Author: Sara William

Allies of President Donald Trump are pressing for an investigation into the ongoing restoration of the Federal Reserve’s headquarters, costs for which have ballooned to $2.5 billion. Any evidence of mismanagement or fraud, as White House officials have suggested, could prove a useful pretext for removing Fed Chair Jerome Powell, whose resistance to cutting interest rates this year has angered the president. But the price tag has less to do with “ostentatious” features than the challenges of building — particularly underground — in what was once a swamp near the Tidal Basin along the Potomac River. Foundation work for the Fed expansion was so…

In a sweeping policy move that could reshape the landscape of retirement investing in America, former President Donald Trump—now a leading figure in Republican economic policy—has announced plans to allow 401(k) retirement plans to invest in private equity and other alternative assets traditionally reserved for institutional investors. The proposal, which Trump has pushed in coordination with industry lobbying groups and financial regulators, would direct federal agencies to revise regulations and clear the way for retirement plan sponsors to offer access to non-traditional asset classes, including private equity, hedge funds, real estate, and venture capital. For decades, 401(k) plans—used by over…

Bitcoin Ticker Widget BTC.CM= Loading… Bitcoin has once again shattered expectations, surging to an all-time high of $118,872.85 early Friday morning as institutional investors piled into cryptocurrency exchange-traded funds (ETFs) at a record pace. The flagship digital asset was last trading around $117,955.25, up nearly 4% on the day, according to Coin Metrics. The rally, which reignited after Wednesday’s Federal Reserve minutes hinted at potential shifts in monetary policy, marks the first new record for bitcoin since May 22 and adds further momentum to what has already been a historic year for digital assets. The spark behind the latest rally came from Thursday’s ETF data, which showed $1.18 billion in net inflows into Bitcoin…

While the United States’ aggressive tariff strategies continue to dominate global trade headlines, a quieter but increasingly tense economic confrontation is unfolding between China and the European Union — one that could have lasting implications for global markets, supply chains, and industrial policy. Behind the scenes, tit-for-tat measures between Brussels and Beijing have intensified in recent months, exposing a fractured relationship marred by accusations of unfair trade practices, overcapacity, and geopolitical divergence. The European Union recently restricted Chinese companies from participating in public tenders for medical devices, citing concerns over procurement transparency and national security. China quickly retaliated by imposing import curbs on European medical products, marking a fresh escalation…

Homebuilder stocks rallied Thursday, in a sign that residential construction will benefit from the sweeping court ruling striking down President Donald Trump’s tariffs on imported good. Shares of D.R. Horton and Lennar, the two largest U.S. homebuilders, rose about 0.7% in early trading, alongside a similar bump for other public companies in the sector. The benchmark S&P 500 gained 0.87% at the opening bell. In a surprise ruling late Wednesday, the little-known U.S. Court of International Trade shot down Trump’s sweeping Liberation Day reciprocal tariffs on nearly all trading partners, as well as his 20% anti-fentanyl levies on China, Canada, and Mexico. The Trump administration plans to appeal the ruling, and…

Although Elon Musk said Doge didn’t cut Aids programs, global health officials describe widespread and disastrous effects resulting from the White House’s throttling of foreign aid. The disruptions have caused new HIV infections to surge in recent months and threaten to derail plans to eradicate the virus as a public health threat by 2030. In one stark case, the cuts have cast uncertainty over the rollout of a newly developed injectable that scientists have hailed as “the closest thing to a vaccine that we have ever had in HIV response”. Musk says his cuts did no defunding Musk was projected 10ft tall…

One day after House Republicans approved an expensive package of tax cuts that rattled financial markets, President Trump pivoted back to his other signature policy priority, unveiling a battery of tariff threats that further spooked investors and raised the prospects of higher prices on American consumers. For a president who has fashioned himself as a shrewd steward of the economy, the decision to escalate his global trade war on Friday appeared curious and costly. It capped off a week that saw Mr. Trump ignore repeated warnings that his agenda could worsen the nation’s debt, harm many of his own voters, hurt the finances of low-income…

The Federal Trade Commission on Wednesday sent Media Matters for America a letter demanding communications between the progressive media watchdog and advertising entities as the commission probes whether the watchdog colluded with advertisers to pull funding from Elon Musk’s X. Media Matters was notified in a letter dated May 20 from the FTC that it is being investigated, a source familiar with the letter told. The letter, which The NY Budgets has viewed, directs Media Matters to turn over all documents, materials and communications with a range of ad entities and related organizations — including the World Federation of Advertisers…

Two Israeli Embassy staff members were shot and killed by a gunman who later yelled “Free Palestine!” while being arrested in Washington, DC, Wednesday night, authorities said. The slain staffers, who the Israel’s Ministry of Foreign Affairs named as Yaron Lischinsky and Sarah Milgrim, were a couple who officials say were soon to be engaged. The two were attending an event for young professionals at the Capital Jewish Museum hosted by the American Jewish Committee. At around 9 p.m. outside the museum, they were approached by a gunman who opened fire and killed them, officials said. The suspect, whom DC…

The United States’ loss of its last triple-A credit rating and mounting concerns about government debt are threatening to disrupt the relative calm in financial markets that has prevailed since President Trump began pausing tariffs early last month. One factor jarring markets is a bill in Congress that would make Mr. Trump’s signature 2017 tax cuts permanent and could add trillions of dollars to federal debt. A House committee voted to approve the bill on Sunday night although it was expected to remain a focus of contentious congressional debate. On Friday, the ratings firm Moody’s cited the legislation, along with broader concerns about the…