In an unmistakable signal of its increasing assertiveness, China has announced a hefty 7.2% hike in its defense budget for the forthcoming fiscal year, amounting to approximately 1.78 trillion yuan ($244.99 billion). This marks a continued trajectory of heightened military spending that mirrors the geopolitical tensions brewing not only in Asia but globally. As the
Finance
The ongoing trade conflict between the United States and China has taken a significant turn, with China announcing plans to impose additional tariffs of up to 15% on various goods imported from the U.S. starting March 10. This development comes as a direct response to the latest round of tariffs introduced by the U.S. administration,
At a recent gathering of economic minds, St. Louis Federal Reserve President Alberto Musalem underscored concerns that inflationary pressures are becoming more pronounced. Speaking at the National Association for Business Economics conference, Musalem articulated a cautious outlook for the economy. While he maintained a hopeful perspective on inflation gradually reaching the Federal Reserve’s long-standing target
The discourse surrounding the potential extension of the Tax Cuts and Jobs Act (TCJA) is rife with conflicting perspectives and interpretations. Lawmakers from both parties are fervently exchanging charges, each claiming to understand the true beneficiaries of the proposed tax reforms. Central to this debate is the broader question of how tax structures impact various
In a rare expression concerning President Donald Trump’s trade policies, the esteemed investor Warren Buffett voiced his concerns regarding tariffs, describing them as a potentially destructive force within the economy. He emphasized that tariffs serve as a burden on consumers, effectively acting as a tax on goods, and metaphorically likened them to an act of
In an unthinkable turn of events, Citigroup found itself in the headlines for mistakenly crediting a customer’s account with a staggering $81 trillion—an error that was intended to be a mere $280. This colossal slip-up, which occurred last April, has drawn significant scrutiny to the bank’s operational procedures and risk management. The transaction was overlooked
The landscape of consumer financial protection in the United States is witnessing a dramatic overhaul with the recent leadership changes within the Consumer Financial Protection Bureau (CFPB). Under the guidance of acting director Russell Vought, the agency has made headlines by discarding several significant enforcement actions initiated by its predecessor, Rohit Chopra. This pivot underscores
The recent confirmation hearings for Jonathan McKernan, President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau (CFPB), have highlighted a growing tension between political expectations and regulatory responsibilities. McKernan faced serious scrutiny from Democrats, particularly Senator Elizabeth Warren, who pressed him on his commitment to uphold the core values and statutory mandates of
The intersection of politics and public welfare often leads to contentious outcomes, notably in the realm of environmental initiatives and home energy efficiency programs. As the Biden administration aimed to mobilize funds for energy upgrades through the Inflation Reduction Act of 2022, many states are now grappling with the consequences of a funding freeze initiated
As of 2025, the allure of gold has intensified, catching the eye of many investors eager for quick profits. The SPDR Gold Shares fund (GLD), which is a barometer for gold bullion prices, has surged approximately 11% this year alone, with a staggering 42% increase over the previous year. Meanwhile, gold futures have exhibited a