Energy Secretary Chris Wright announced the cancellation of nearly $4 billion in clean energy project grants, mostly awarded during the final months of President Joe Biden’s term. These grants primarily supported carbon capture and storage technologies, along with cleaner industrial processes involving cement and natural gas. Key recipients affected include Heidelberg Materials, Eastman Chemical, and…
Google Challenges Antitrust Ruling as DOJ Pushes Broader Reforms in Search Monopoly Fight
Alphabet’s Google announced on Saturday that it will appeal a recent antitrust ruling that proposed less stringent measures to address its online search dominance. The company expressed confidence that the original decision against it was incorrect and is awaiting the court’s formal opinion. Google’s appeal aims to challenge a federal judge’s less aggressive remedies compared…
Trump-Era Regulators Push to Loosen Bank Capital Rules, Sparking Debate Over Financial Stability
The Trump administration, through its appointed financial regulators, is preparing a proposal to ease key capital rules for the nation’s largest banks. This initiative would reduce the capital cushion that megabanks are required to maintain under post-2008 financial crisis regulations. The plan is being crafted by the Federal Reserve, the Office of the Comptroller of…
Rising U.S. Debt Fuels Global Financial Strain, Crowds Out Capital for Emerging Markets
The growing U.S. national debt, which has surged dramatically in recent years, is beginning to show significant global consequences beyond American borders. According to the Institute of International Finance (IIF), U.S. borrowing costs and Treasury market volatility can influence sovereign debt markets worldwide. When yields on U.S. Treasuries rise, they tend to affect other nations’…
FDA Approves Moderna’s mNexspike COVID Vaccine for High-Risk Groups Amid Policy and Funding Shifts
The U.S. Food and Drug Administration (FDA) has approved a new COVID-19 vaccine developed by Moderna, named mNexspike. Unlike Moderna’s current vaccine, Spikevax, this newly approved shot is not intended to replace it but serves as a second option. The approval marks a significant step toward next-generation COVID-19 vaccines, utilizing a refined design that targets…
Japanese artist Takashi Murakami debuts Ohio museum exhibit featuring over 100 pieces
Japanese contemporary artist Takashi Murakami has always worked in many different forms—paintings, sculptures, designer fashion items with brands like Louis Vuitton, album covers, and even special merchandise with Major League Baseball. Now, he’s bringing colorful portraits to a U.S. museum. His show, “Takashi Murakami: Stepping on the Tail of a Rainbow,” opens Sunday at the…
Tariffs vs Subsidies: Government Tools in Trade
In the complex arena of international trade, governments wield powerful economic instruments to protect domestic industries and influence global commerce. Two of the most significant tools in this arsenal are tariffs and subsidies – mechanisms that operate in fundamentally different ways yet serve similar protective purposes. Understanding these instruments is crucial for anyone seeking to comprehend how nations navigate…
Jamie Dimon Backs Closing Carried Interest Loophole, Citing Social Gains and Bond Market Risks
JPMorgan Chase CEO Jamie Dimon publicly endorsed taxing carried interest, a favored tax loophole for private market investors. Speaking at the Reagan National Economic Forum, Dimon aligned with U.S. President Donald Trump’s recent push to close this provision, which allows fund managers to benefit from lower capital gains taxes rather than paying ordinary income tax…
What Is Quantitative Easing and How It Affects Markets?
Quantitative easing (QE) represents one of the most powerful monetary policy tools available to central banks when traditional interest rate cuts prove insufficient to stimulate economic growth. This unconventional approach involves central banks purchasing large quantities of government bonds and other financial securities from commercial banks and financial institutions, effectively injecting new money directly into…
The Laffer Curve: Debating Tax Cuts and Revenue
The relationship between tax rates and government revenue has puzzled economists and policymakers for centuries. At the heart of this debate lies the Laffer Curve, a theoretical framework that suggests cutting taxes might actually increase government revenue under certain conditions. This counterintuitive concept has sparked intense political and economic discussions since economist Arthur Laffer popularized…