Latest news with #nationalDebt
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Firing Powell Would Shatter the Economy's Inflation Defenses
The U.S. has endured a series of inflationary shocks in the past few years: pandemic disruptions, massive fiscal stimulus, Russia's invasion of Ukraine, an immigration clampdown, tariffs and soaring projections of national debt. Yet throughout, investors have expected that in a few years' time inflation will be around 2%. The reason: They instinctively assume that no matter the shock, the Federal Reserve is there to keep inflation low, like the brakes on a car.
Fox News
12-07-2025
- Business
- Fox News
Extra: DOGE and the Challenges of Actually Cutting the Deficit
Elon Musk's embrace of President Trump and his campaign marked a pivotal moment in the 2024 presidential election. Musk was eventually appointed to head the newly established Department of Government Efficiency (DOGE), where he was tasked with cutting federal spending and reducing the national debt. DOGE moved quickly and decisively, triggering lawsuits and further enraging Trump's critics. Although Musk has since left the Trump administration and experienced a very public fallout with President Trump, DOGE continues to operate and make an impact. Matthew Continetti, Director of Domestic Policy Studies at the American Enterprise Institute, joined FOX News Rundown host Jessica Rosenthal to discuss DOGE, highlighting where it was effective in cutting waste, fraud, and abuse, and where it fell short of the expectations set by Musk and the administration. Continetti, who is featured in FOX Nation's new documentary 'DOGE vs. DC,' also weighs in on the public spat between Musk and the President, as well as the challenges politicians face when addressing America's debt seriously. We often have to cut interviews short during the week, but we thought you might like to hear the full interview. Today on Fox News Rundown Extra, we will share our entire interview with AEI's Matthew Continetti on the legacy of DOGE. Learn more about your ad choices. Visit
RNZ News
09-07-2025
- Business
- RNZ News
UK: Macron meets the King
UK correspondent Hugo Gye talks about the pomp and ceremony of the French President Emmanuel Macron's state visit, where he used a speech to push for a more aggressive distancing of Europe from the US. A new report by the Office for Budget Responsibility finds the outlook dire for British finances, forecasting national debt to grow to 270 percent of GDP by the 2070s if nothing is changed. And Wimbledon is drawing to an end, but not before temperatures are set to hit the 30s again. Hugo Gye is Political Editor of The i Paper
Bloomberg
09-07-2025
- Business
- Bloomberg
Why Elon Musk's Third Party Plans Face Big Hurdles
Elon Musk, the single biggest Republican donor in the 2024 elections, says he wants to create a new political party to lower the US national debt, which currently stands at $37 trillion. After spending more than $290 million in 2024 to help elect President Donald Trump and secure a Republican majority in Congress, Musk very publicly broke with Trump and his party over their 'One Big Beautiful Bill,' which the Committee for a Responsible Federal Budget warns could boost the debt by as much as $5 trillion over a decade.
Washington Post
09-07-2025
- Business
- Washington Post
The real reason Trump wants to fire the Fed chair
Lael Brainard, a former director of the National Economic Council and vice chair of the Federal Reserve, is a distinguished fellow at Georgetown University's Psaros Center for Financial Markets and Policy and a senior fellow at Harvard Kennedy School's Mossavar-Rahmani Center. President Donald Trump has said the quiet part out loud. His threats to terminate Federal Reserve Chair Jerome H. Powell if Powell doesn't cut interest rates are motivated by one simple desire: to make it cheaper for the administration to add about $4 trillion to the federal debt.
