Money, Wealth & Power—A Daily Look at the Financial World
Donald Trump’s aggressive immigration agenda is reshaping who fills American classrooms and job pipelines, and the first beneficiaries are often U.S. students who suddenly face less competition from abroad. As visa rules tighten and foreign enrollment softens, domestic applicants are stepping into seats, scholarships, and internships that once defaulted to international talent. The shift is…
Stubbornly high prices colliding with a suddenly fragile job market have pushed the Federal Reserve into its most uncomfortable spot since the early pandemic. The central bank is being forced to choose between defending its inflation-fighting credibility and cushioning a labor market that is no longer the picture of resilience. Whatever it decides next, the…
Key pillars of the United States economy are starting to look fragile, even as major stock indexes hover near record territory and market volatility remains subdued. Corporate profits, consumer spending and credit quality are all flashing early warning signs that do not square with the calm in equities. The gap between what is happening on…
Ukraine’s latest long-range strike on a Russian refinery has done more than torch steel and concrete. It has crystallized how a campaign once dismissed as symbolic is now biting into Moscow’s export machine and wiping tens of billions of dollars off projected oil revenues. The estimated 37 billion dollar hit to fuel exports is not…
President Donald Trump has escalated his hard line on immigration with a sweeping promise to “permanently pause” migration from what he calls “Third World Countries,” turning a long-running political fight into an existential test of how the United States defines its borders and its values. His vow, delivered in the wake of a deadly shooting…
Americans have spent the past few years watching paychecks stretch less far, but Treasury Secretary Scott Bessent is now arguing that the worst of the affordability crunch is finally giving way to a more forgiving phase. His message is blunt: the combination of cooling inflation, targeted tax changes, and tariff relief should start to show…
California’s budget picture has darkened again, with a projected $12 billion deficit colliding with a long list of ambitious Democratic priorities. Even as the state confronts slower revenue growth and the hangover from past surpluses, lawmakers are still advancing favored initiatives that test how far a progressive agenda can stretch in leaner times. I see a…
President Donald Trump is selling his $2,000 “tariff dividend” as a way to make foreign countries pay for a windfall that lands directly in Americans’ bank accounts. The experts running the numbers say something very different is happening: households would pay more in higher prices than they receive in any check. When I walk through…
The American job market is sending mixed signals: official data still shows relatively low unemployment and steady paychecks, yet workers describe their prospects as bleak and employers are quietly tightening the screws. The disconnect is so sharp that even Federal Reserve officials now argue that the labor market can feel terrible without the spectacle of…
Bill Ackman is preparing to take his flagship hedge fund business to the public markets, potentially giving everyday investors a rare way to buy into one of Wall Street’s most closely watched managers. The plan centers on a new listed vehicle and a possible firm-level float in 2026, raising the question that matters most to…