On Wednesday, China announced a significant 7.2% increase in its defense budget for the 2025 fiscal year, totaling approximately 1.78 trillion yuan (about $244.99 billion). This figure is telling, revealing China’s intentions to bolster its military capabilities while mirroring the growth rates from the previous two years. At a time when economic growth is projected
Finance
Recent developments between the United States and China have reignited fears of a full-blown trade war that could spell disaster for both economies. On March 10, China unveiled new tariffs reaching up to 15% on selected U.S. goods, alongside restrictions on exports to 15 major U.S. corporations including Leidos and General Dynamics Land Systems. This
Alberto Musalem, President of the St. Louis Federal Reserve, recently sparked concern during his address at the National Association for Business Economics conference. While he presented a baseline prediction in which inflation approaches the Federal Reserve’s 2% target, he highlighted potential pitfalls in achieving this stability. His observations centering on inflation expectations call for careful
In the arena of tax policy, the battle over extending expiring tax cuts has revealed a complex tapestry of interests and interpretations. As Congress contemplates trillions in expiring tax breaks, both Republicans and Democrats have seized the opportunity to frame their arguments around these policies, but the reality is increasingly murky. What is presented as
Warren Buffett, the financial sage renowned for his investment prowess, recently broke his silence on President Donald Trump’s tariffs—a matter often wrapped in misconception and partisan rhetoric. In his characterization of tariffs as “an act of war,” he encapsulates the gravity of imposing punitive duties on trade. Regardless of one’s political allegiance, the economic ramifications
Last year, in a case that seems to glide between absurdity and alarm, Citigroup mistakenly credited a customer account with an astonishing $81 trillion, when the intended transfer was a mere $280. This exorbitant blunder, occurring last April, reflects much deeper issues within the banking giant, echoing a pattern of negligence that raises questions about
The recent decision by the Consumer Financial Protection Bureau (CFPB) to dismiss multiple enforcement lawsuits exemplifies the significant ideological shift occurring within the agency. After Russell Vought stepped into the acting director role, the CFPB quickly pivoted away from the aggressive enforcement strategies employed by his predecessor, Rohit Chopra. This abrupt transformation should raise concerns
In a politically charged environment, Jonathon McKernan emerged as the selected leader for the Consumer Financial Protection Bureau (CFPB), a role burdened with immense scrutiny and skepticism. Facing intense critiques from Democratic senators, notably Elizabeth Warren, McKernan emphasized his commitment to upholding consumer protection laws, yet his statements reveal a clear ideological schism within the
The ongoing tug-of-war between differing political ideologies is having palpable repercussions for consumers seeking to benefit from energy rebate programs designed to enhance home efficiency. Following the enactment of the Inflation Reduction Act, which allocated a hefty $8.8 billion for various home energy initiatives, a significant portion of these funds remains in limbo, particularly for
Gold prices are currently experiencing a significant surge, captivating the attention of many investors. Up approximately 11% in 2025, and having achieved a remarkable 42% increase over the past year, gold appears to be the golden ticket amid fluctuating market conditions. Yet, a reality check is desperately needed. The uptrend of gold might be appealing,