The US departments of defense and education are next in line for budget reviews, President Donald Trump has confirmed Elon Musk, as head of the new Department of Government Efficiency (DOGE), has been tasked with […]
Weekly Daily Standup Top Stories Musk gains ‘full access’ to US Treasury system February 2, 2025 Mariel Alumit Elon Musk’s Department of Government Efficiency (DOGE) has been granted full access to the US Treasury Department’s payment […]
The Fed, after complaining about missing immigrants in labor market data, now has further support for its pivot to wait-and-see. By Wolf Richter for WOLF STREET. We’ve been discussing this issue – and its impact on employment data […]
Manufacturing was the main driver of the country’s economic growth, according to the prime minister Russia’s GDP reached a record high last year, according to Prime Minister Mikhail Mishustin. The prime minister made the […]
Europe’s largest economy would likely suffer another two years of recession if US President Donald Trump were to impose the pending tariffs on Mexico and Canada, German economists found – before retaliation is factored in. […]
By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet declined by $42 billion in January, to $6.81 trillion, the lowest since May 2020, according to the Fed’s weekly balance sheet today. During May 2020, […]
A boost in production and sales of electric cars has injected cautious optimism into Germany’s all-important automotive industry, following a years-long slump typified by factory closures and job losses. Production volumes at German car […]
The White House has canceled government subscriptions to Politico amid state funding accusations Billions of dollars have been stolen at USAID and used to pay for positive media coverage of Democrats, US President Donald […]
QT has drained ON RRPs to their normal level of near-zero, while QT hasn’t even touched reserve balances yet. By Wolf Richter for WOLF STREET. Balances at the Fed’s facility for Overnight Reverse Repurchase agreements (ON RRPs) have […]
Experts warn that dissolving the agency would be a gift to U.S. adversaries. The U.S. Agency for International Development (USAID) has been immobilized in recent days as part of the Trump administration’s tumultuous effort to […]
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