The Trump administration is disputing a new paper from the New York Federal Reserve asserting that US consumers and businesses are bearing the bulk of the higher costs from tariffs imposed last year. “The paper is an embarrassment,” National Economic Council Director Kevin Hassett told CNBC on Wednesday. “I think it’s the worst paper I’ve…
The US can’t afford to outsource its chipmaking future, says former Trump adviser Gary Cohn. “The United States, as we know, has to become a chip manufacturer,” Cohn, who served as director of the National Economic Council during President Trump’s first term, said on Yahoo Finance’s Opening Bid. “We cannot be dependent on the rest…
A slow summer for markets this is not. Traders entered Wednesday’s session digesting more President Trump tariff chaos that has sent copper prices ripping higher. This is in addition to fresh uncertainty on the future of the Federal Reserve. Some 10 minutes into the opening bell on Wall Street, however, investors shook it off to…