for a fifth straight meeting, despite badgering from President Trump. It has “made no decisions” on cutting rates at its next meeting, the Fed chair said.
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Cuts to Data Collection May Erode Reliability of Economic Statistics
The Bureau of Labor Statistics is reducing or ending the collection of data that is used to calculate the Consumer Price Index.
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White House Urges ‘Pro-Innovation Mindset’ to Crypto In New Report
In a 168-page report, the White House called on banking regulators, tax officials and U.S. lawmakers to implement policies that would advance the crypto industry’s agenda.
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Tensions Between Trump and Powell at Tipping Point Ahead of Fed Meeting
President Trump wants lower interest rates, but Jerome H. Powell, the chair of the Federal Reserve, is not yet ready to deliver them.
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U.S. Economy Grew in Second Quarter as Tariffs Scrambled Data
Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.
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What to Watch at the Federal Reserve’s July Meeting
The U.S. central bank is widely expected to hold interest rates steady for a fifth straight meeting despite badgering from President Trump to lower borrowing costs.
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What to Watch at the Federal Reserve’s July Meeting
The U.S. central bank is widely expected to hold interest rates steady for a fifth straight meeting despite badgering from President Trump to lower borrowing costs.
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Trump Urges the U.K. to Drill More Oil, Criticizing Its Energy Policy
President Trump said the North Sea was a “treasure chest,” but its high taxes were driving away oil producers.