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Trump's Pledges Could Lead to Soaring Inflation and Job Losses, Study Indicates

By Olivia Reed / Oct 15, 2024

A comprehensive analysis by the Peterson Institute for International Economics has cast doubt on the efficacy of former President Donald Trump's proposed economic policies, particularly in addressing the affordability crisis in the United States. The study suggests that Trump's agenda, which includes significant tariffs, large-scale deportations, and influencing Federal Reserve decisions, could exacerbate inflation, stifle economic growth, and reduce employment rates.

Voiceitt's AI-Driven Solution Facilitates Remote Work for Individuals with Speech Impairments

By Lily Simpson / Oct 15, 2024

oiceitt's AI: A Game Changer for Speech-Impaired Remote Work

Port Strike Concludes: What's Next?

By Joshua Howard / Oct 15, 2024

The International Longshoremen’s Association (ILA) strike, a potential threat to the US economy, was resolved within three days, causing minimal disruption to supply chains. The ILA, representing 50,000 workers at the United States Maritime Alliance (USMX), returned to work after an agreement was reached on wage increases, a key point of contention.

Hoda Kotb Departs from NBC's 'Today' Show

By John Smith / Oct 15, 2024

Hoda Kotb, a beloved co-host of NBC's flagship morning program "Today," has revealed her decision to step down from her role early next year. Known for her warm presence and engaging interviews, Kotb has been a staple on the show since 2017, succeeding Matt Lauer amidst his dismissal due to workplace misconduct allegations. With a career spanning over two decades at NBC, Kotb has become synonymous with the "Today" show, co-hosting not only the main segment but also the later "Hoda & Jenna" talk show.

OpenAI Secures Massive Funding: Time to Impress

By Thomas Roberts / Oct 15, 2024

OpenAI, the startup behind ChatGPT, is being hailed as the next big thing in Silicon Valley, with some predicting it could become the new Google or a great disruptor. But as it transforms from a nonprofit research lab into a for-profit AI powerhouse, it's worth scrutinizing OpenAI and its ambitious, sometimes chaotic, leadership.

Surging Jobs Numbers Exceed Expectations, Sparking Fed Criticism

By Thomas Roberts / Oct 15, 2024

In a recent move to bolster the job market, the Federal Reserve aggressively cut interest rates by a substantial half-point last month, as explained by Chair Jerome Powell during a post-decision news conference. However, the release of unexpectedly strong job market data this Friday has sparked debate, with some analysts questioning the Fed's decision-making process.

Zuckerberg Reaches $200 Billion Milestone, Approaches Third-Richest Status

By Joshua Howard / Oct 15, 2024

Mark Zuckerberg's financial empire continues to expand, with the Meta CEO now ranking as the second-richest person globally, overtaking Jeff Bezos and Bernard Arnault. According to Bloomberg's Billionaire Index, Zuckerberg's personal wealth has reached $206 billion, placing him just behind Elon Musk.

Historical Insights: The Aftermath of an Interest Rate Cut

By Emily Johnson / Oct 15, 2024

The Fed's Rate Cut: What Historical Trends May Reveal

Platinum Bars Now Available at Costco for $1,089

By Laura Wilson / Oct 15, 2024

Costco, the renowned big-box retailer, is expanding its portfolio of precious metals with the introduction of Swiss-made platinum bars. Available on its website for $1,089.99, these 1-ounce bars feature the Roman goddess of prosperity, Lady Fortuna, and are aimed at collectors, with a Costco membership required for purchase.

Boeing Increases Proposal to Settle Labor Strike

By Benjamin Evans / Oct 15, 2024

Boeing Increases Contract Offer as Machinists' Strike Persists

Potential Shortages Due to Extended Port Strikes

By Joshua Howard / Oct 15, 2024

A potential strike by longshore workers at East and Gulf Coast ports on Tuesday could disrupt the flow of many popular products that pass through these hubs. While the immediate impact may not be drastic, prolonged work stoppages could lead to shortages and increased prices for a variety of goods.

