Money, Wealth & Power—A Daily Look at the Financial World
The Trump administration is betting that a new, ultra‑expensive visa pathway can turn immigration into a direct profit center for the federal government. Branded the Trump Gold Card, the program invites wealthy foreigners to pay seven‑figure fees in exchange for a fast track to live and invest in the United States, with officials arguing that…
President Donald Trump has ordered the most sweeping federal shift on marijuana in decades, directing agencies to treat cannabis less like heroin and more like a tightly controlled medicine. The move reclassifies marijuana under federal law, accelerates research, and opens a path for prescription use, while leaving state-level legalization battles very much intact. The change…
Elon Musk is reassessing one of his most high-profile political experiments, conceding that the Department of Government Efficiency, or DOGE, delivered only modest gains and is not a model he wants to repeat. His shift in tone marks a rare public admission that his aggressive push to streamline Washington under President Donald Trump has not…
Federal prosecutors have moved against a small but telling slice of the global race for artificial intelligence hardware, charging a group accused of funneling restricted Nvidia chips toward China just as Washington’s broader export regime faces fresh political scrutiny. The case turns on older-generation accelerators that were supposed to be safely outside the most sensitive…
Financial markets are bracing for a profound shift at the top of the United States central bank as President Donald Trump signals he is close to naming a new Federal Reserve chair. With investors increasingly convinced that Trump will choose a loyalist who shares his impatience for lower interest rates, anxiety is building across bonds,…
The Trump administration is using the country’s largest anti-hunger program as leverage in a political and legal fight with Democratic-led states, threatening to cut off key funding unless they hand over more detailed data on millions of low-income residents. At the center of the clash is whether the federal government can demand expansive personal information…
Wall Street is mounting an unusually public effort to keep President Donald Trump from installing longtime ally Kevin Hassett as the next chair of the Federal Reserve, turning a normally discreet vetting process into a full scale lobbying campaign. The fight is not just about personalities, it is about whether the central bank will prioritize…
The Trump family’s aggressive bet on digital assets has run straight into the teeth of a sharp Bitcoin sell-off, abruptly cooling what had looked like a runaway crypto payday. A slump that started as a broader market correction has now translated into steep paper losses for President Donald Trump, his relatives, and the loyal investors…
President Donald Trump says he has settled on his next choice to lead the Federal Reserve and is preparing to reveal the decision, signaling a pivotal moment for monetary policy as markets watch for clues on the central bank’s future path. His comments suggest the search phase is effectively over and that the White House…
President Donald Trump is pressing ahead with plans for a new White House ballroom, but he will not say how much of the project he will personally fund. The refusal to disclose his own contribution has turned what might have been a routine facilities upgrade into a test of transparency, ethics, and influence in the…