US Federal Reserve Chair Jerome Powell is pushing back against President Donald Trump after deftly avoiding confrontation for months. In a question and answer session on Wednesday, Powell portrayed chaotically implemented tariffs as plainly bad for the economy; slammed the approach taken by the Department of Government Efficiency; and issued a legal defence for why…
In a time of great economic uncertainty, US President Donald Trumpās administration quietly took a step recently that could create even more: Secretary of commerce Howard Lutnick disbanded the Federal Economic Statistics Advisory Committee (FESAC).Ā Shutting down an obscure statistical advisory panel may not strike anyone as a scandal, much less an outrage. But as…
Although Donald Trump came to office riding a wave of hostility against āelites,ā his enablers are leading members of the establishment and plutocracy. As was true during his first term, Trump has surrounded himself with a mix of conventional Republican politicians, Wall Street financiers, and economic nationalists. But this time, these groups have been joined…
Donald Trump seems to be in a tearing hurry to make America great again. No one should quibble with such a mission: the world needs a prosperous and stable US. But this should not come at the cost of the worldās poorest. Yet, thatās precisely what appears to be happeningāas a fallout of the US…
Amy Gleason, Former U.S. Digital Service official, named as acting DOGE administrator. File | Photo Credit: via LinkedIn The acting administrator of the Department of Government Efficiency is a low-profile executive who has expertise in health care technology and worked in the first Trump administration. The White House on Tuesday (February 25, 2025) afternoon identified…
The US operates on a fiscal year that goes from 1 October to 30 September. Its budget for fiscal year 2024-25 is likely to run a deficit of about $2 trillion on revenues of roughly $5 trillion (with outlays of above $7 trillion).Ā Also Read: US economy: Is stagflation making a comeback amid Trump turbulence?…
A federal research agency that tracks the progress of Americaās students is being hit with almost $900 million in cuts after Elon Muskās Department of Government Efficiency found no need for much of its work. Itās unclear to what degree the Education Departmentās Institute of Education Sciences will continue to exist after Mr. Muskās team…
They say you should do something you love. Jared Isaacman, a tech billionaire nominated on December 4th as Donald Trumpās choice to run NASA, is so keen on space that he has spent hundreds of millions of dollars of his own money to go there not once, but twice. But Mr Isaacman did not go…
Insularity often stems from contempt, and the kind now being exhibited by U.S. President Donald Trump and his administration is no exception. Withdrawing from international commitments has become a defining feature of Mr. Trumpās foreign policy, and the latest decision to freeze foreign assistance adds to the list of drastic moves, following the withdrawal from…
