Afternoon Briefing: Community wants city's hate-group task force to focus on police
Metra hired a team of outside lawyers, who worked more than seven months, to conduct an internal investigation that cost the agency nearly $1.57 million. But the outcome of the 2023 investigation remains shrouded, after the rail agency refused to make public reports or memos produced by the law firm, McGuireWoods.
The investigation stemmed from anonymous complaints made to Metra about the agency's Police Department, and bills from the attorneys hint at the scope of the work: McGuireWoods undertook analysis related to an 'investigation of potential disparate treatment.' Also included among 130 pages of attorneys bills was reference to 'EEO' incidents and complaints, according to documents obtained by the Tribune through a Freedom of Information Act request.
Here's what else is happening today. And remember, for the latest breaking news in Chicago, visit chicagotribune.com/latest-headlines and sign up to get our alerts on all your devices.
City touts mission to target employee ties to hate groups; community demands police be the priority
Buying nail polish or ordering frozen meat for delivery can seem pretty routine. But one Chicagoland couple is working to make such products and services more readily available and accessible to America's growing Muslim population. Read more here.
Nick Martinelli's 'unorthodox' game and confidence is a bright spot in an up-and-down Northwestern season
Martinelli's 18-point outing in Northwestern's 70-49 victory over Ohio State was his 12th straight game of 15 or more points, the longest Wildcats streak since John Shurna did it in 13 straight in 2012. Read more here.
Ben Johnson is building his 1st Chicago Bears team step by step: Coaching staff. Roster. Offense. And culture.
Chicago Sky trade the No. 3 draft pick to the Washington Mystics for guard Ariel Atkins
B-Series hip hop festival opens at a Dance Center fighting for survival
The Dance Presenting Series looks different today than it did in 1974, evolving and fighting to stay alive every step of the way. Read more here.
More top Eat. Watch. Do. stories:
President Donald Trump backs Elon Musk as he roils the federal workforce with demands and threats
President Donald Trump voiced support for Elon Musk's demand that federal employees explain their recent accomplishments by the end of today or risk getting fired.
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What to know about Trump's effort to oust Fed Chair Powell
US President Donald Trump this week escalated attacks on central bank chair Jerome Powell, suggesting he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve's headquarters. The US leader's focus on the Fed's $2.5 billion renovation project comes after months of growing criticism targeting the independent central bank chief -- as the bank held interest rates steady despite Trump's insistence that it should slash them. After calling Powell a "numbskull" and "moron" for the Fed's policy decisions, Trump on Tuesday suggested the renovation costs could be a potential avenue for his removal. Here is what you need to know about the latest developments: - Can Trump oust Powell? - Should Trump make the unprecedented move of firing Powell, a sitting Fed chair, he would need to identify a reason for removal recognized by law -- and produce evidence to back up his case, experts said. Some statutes note that an official can be removed for neglect of duty or malfeasance, and other causes include "inefficiency," said Columbia Law School associate professor Lev Menand. But the president would have to show that there was mismanagement on Powell's part. "Right now, there's no evidence that the White House has released publicly or pointed to, that there was any sign of mismanagement in connection with this renovation," Menand told AFP. While costs for the Fed's project have gone up, Menand noted that construction materials have become more expensive in the post-pandemic economy. And renovating historic buildings in the nation's capital is a pricey affair. "Based on publicly available information, there's just no grounds for removing Powell 'for cause'," Menand said. "For cause" could be interpreted to mean wrongdoing. If the president proceeded, Powell would have to be notified of the charges and be allowed to contest them, he added. The Fed chair can remain in place through this time. - What are the accusations? - Trump for months has lashed out at the Fed for holding interest rates steady since the start of the year, while repeatedly pushing for lower borrowing costs. He charges that the central bank could help save the country debt-servicing costs by cutting rates from the current range, which is between 4.25 percent and 4.50 percent. The president also pointed to relatively tame inflation figures to make the case for reducing rates. But the Trump administration has recently honed in on the Fed's building works as a possible reason to drive out Powell. On Wednesday, the president said: "It's possible there's fraud involved with the $2.5, $2.7 billion renovation." In response to White House budget chief Russell Vought's concerns on the renovations, Powell said in a letter Thursday that he has asked the Fed's independent inspector general to hold a fresh review of the project. He stressed that there were no VIP dining rooms or private elevators being constructed, while adding that both buildings involved "were in need of significant structural repairs." - What are the consequences? - "Equities would likely sell off on impact, on a risk-off flight to safety trade," said Padhraic Garvey, regional head of research for the Americas at financial institution ING. "After all, this would be an effective forced exit of a reputable Fed chair by the US president, an unprecedented event for the market to get its head around," he told AFP. But equities could quickly reassess and rally on the theory that "the Fed will be cutting deep into rates," boosting the economy, he added. It is unclear however that Trump would easily achieve a goal of lowering interest rates quickly even if he ousted Powell, given that the Fed's rate-setting committee comprises of 12 voting members. Garvey expects that other committee members would continue basing policy decisions off their individual assessments of the economy -- balancing inflation and labor market risks. The dollar could also come under pressure, he noted. "For now Fed credibility is intact, and will remain so for at least as long as Chair Powell remains in place," he said. bys/aks Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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The Trump Trade has changed. Here are the 6 big themes for investors to watch.
