Economy
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Beef is becoming a luxury as prices stay at record highs. They likely won’t come down until 2028, says expert
If you walked right past the meat aisle on your last trip to the grocery store, you’re not the only one. Beef is starting to feel like a luxury as prices stay at record highs, and there’s no end in sight for markups. Ground beef averaged about $6.70 per pound in March, nearly a dollar…
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Wall Street won’t like it—but Kevin Warsh may mark the end of your chatty, neighborhood Fed chairman
When Jerome Powell leaves the meetings that set the U.S. Federal Reserve’s base rate to go talk to the press, analysts and investors are on the edge of their seats. His nominated replacement, Kevin Warsh, wants their butts firmly and comfortably planted—preferably on a deep, over-stuffed couch. “The central bank should find new comfort in…
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‘I thought the oil would be much higher’: Trump’s rosy Iran war spin risks sending traders the wrong message
President Donald Trump said Tuesday he was caught off guard—pleasantly—by how well the U.S. economy held up during his war with Iran. Wall Street’s top analysts say he’s got part of the story right, and the rest dangerously wrong. “Even when it was down more a couple of weeks ago, I was surprised,” Trump told…
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Kevin Warsh would be one of the wealthiest Fed chairs ever and says he ‘lived the American Dream.’ Here’s what he wants for the central bank
Two sides of Kevin Warsh were presented to the world at his Senate Banking Committee hearing this morning. From the Republicans, a “battle-tested” economist, ready to step into the role of Federal Reserve chairman in his “finest hour” at a turning point for the economy. From the Democrats, Warsh is a “sock puppet”—both for Donald…
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How Trump’s war screwed you out of your Trump tax refund: Wall Street has the receipts
The promise was simple and seductive: pass the One Big Beautiful Bill, flood American wallets with historic tax refunds, and watch the consumer economy roar. For a few weeks this winter, it looked like it might actually work. Then the bombs started falling on Iran. Now Wall Street has delivered its verdict. Two of the…
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Inside Kevin Warsh’s opening statement: Inflation is a choice, independence is essential, and a couple of notable name drops
In a matter of hours, former Fed Governor Kevin Warsh will appear before the Senate Banking Committee in his first real test as a would-be central bank chairman. Warsh, with the backing of President Trump, seeks to return to the U.S. Federal Reserve where he formerly served as a governor—something like a chief of staff—to…
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This talent CEO says laid-off tech workers are ignoring a $300K ‘white-collar trade job’ with 81K openings a year
There’s angst in the air on college campuses and in offices across the country. Successive warnings on AI’s looming threat to automate swaths of entry-level white-collar work have put workers in a precarious position. And several large-scale layoffs this year have brought home the reality of those warnings. But not everyone is buying into the…
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UAE officials reportedly warned they may be forced to use yuan or other currencies if they run low on dollars amid the Iran war
The United Arab Emirates apparently dropped a hint the dollar’s dominance isn’t assured in the global oil trade if fallout from the Iran war gets worse. According to The Wall Street Journal, the UAE’s central bank chief raised the idea of a currency-swap line with Treasury Department and Federal Reserve officials during meetings in Washington, D.C.,…
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It’s crunch time for Kevin Warsh: Here’s how he might begin selling the idea of rate cuts—it requires some complex economic gymnastics
At 10 a.m. tomorrow morning, Kevin Warsh’s public campaign to lead the Federal Reserve begins. So far, markets, policymakers, and economists have only been able to speculate as to Warsh’s outlook and approach. But this week, for the first time since President Trump confirmed his nomination, his ideas will be laid out in the open…
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The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely
Dr Phillip Swagel is an optimist, both by nature and when he looks at the U.S. economy. This fact is perhaps at odds with what one might assume: Swagel is the director of the Congressional Budget Office (CBO), the nonpartisan agency that offers independent budgetary and economic analysis to Congress. Very often—an inevitable occupational hazard—the…