Money, Wealth & Power—A Daily Look at the Financial World
Calls to sideline President Donald Trump using the 25th Amendment have moved from law-school hypotheticals to live political debate, as critics question whether he is “unable to discharge the powers and duties of his office.” The stakes are enormous: Section 4 of that amendment is the only constitutional tool that lets a president’s own team…
The United States is escalating its industrial policy fight over computer memory just as global prices are already climbing, and the timing could hardly be more sensitive for consumers and allies. Commerce Secretary Howard Lutnick is threatening tariffs of up to 100% on imported DRAM and other memory chips unless leading Asian manufacturers commit to…
President Donald Trump’s latest tariff threats have collided with already fragile market nerves, reviving a “Sell America” mood that is hitting stocks, bonds and the Dollar at the same time. Investors are not just reacting to one policy headline, they are reassessing whether U.S. assets still offer the safety and stability that underpinned the long…
Scott Bessent’s promise of a “gigantic” wave of tax refunds landed like a lightning bolt in the middle of an already heated economic debate. Now he is spelling out what that headline number really means for households, and how a one-time windfall could ripple through spending, savings and politics as filing season approaches. Instead of…
The fight over a $2.5 million no-bid contract has turned a routine state audit into a political stress test for Nebraska’s governor. State Auditor Mike Foley is accusing the administration of tilting the process toward a favored vendor, raising questions about whether emergency contracting rules were stretched beyond recognition. At stake is not only one…
The Trump team has walked away from a controversial plan to fold the Bureau of Alcohol, Tobacco, Firearms and Explosives into the Drug Enforcement Administration after an unusually unified backlash from both gun control advocates and gun rights groups. The reversal halts an internal Justice Department effort that would have redrawn the map of federal…
Federal investigators have quietly launched a criminal probe into Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Frey, focusing on whether state and local leaders illegally interfered with immigration enforcement operations. According to a person familiar with the matter, the inquiry centers on an alleged effort by Minnesota Democrats to impede federal agents during a…
President Donald Trump has ordered a sweeping halt to some of the harshest collection tools used against borrowers who have fallen into default on federal student loans. The administration is freezing wage garnishment, tax refund seizures, and other involuntary collections, giving millions of struggling borrowers a temporary reprieve as the government rethinks how it pursues…
The long running fight over how to police digital assets in the United States has lurched back to life, with Senate Democrats racing to salvage a sweeping crypto market structure bill and schedule fresh talks with industry leaders on Friday. After days of public infighting, canceled votes and market jitters, Washington is trying to prove…
Tariffs were sold as a way to make foreign producers pay, but the latest Federal Reserve survey shows the bill is increasingly landing in American checkout lines. From groceries to machinery, higher import duties are quietly being folded into prices, turning trade policy into a stealth tax on shoppers. The shift is subtle, but it…