The market playbook for Donald Trump's presidency has shifted in the months since his inauguration. Analysts at NDR updated their Trump Trade index, a group of investments tied to Trump's agenda. Strategists identified six themes for investors to monitor. Investors in the early days of Donald Trump's second term thought they had identified the clearest winners from the president's agenda, but more than halfway through his first year in office, the playbook has shifted. Analysts at Ned Davis Research this week said they recently revised their Trump Trade Index — an index of investment themes they believe will benefit from Trump's agenda. The firm's original Trump Trade Index included investment themes like space and reshoring, as well as bitcoin and Trump Media & Technology Group, the parent company of Trump's social media network. "When we created our initial Trump Trade index prior to the 2024 election, we had only a general idea of Trump's agenda and key themes impacted," strategists wrote in a report on Wednesday. "However, after reviewing 170 executive orders, the One Big Beautiful Bill Act (OBBBA), and an ever-changing foray into tariffs, we have a much better indication of agenda priorities." Markets have been surprised by how Trump's policy agenda has shifted so far this year. US stocks soared after Trump secured his second term in office, before embarking on a wild roller coaster ride as Trump announced his worldwide tariff package and negotiations dragged into this summer. Here's an update on what investment themes investors should add to the Trump-era playbook. Defense Thesis: Trump signed a slew of executive orders supporting aerospace innovation and the drone, cybersecurity, and shipbuilding industries in the US. The GOP tax and spending bill has also earmarked around $150 billion for overall defense spending, $29 billion to shipbuilding, and $170 billion for border enforcement. The bill also has a $24 billion budget to help build the Golden Dome, an ambitious defense system that aims to put American anti-missile weapons into space. Factors like China's military advancement and the ongoing conflict between Russia and Ukraine also raise the risk that the US could become more involved in geopolitical conflict, strategists suggested. "While several themes look overbought, some are sure to have staying power over Trump's term. Unfortunately, we believe Defense could have staying power," the report said. Relevant ETFs: SHLD Metals & Mining Thesis: Trump has also signed executive orders supporting the copper and rare minerals industry in the US. Meanwhile, the Big Beautiful bill includes tax incentives that support energy exploration in the US, which could also boost the metals and mining industries. The president has also proposed steep tariffs on key commodities, like steel, copper, and aluminum. The metals and mining theme was on display already in the last week, when the Department of Defense announced a large stake in rare earth miner MP Materials. The stock surged on the news that the Pentagon would become the company's largest shareholder as it tries to strengthen America's position in a critical supply chain. Relevant ETFs: XME, REMX Traditional, Nuclear, and Hydrogen Energy Thesis: Energy was a cornerstone of Trump's campaign, and the president quickly declared a National Energy Emergency at the start of his term. "While Biden's agenda promoted Clean Energy, Trump clearly favors Traditional Energy, evidenced by orders to tap Alaska resources, remove production barriers, and promote Coal," strategists wrote. Uranium and Hydrogen energy are also in focus, the strategists added, pointing to "massive datacenter electricity demands." Trump has also proposed various tariffs that could raise energy prices, like tariffs on Canadian and Venezuelan energy, a 7.5% tariff on Uranium, and a 10% tariff on hydrogen-related goods. Relevant ETFs: IEO, URA, HYDR Bitcoin & Digital Assets Thesis: Trump, who branded himself as the "crypto president" on the campaign trail, has made a series of pushes into digital assets this year. Early in his second term, he signed an executive order that aimed to support the US's dominance in digital finance, and another that established a strategic bitcoin reserve. Lawmakers are also set to pass a slew of new crypto-related legislation this week, like the Senate's landmark stablecoin bill, the CLARITY Act, and the Anti-CBDC Surveillance State Act. Relevant ETFs: IBIT, ARKF Artificial Intelligence Thesis: Trump's executive orders and a handful of provisions in the One Big Beautiful Bill Act are aimed at bolstering AI development in the US, The GOP tax and spending bill includes a $250 million budget for AI-driven cyber defense, as well as tax incentives for chipmakers to build their tech in the US. Trump also announced a $500 billion AI infrastructure project in January, which involves Softbank, OpenAI, and Oracle building more data centers in the US. This week, Trump announced another $90 billion in AI and energy investments at an event in Pennsylvania. Relevant ETFs: MAGS Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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The Trump Trade has changed. Here are the 6 big themes for investors to watch.
