The inflation fight may be nearing the end, but the political one is just beginning. Former Federal Reserve vice chair Lael Brainard said she would support a rate cut at the central bank’s December meeting, warning that cracks are forming “under the hood” of an economy increasingly defined by an AI-fueled divide. “I would be…
China and India are pulling back from buying Russian oil after President Trump sanctioned two of Moscow’s biggest exporters Wednesday. Reuters reported Thursday that Chinese state-run petroleum firms PetroChina, Sinopec, CNOOC and Zhenhua Oil had suspended purchases of seaborne Russian oil after the Treasury Department announced sanctions on Rosneft and Lukoil, citing Moscow’s “lack of serious commitment…
WASHINGTON (AP) — In the midst of a federal government shutdown, the U.S. government’s gross national debt surpassed $38 trillion Wednesday, a record number that highlights the accelerating accumulation of debt on America’s balance sheet. It’s also the fastest accumulation of a trillion dollars in debt outside of the COVID-19 pandemic — the U.S. hit…
Blame games, tit-for-tat threats, off-again on-again meetings between US President Donald Trump and Chinese President Xi Jinping, and wild tariff swings seem to be the recent order of the day. According to former government officials and analysts, however, this should come as no surprise – it’s just the price you pay when diplomatic norms are…
The United States on Thursday announced sanctions on around 100 individuals, entities, and vessels, including Chinese companies, accused of facilitating Iran’s oil and petrochemical exports, the Treasury Department said. Among those targeted were Shandong Jincheng Petrochemical Group Co, described as an independent “teapot” refinery in Shandong Province that purchased millions of barrels of Iranian oil…
WASHINGTON (AP) — Social Security Administration Commissioner Frank Bisignano was named to the newly created position of CEO of the IRS on Monday, making him the latest member of the Trump administration to be put in charge of multiple federal agencies. As IRS CEO, Bisignano will report to Treasury Secretary Scott Bessent, who currently serves…
Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Imagine opening your mailbox to find a $2,000 “dividend” check from the government. That’s the eye-popping idea President Donald Trump is now floating — all thanks to his sweeping tariff policy. In a recent interview with One…
The Trump administration announced that a framework deal has been established to allow TikTok to continue operating in the United States. It sets the stage for further discussions between President Donald Trump and Chinese President Xi Jinping on Friday.The Treasury Secretary confirmed that the two private parties involved have agreed upon the commercial terms of…
In a major victory for the Donald Trump administration, a federal appeals court ruled Monday, that 19 mostly Democratic-led states and Washington, D.C., could not pursue their lawsuit challenging the dismissal of nearly 25,000 recently hired federal employees. The Fourth U.S. Circuit Court of Appeals, in a 2-1 decision, held that the states lacked standing…
Tankers in Spain Photographer: DeAgostini/Getty Images (Bloomberg) — The US sanctioned a Greek shipper and two Chinese port-terminal operators that it said facilitated the transport of Iranian oil, broadening a so-called maximum pressure campaign against Tehran. Antonios Margaritis was designated, along with a web of companies overseen by him in Greece and the Marshall Islands,…