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Watch live: Trump kicks off red-state campaign swing at Texas truck plant
President Trump will kick off his red-state campaign swing Thursday afternoon with a visit to a manufacturing plant in Denton, Texas. Trump is likely to use the stop to highlight his trade and tariff agenda, as well as the Trump administration's efforts to boost domestic production. The visit comes as the president faces persistent concerns...
Treasury targets Iranian auto, rail sectors in latest round of sanctions
The Treasury Department sanctioned Iranian auto and rail industries Thursday, the latest salvo in its economic campaign against the Islamic Republic. The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned the entirety of those industries — going after automobile, train and manufacturing companies — which the administration views as critical sources of funding for...
Fed's Kashkari says inflation 'still too high' despite lower PCE data than expected
Federal Reserve Bank of Minneapolis President Neel Kashkari said Wednesday that inflation remains “too high,” after the the Bureau of Economic Analysis (BEA) released data showing that annual inflation remained above the central bank’s 2 percent target in August. “Inflation is still too high,” Kashkari told CNBC’s Steve Liesman at a Council on Foreign Relations...
10-year Treasury yields hit 24-year high
The yield on the 10-year U.S. Treasury bond hit a 24-year high during Thursday trading, forecasting higher borrowing costs for Americans. The 10-year bond yield topped 5.34 percent early Thursday morning, the note’s highest mark since April 2002. That month, the yield reached a closing peak of 5.48 percent. The note has since decreased to...
Trump Dangles Alaska Gas Project as Part of Korean Investment Package
The long-delayed project, which the developer has not yet formally greenlit, would deliver Alaskan gas to Asian markets but take several years to construct.
Trump economic approval hits new low: Survey
Many Americans share a negative view of President Trump's handle on the economy, with the numbers hitting a new low this week, according to a recent poll. The survey from The Associated Press/NORC Research Center, published Thursday, found 65 percent of U.S. adults blame Trump's policies for high prices more than other economic drivers. The...
Calls for gas tax suspensions grow as Americans struggle with high prices
With gasoline prices hovering near an average of $4.50 a gallon amid the Iran war, calls to suspend federal and state gas taxes are gaining momentum. Multiple states, including Indiana and Georgia this week, have either suspended or reduced their own fuel taxes to ease prices at the pump, which have been elevated by the...
GOP wrestles with rising data center backlash weeks before midterms
Republicans are growing increasingly worried that data centers are a liability in the midterms, as concerns over higher power bills tied to the facilities turn into a pocketbook issue for voters. The debate over the issue was on full display Wednesday, after Senate Democrats blocked legislation championed by Sen. Jon Husted (R-Ohio) — who is...
Fed's Warsh seeks to avoid forward guidance. His colleagues aren't listening
Federal Reserve Chair Kevin Warsh has sought to move the central bank away from forecasting its policy decisions during his four-plus months in charge. But after the Fed raised interest rates earlier this month, multiple officials have indicated future hikes are coming. “If the economy evolves in a manner broadly consistent with my forecast, one...
Indiana governor extends gas tax suspension
Indiana Gov. Mike Braun (R) said Wednesday he is extending his state’s gas tax suspension as fuel prices elevate due to the ongoing war in Iran “Today I announced another gas tax extension with additional relief for farmers,” Braun said in a post to social platform X. “Our farmers have the hardest job in America.”...