The market playbook for Donald Trump's presidency has shifted in the months since his inauguration. Analysts at NDR updated their Trump Trade index, a group of investments tied to Trump's agenda. Strategists identified six themes for investors to monitor. Investors in the early days of Donald Trump's second term thought they had identified the clearest winners from the president's agenda, but more than halfway through his first year in office, the playbook has shifted. Analysts at Ned Davis Research this week said they recently revised their Trump Trade Index — an index of investment themes they believe will benefit from Trump's agenda. The firm's original Trump Trade Index included investment themes like space and reshoring, as well as bitcoin and Trump Media & Technology Group, the parent company of Trump's social media network. "When we created our initial Trump Trade index prior to the 2024 election, we had only a general idea of Trump's agenda and key themes impacted," strategists wrote in a report on Wednesday. "However, after reviewing 170 executive orders, the One Big Beautiful Bill Act (OBBBA), and an ever-changing foray into tariffs, we have a much better indication of agenda priorities." Markets have been surprised by how Trump's policy agenda has shifted so far this year. US stocks soared after Trump secured his second term in office, before embarking on a wild roller coaster ride as Trump announced his worldwide tariff package and negotiations dragged into this summer. Here's an update on what investment themes investors should add to the Trump-era playbook. Defense Thesis: Trump signed a slew of executive orders supporting aerospace innovation and the drone, cybersecurity, and shipbuilding industries in the US. The GOP tax and spending bill has also earmarked around $150 billion for overall defense spending, $29 billion to shipbuilding, and $170 billion for border enforcement. The bill also has a $24 billion budget to help build the Golden Dome, an ambitious defense system that aims to put American anti-missile weapons into space. Factors like China's military advancement and the ongoing conflict between Russia and Ukraine also raise the risk that the US could become more involved in geopolitical conflict, strategists suggested. "While several themes look overbought, some are sure to have staying power over Trump's term. Unfortunately, we believe Defense could have staying power," the report said. Relevant ETFs: SHLD Metals & Mining Thesis: Trump has also signed executive orders supporting the copper and rare minerals industry in the US. Meanwhile, the Big Beautiful bill includes tax incentives that support energy exploration in the US, which could also boost the metals and mining industries. The president has also proposed steep tariffs on key commodities, like steel, copper, and aluminum. The metals and mining theme was on display already in the last week, when the Department of Defense announced a large stake in rare earth miner MP Materials. The stock surged on the news that the Pentagon would become the company's largest shareholder as it tries to strengthen America's position in a critical supply chain. Relevant ETFs: XME, REMX Traditional, Nuclear, and Hydrogen Energy Thesis: Energy was a cornerstone of Trump's campaign, and the president quickly declared a National Energy Emergency at the start of his term. "While Biden's agenda promoted Clean Energy, Trump clearly favors Traditional Energy, evidenced by orders to tap Alaska resources, remove production barriers, and promote Coal," strategists wrote. Uranium and Hydrogen energy are also in focus, the strategists added, pointing to "massive datacenter electricity demands." Trump has also proposed various tariffs that could raise energy prices, like tariffs on Canadian and Venezuelan energy, a 7.5% tariff on Uranium, and a 10% tariff on hydrogen-related goods. Relevant ETFs: IEO, URA, HYDR Bitcoin & Digital Assets Thesis: Trump, who branded himself as the "crypto president" on the campaign trail, has made a series of pushes into digital assets this year. Early in his second term, he signed an executive order that aimed to support the US's dominance in digital finance, and another that established a strategic bitcoin reserve. Lawmakers are also set to pass a slew of new crypto-related legislation this week, like the Senate's landmark stablecoin bill, the CLARITY Act, and the Anti-CBDC Surveillance State Act. Relevant ETFs: IBIT, ARKF Artificial Intelligence Thesis: Trump's executive orders and a handful of provisions in the One Big Beautiful Bill Act are aimed at bolstering AI development in the US, The GOP tax and spending bill includes a $250 million budget for AI-driven cyber defense, as well as tax incentives for chipmakers to build their tech in the US. Trump also announced a $500 billion AI infrastructure project in January, which involves Softbank, OpenAI, and Oracle building more data centers in the US. This week, Trump announced another $90 billion in AI and energy investments at an event in Pennsylvania. Relevant ETFs: MAGS Read the original article on Business Insider
