Business

U.S. Attorney for the District of Columbia Jeanine Pirro said on Monday the Federal Reserve repeatedly failed to respond to outreach from her office regarding alleged cost overruns and Chairman Jerome Powell’s congressional testimony, prompting prosecutors to initiate a legal process that she said "is not a threat.""The word 'indictment' has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just […]

Traders on prediction platforms Kalshi and Polymarket are betting that the nation’s highest court is unlikely to rule in favor of President Donald Trump's tariffs.Traders on Kalshi now give a nearly 32% chance that the Supreme Court will side with Trump’s tariff plan, down 14 points after oral arguments in November signaled potential skepticism from the justices.The trading volume, or the total dollar amount wagered on this market, is a […]

President Donald Trump's call for a 10% cap on credit card interest rates could impact access to credit cards for many American consumers while also impacting small businesses.Trump on Friday declared he wants to impose a 10% cap on credit card interest rates to be implemented for one year starting on Jan. 20, saying he wants to prevent consumers from being "ripped off" by credit card issuers with interest rates that may […]

President Donald Trump’s Venezuela policy showed signs of taking effect this week as the country reopened oil wells closed under a U.S. embargo and restarted crude exports, according to Reuters.Two supertankers departed Venezuelan waters late Monday carrying about 1.8 million barrels of crude each, moves that may mark the first shipments under a proposed 50-million-barrel supply deal between Caracas and Washington, according to the report.The vessels were heading north toward […]

California Gov. Gavin Newsom acknowledged that the state’s proposed wealth tax is bad economics.Newsom said he feels vindicated in opposing the proposed wealth tax after reports showed some of California’s wealthiest residents moving money and businesses out of the state, warning the measure would damage the economy and drive away investment."This is my fear," Newsom said in a Politico interview on Monday. "It’s just what I warned against. It’s happening.""The […]

Pentagon chief Pete Hegseth announced on Monday a plan aimed at making the U.S. a global leader in artificial intelligence, drones and space technology, arguing that a risk-averse culture has slowed innovation and prevented the Pentagon from providing the best resources to its service members.Hegseth was speaking alongside SpaceX CEO Elon Musk at the company's facility in Brownsville, Texas, where he unveiled a strategy to advance the Pentagon's technology."Today is […]

Apple and Google announced Monday that the two tech giants have forged a major multi-year partnership that will power Siri with Google Gemini later this year. The deal, which will also bring Google cloud technology to iPhones, represents a major shift in Apple’s tech ecosystem, as the tech giant has never before relied on another company to power its AI tools. "Apple and Google have entered into a multi-year collaboration under which […]

Former House Speaker Kevin McCarthy explained why President Donald Trump is unlikely to be rewarded "early" for his foreign policy achievements on "Kudlow" Monday."Those things that President Trump are doing, like Venezuela, Cuba, even could get Ukraine and get Iran," McCarthy told FOX Business. "Those are historical, those are world changing, but you don't get rewarded early for it."McCarthy spoke with FOX Business’ Larry Kudlow about how Republicans should approach […]

Don’t martyr Jay Powell. He was a terrible Fed chairman, but he’s not a criminal. Over his tenure, he consistently missed the Fed’s inflation targets with the worst price hikes in 40 years. He was the most political Fed chairman in memory. Raising rates to stop President Trump’s tax cut boom back in the first term, lowering rates to reelect Vice President Harris and the Democrats in the last election — […]