Money, Wealth & Power—A Daily Look at the Financial World
Donald Trump is now facing questions over reports that he floated a multitrillion dollar “peace” scheme for Ukraine that would also unlock a massive cash windfall for the United States. The alleged $2 trillion concept, framed as a way to end the war while monetizing frozen Russian assets, has quickly become a test of how…
Congress has moved aggressively to dismantle a signature Biden-era limit on drilling, turning a once-technical regulatory fight into a clear test of how far lawmakers are willing to go to expand fossil fuel production. The latest vote does more than scrap a single rule, it caps a months-long campaign to roll back environmental safeguards across…
Rep. Troy Nehls of Texas is stepping away from Capitol Hill, removing one of President Donald Trump’s most vocal House allies from the next Congress and opening a rare vacancy in a deep-red district. His decision to retire at the end of his current term adds another name to a growing list of Republicans opting…
JPMorgan has just put a hard deadline on the Federal Reserve’s next move, warning that waiting beyond December to cut interest rates could turn a manageable slowdown into something more dangerous. By shifting its forecast toward an imminent pivot, the bank is effectively telling investors, businesses, and policymakers that the window to engineer a soft…
Only a handful of sitting lawmakers qualify for an ultrawealthy club of senators whose minimum net worth tops $50 million, based on their own financial disclosures. Using the latest 2022 estimates from official filings, I look at eight senators whose reported fortunes put them far above the typical American household and even most of their…
Wall Street is fixated on how much artificial intelligence is boosting Big Tech’s revenue, but it is still underestimating a quieter threat sitting on the balance sheet. The next hit to earnings may not come from slowing demand for chatbots, but from how quickly the physical infrastructure behind those models wears out and has to…
The Federal Reserve is heading into December with a weaker labor market and cooler inflation, a combination that has rapidly shifted expectations toward another rate cut. Investors, businesses, and households are now trying to gauge whether that softer backdrop is enough to overcome lingering anxiety inside the central bank about cutting too quickly. I see…
The warning that a housing correction “worse than 2008” may be looming is not coming from fringe voices, but from analysts who have watched years of surging prices collide with strained affordability and shifting investor behavior. After an era of rock-bottom mortgage rates and bidding wars, the market is now confronting the hangover, and the…
Smartphones used to be the upgrade engine of the consumer economy, pulling people into stores every two years and rippling spending across carriers, chipmakers, app developers, and retailers. Now upgrade cycles are stretching out, and that slowdown is starting to show up not just in device sales but in broader measures of economic momentum. I…
The fight over whether artificial intelligence will erase jobs or unlock new ones has shifted from abstract theory to urgent political and boardroom debate. Leaders in government, tech and labor are now sketching out starkly different futures, from mass disruption to managed transition, and their choices are starting to shape how quickly AI moves from…