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ICE Arrests Migrant for Drunk Driving. He Has No Car and Can't Drive

ICE Arrests Migrant for Drunk Driving. He Has No Car and Can't Drive

Newsweek03-06-2025
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Agents with Immigration and Customs Enforcement reportedly detained an undocumented man as they searched for a drunk driver, but his family has said he does not own a car and doesn't know how to drive one.
The masked agents grabbed the man—a landscape gardener whose name is not known—from his work site on Maple Avenue in Great Barrington, Massachusetts, on May 30, the Berkshire Edge reported.
Newsweek has contacted the Department of Homeland Security for comment via email.
Why It Matters
Since taking office in January, President Donald Trump's administration has deported thousands of people while acting on campaign promises to remove millions of migrants living in the country illegally.
Concerns have been raised amid the crackdown, with critics warning that the administration has not followed due process in some cases and may be ignoring court orders. The Trump administration says its efforts are necessary to keep Americans safe.
Last week, Stephen Miller, the White House deputy chief of staff, told Fox News that the administration was setting a goal of a minimum of 3,000 arrests by ICE each day and that the number could go higher.
Protesters demonstrating against Immigration and Customs Enforcement officers, who had arrested a Brazilian resident of their town earlier that week, in downtown Worcester, Massachusetts, on May 11.
Protesters demonstrating against Immigration and Customs Enforcement officers, who had arrested a Brazilian resident of their town earlier that week, in downtown Worcester, Massachusetts, on May 11.
Andrew Lichtenstein/Corbis via Getty Images
What To Know
Two business owners confronted the agents detaining the man, recording the arrest and repeatedly asking for identification.
In a statement to CNN, ICE said the agents in the video were federal law enforcement officers and that the man who was detained was an "illegally present Colombian alien who violated the terms of his release by failing to report to immigration authorities."
Linda Shafiroff and Sarah Stiner, co-owners of Creative Building Solutions on Maple Avenue, tried to intervene as the man was being detained, the Berkshire Edge reported.
While the detained man does not work for them, he is an employee of a landscaping company that maintains their property, according to the newspaper.
Stiner told the outlet that she noticed a blacked-out SUV in their private parking lot hours before the gardener arrived for work. She said that after the man arrived, other cars with additional agents pulled up.
Shafiroff arrived when the arrest was already underway and filmed as she confronted the agents.
"We don't need to give you IDs," one agent said in the video.
"So how do we know you're federal?" she replied.
The agent then told her to "call the locals."
In the video, she said: "This gentleman can barely get in the car. He's being forced in and his hands jammed behind his back, and all they say is they're looking for someone who is a drunk driver."
According to the Berkshire Edge, a relative of the man said he did not know how to drive or own a car, and his only method of transportation was his bicycle.
ICE said in a news release on Monday that the agency and its federal law enforcement partners apprehended almost 1,500 people in May, including 790 who had been "charged with or convicted of crimes in the United States or abroad." Names and details of the charges were not provided.
Among those detained is an 18-year-old high school student that the Department of Homeland Security said agents "never intended to apprehend." They arrested him after he was "found to be in the United States illegally."
What People Are Saying
Linda Shafiroff told the Berkshire Edge: "The intimidation level was what was most disturbing. They were covered up in masks, hoods, and vests, and no IDs. They did not behave like police officers. Police officers are respectful. They know people have rights. These guys were like thugs."
Patricia Hyde, the acting field office director for ICE Enforcement and Removal Operations Boston, said in a statement on Monday: "The Commonwealth of Massachusetts is a safer place today thanks to the hard work and determination of the men and women of ICE and our federal partners."
She added: "Make no mistake: Every person that we arrested was breaking our immigration laws, but most of these individuals had significant criminality. They are criminal offenders who victimized innocent people and traumatized entire communities—murderers, rapists, drug traffickers, child sex predators and members of violent transnational criminal gangs."
What Happens Next
It remains to be seen whether more details of the case will emerge. The family of the detained man told the Berkshire Edge that they had not heard from him.
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Stock market today: Dow jumps 400 points, S&P 500, Nasdaq rally in bounce back from Friday sell-off
Stock market today: Dow jumps 400 points, S&P 500, Nasdaq rally in bounce back from Friday sell-off

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Stock market today: Dow jumps 400 points, S&P 500, Nasdaq rally in bounce back from Friday sell-off

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Trump's battle with the Fed and Chair Jerome Powell has also remained in focus. Traders tempered expectations around interest rate policy following the bank's decision last week to leave rates unchanged for a fifth consecutive meeting. But after the weak jobs data, almost 90% of bets are on a cut in September. At the same time, investors are examining fallout from Trump's implementation of tariffs. The updated tariffs set to come into full effect this week range from 10% to 41% on a wide range of trading partners and raise concerns about rising costs amid broader inflationary pressures. On Monday Trump said he would be "substantially raising" tariffs on India as he presses to stop purchasing Russian oil, effectively accusing the nation of subsidizing Russia's war in Ukraine. Meanwhile, Tesla (TSLA) stock edged higher after reports emerged that the company had granted CEO Elon Musk 96 million shares worth about $29 billion. 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In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. 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Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. 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Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Amazon's slowing cloud growth could continue to drag on its stock Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Tariffs not expected to cause recession or end bull market, says UBS As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Tesla shares jump 3% as board approves $30 billion alternative pay deal for Musk Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Stocks open higher following market sell-off US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. Trending tickers in premarket trading: Opendoor, Palantir, Tesla, Joby, Tyson Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