The Impact of a Booming Job Market on Inflation

By Olivia Reed / Oct 15, 2024

The US economy continues to astonish with its robust job market, raising eyebrows over the pace at which inflation might cool down. The Bureau of Labor Statistics reported on Friday that the economy added a remarkable 254,000 jobs in September, surpassing the anticipated 140,000 job gains forecasted by economists surveyed by FactSet. This figure also represents a significant leap from the upwardly revised August figure of 159,000 jobs. Concurrently, the unemployment rate dipped slightly to 4.1% from 4.2%.

Why the Key Borrowing Rate Is Back Above 4%

By Elizabeth Taylor / Oct 15, 2024

American consumers are witnessing a significant shift in borrowing costs as the benchmark 10-year US Treasury note yield has surged to a level not witnessed since August. On Monday, this key rate breached the 4% threshold for the first time, reaching a peak of 4.033% in the day, as reported by Tradeweb. By 3 pm ET, the yield settled at 4.026%. This upward movement follows a remarkable September jobs report that has prompted investors to reassess their Federal Reserve rate cut projections for the remainder of the year.

Israel's Economy Suffers Amid Escalating Conflict

By Jessica Lee / Oct 15, 2024

In late September, as Israel's year-long conflict intensified and its credit rating faced another downgrade, Finance Minister Bezalel Smotrich acknowledged the strain on the country's economy but emphasized its resilience. "Israel's economy bears the burden of its longest and most expensive war," Smotrich stated on September 28, following the assassination of Hezbollah leader Hassan Nasrallah in Beirut, which heightened concerns about escalating tensions.

What Drove the Week's Record-Breaking Stock Surge

By Rebecca Stewart / Oct 15, 2024

The stock market is seeing record highs yet again, with investors swiftly moving into riskier assets like Bitcoin and tech stocks following the Federal Reserve's long-awaited rate cut last week. The S&P 500 and Dow Jones Industrial Average both reached new peaks after the Fed announced a half-point interest rate cut, signaling a shift from the previous aggressive hiking cycle that had pushed rates to a 23-year high.

TikTok Removes Russian State-Linked Accounts Sputnik and RT for Undermining US Election Integrity

By Sophia Lewis / Oct 15, 2024

TikTok has taken decisive action to safeguard the integrity of the upcoming US presidential election by removing accounts linked to two Russian media groups accused of conducting "covert influence" operations. The social media platform identified the accounts as being associated with Rossiya Segodnya and TV-Novosti, which are behind the Sputnik news agency and the RT broadcaster, respectively. TikTok has classified these groups as "state-affiliated" and has removed them for violating its community guidelines.

Consumers Rejoice: Lower Inflation in the Previous Month Indicates Potential Decrease in Borrowing Costs

By Emily Johnson / Oct 15, 2024

Americans and Federal Reserve officials have a significant development to celebrate: Inflation showed a notable decline in the previous month, providing a potential green light for the central bank to proceed with interest rate cuts. The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures (PCE) price index, indicated that the cost of goods and services for consumers increased by 2.2% year-on-year in August, down from 2.5% in July. This reduction brings the annual inflation rate closer to the Fed's target of 2%.

Addressing the US Housing Affordability Crisis: Why Lower Rates Aren't the Answer

By Amanda Phillips / Oct 15, 2024

The Federal Reserve's recent interest rate reduction has been welcomed by prospective homebuyers, as it translates into lower borrowing costs. The rate cut, which was the first in a series of potential decreases, has brought mortgage rates down from a 23-year high. However, this alone is unlikely to resolve the complex issues plaguing America's housing market.

California Governor Rejects AI Safety Legislation

By Emma Thompson / Oct 15, 2024

California Governor Vetoes AI Safety Bill Amid Industry Concerns

Argentine Poverty Rate Exceeds 50% Amid Milei's Austerity Measures

By Lily Simpson / Oct 15, 2024

In Argentina, the economic landscape has been marred by a sharp rise in poverty, with official figures indicating that nearly 53% of the population was living below the poverty line in the first half of the year. This significant increase from 41.7% at the end of the previous year and a stark contrast to the 26% seven years prior, reflects the profound challenges faced by the country amidst a series of economic turmoils.