Business

President Trump gave an optimistic stemwinder of a speech, in front of the Detroit Economic Club, proclaiming a Trump boom that has started sooner and come on faster than any of the lefty critics are ever willing to admit. That’s why I call it Booming at Detroit.Here’s how he began the speech: "Under our administration, growth is exploding. Productivity is soaring. Investment is booming. Incomes are rising. Inflation is defeated. […]

JPMorgan CFO Jeremy Barnum warned Tuesday that President Donald Trump's push to put a 10% cap on credit card interest rates could hurt the broader economy and reduce access to credit."What's actually simply going to happen is that the provision of the service will change dramatically. Specifically, people will lose access to credit, like on a very, very extensive and broad basis, especially the people who need it," Barnum said […]

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 […]