'Concerning news': Wall Street worries Trump's BLS firing could shake market confidence
'Concerning news': Wall Street worries Trump's BLS firing could shake market confidence

Yahoo

time3 minutes ago

  • Yahoo

'Concerning news': Wall Street worries Trump's BLS firing could shake market confidence

President Trump's firing of Bureau of Labor Statistics (BLS) commissioner Erika McEntarfer has Wall Street worried about the future path of economic data. In a note to clients titled "Concerning news from the BLS," JPMorgan chief US economist Michael Feroli wrote that the removal of the agency's commissioner creates "risks to the conduct of monetary policy, to financial stability, and to the economic outlook." "The risk of politicizing the data collection process should not be overlooked," Feroli wrote. "To borrow from the soft-landing analogy, having a flawed instrument panel can be just as dangerous as having an obediently partisan pilot." The firing came just hours after the BLS released the July jobs report, which showed more than a quarter million fewer jobs were added to the economy in May and June than initially thought. In a Truth Social post on Friday, Trump wrote that "we need accurate numbers" and the numbers "must be fair and accurate." On Monday morning, Trump continued posting on social media about the matter, writing, "last weeks Job's Report was RIGGED." Trump has maintained a stance that the revisions done prior to the 2024 presidential election were made to make the US economy look better under then-President Biden. While last Friday's jobs revisions were "larger than normal," per the BLS, the act of revising data once more information collected is a standard operating procedure for the agency. For Wall Street, the chief concern with Trump's rhetoric is his calling into question the accuracy of key economic data that typically drives the Federal Reserve's monetary policy decision making and is closely tracked by investors for a read on the health of the US economy. "The US public statistics represent the gold standard," Renaissance Macro head of economics Neil Dutta wrote in a note to clients after the firing on Aug. 1. "Calling them into question just because they tell you something you don't like undercuts market confidence." Barclays chairman of research Ajay Rajadhyaksha pointed out in a note to clients on Monday that a US president hasn't attempted to fire an active head of the BLS since President Nixon was in office 50 years ago. Recent examples of statisticians being fired because the heads of government disliked the data include cases in Greece and Argentina. "This move could lead to markets questioning data integrity, especially for releases that surprise investors," Rajadhyaksha wrote. Trump's firing of McEntarfer at the BLS came the same day Federal Reserve governor Adriana Kugler said she will resign from the central bank's Board of Governors, effective Aug. 8. Trump is expected to appoint a new Fed official and a BLS commissioner in the coming days. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. 登入存取你的投資組合

Emerging Markets Trim Gains as US Threatens to Hike India Tariff
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Emerging Markets Trim Gains as US Threatens to Hike India Tariff

(Bloomberg) -- Currencies and stocks in developing economies trimmed gains after US President Donald Trump threatened to hike tariffs on India even above the punitive rate announced last week. Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole PATH Train Service Suspended After Fire at Jersey City Station NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance MSCI's EM currency gauge came off session highs to rise 0.4%, while the stock index pared gains to 0.9%. Trump's latest tariff threat is denting risk sentiment on a positive day for emerging markets. The currency gauge is still set for its biggest gain in over a month and equities snapped a two-day losing streak as traders bet on increasing odds of a Federal Reserve rate cut in the coming months. The Bloomberg Dollar Spot Index edged lower. 'For those who thought that Trump might reconsider his tariff strategy once the negative impacts on the US economy became visible, are now being proved wrong,' Thu Lan Nguyen, the head of FX and commodity research at Commerzbank AG, said in a note. 'Instead of facing reality, the US president apparently prefers sweeping the problem under the rug.' The $10-billion iShares MSCI India ETF fell to a session low, dropping as much as 0.6% after Trump said he would be 'substantially raising' the tariff on Indian exports to the US because of New Delhi's purchases of Russian oil. Trump's post didn't specify how much he would raise the levy by. He announced a 25% rate on Indian exports last week. Fed Moves Trump said he'll announce a new Fed governor in the coming days in a move that may bring in a policymaker more closely aligned with his preference for lower rates. That space opened up after Adriana Kugler announced Friday that she would vacate her board of governors seat, which wasn't due to expire until January. Trump will also announce the replacement for the Bureau of Labor Statistics' head in a move that is seen as potentially undermining the credibility of the institution's data. The Philippine peso and Thai baht were the best performers among peers with gains of about 1% against the dollar. Most other Asian FX markets also gained versus the greenback, with Goldman Sachs strategists expecting the South Korean won and Taiwanese dollar to outperform other EM currencies in the region. 'If the Fed resumes rate cuts in September and signals a more dovish policy stance, it could potentially offer support to Asian currencies,' MUFG Bank's currency strategist Lloyd Chan wrote in a note. Risks for regional FX might come from the implementation of higher US tariffs that could weigh on exports, he added. Colombia's dollar bonds were among the best performers in emerging markets Monday after the government announced it would buy back some of its outstanding global notes with cash in an effort to revamp its financing strategy amid concerns over its widening budget deficit. AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay How Podcast-Obsessed Tech Investors Made a New Media Industry Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P. 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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