Last weekend, Treasury Secretary Scott Bessent went on television and said people who wanted to retire right now were not paying attention to the stock market. On the NBC program “Meet the Press,” referring to those who have “put away for years in their savings account,” he said the following: “I think they don’t look…
For the past week, President Trump has been urging calm in the face of the financial chaos that he created and resisting calls for him to rethink his approach. “I know what the hell I’m doing,” he told Republicans on Tuesday as the massive tariffs he had imposed sent global markets into a tailspin. “BE…
Trump administration officials made the rounds this weekend to try to answer the nearly unanswerable: Why tank the stock market by starting a trade war? And are you subtracting trillions of dollars in unrealized losses out of people’s savings on purpose? Treasury Secretary Scott Bessent’s appearance on NBC’s “Meet the Press” was particularly odd. “Most…
Wall Street billionaires are not used to being on the outside looking in. But that is where they find themselves after President Trump ignored their appeals to call off his tariff plans which they fear could endanger the economy. With the backdrop of rapidly mounting stock market losses, corporate titans have worked every angle —…
President Trump’s top aides raced to defend his expansive global tariffs on Sunday, downplaying the prospect that his new taxes on imports could cause a significant spike in prices or tip the U.S. economy into a painful recession. As Mr. Trump departed Mar-a-Lago for another day of golfing at his club in Jupiter, Fla., his…
There was little rest on Wall Street this weekend. There was plenty of anger, anxiety, frustration, and fear. Anger at President Trump for a brash and chaotic rollout of tariffs that erased trillions of dollars in value from the stock market in two days. Anxiety about the state of the private equity industry and other…
What’s behind door No. 1? President Trump likes a big splash, and he’s not holding back for Wednesday’s introduction of reciprocal tariffs on America’s trading partners: Expect a major announcement in the Rose Garden. Otherwise, detail is lacking. That prompted a major stock sell-off, with the S&P 500 experiencing its worst one-month loss since 2022…
VIDEO: Former President Donald Trump plays pro-am at LIV Golf Miami Former President Donald Trump paired with Palm Beach County’s Brooks Koepka and Sergio Garcia for a pro-am round on Thursday at Trump National Doral Miami. Eric J. Wallace, Wochit Despite calls to focus on other matters, Trump remains deeply engaged in the world of…
The world’s most widely followed stock-market benchmark slid into a correction on Thursday, a drop that underscores how the two-year-long bull market is running out of steam in the early days of the Trump administration. The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Washington over the past few weeks. On-again,…
President Trump’s simultaneous trade wars with Canada, Mexico, China and the European Union amount to a huge economic and political gamble: that Americans will endure months or years of economic pain in return for the distant hope of re-industrializing the American heartland. It is enormously risky. In recent days, Mr. Trump has acknowledged, despite all…