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Here’s what you need to know
It’s still time to rate and view. The Fed announces that it will continue to keep interest rates stable as inflation shows signs of cooling, but still Central Bank’s Goals.
Jerome alone. President Donald Trump is frustrated that Fed Chairman Jerome Powell has not succumbed to his long-term stressful movement. “I think he hates me.” Trump said.
The United States has a trust issue. Social Security Trust Funds may soon be in 2033 and will immediately cut benefits, endanger benefits Unless Congress intervenes.
Jet lag. Airlines are lowering ticket prices as travel from Europe to the United States is down, another rough sign of the U.S. travel industry Billions of dollars in deficit.
A rough awakening? As conflict between Israel and Iran worsens, gasoline prices in the United States gradually rise, but supply disruptions are likely to be Send costs soar.
The brain on the blockchain. Sam Altman claims Meta Mark Zuckerberg’s AI adventure.
Outlook: Not good. Microsoft plans to cut thousands of jobs (mainly sales) to cut costs as companies continue to spend A large amount of investment in artificial intelligence.
Supply Chain
Donald Trump has never been shy to call his political rivals “communist,” “Marxist,” or – in the case of Kamala Harris, “Comrade Kamala.” But in the office, Trump is less dominant than Adam Smith, and more like a populist in capitalist costumes.
According to the president, he set the price. “I’m this huge store,” he told Time, comparing the American economy to a retail empire he controlled. “I own the store, I set the price.” This philosophy is more than a metaphor: Trump puts huge pressure on companies like Apple and Walmart to not transfer tariff fees to consumers, threaten automakers to offshore transportation, and hand it over to the farmers’ government to bail out his trade war. He even hung execution orders to control Big Pharma’s drug prices – a move that could make Bernie Sanders blush.
But piècederésistance? Last week, Trump launched a permanent “gold share” of U.S. steel, part of its sale to Japan’s Japanese steel. This unprecedented move has led Trump to veto power over decisions on major business — how much steel has been produced for a long time after the deal ended, whether to stay in the United States, and so on. “We have a gold stock…I control it.” He brags.
In the United States, this level of control over private companies production, recruitment and future government control is rare in the United States and is often not advocated by a self-proclaimed capitalist crusader. “It’s a very meticulous way to nationalize American steel,” said Douglas Holtz-Eakin of the American Action Forum. “It’s like Peronista from Argentina.”
Trump’s economic theory is not what Karl Marx imagines, it is not socialism, but it is a brand of economic interventionism that is more common in places like China and Brazil, with the government having a “gold share” in its strategic sectors. Although traditional socialism focuses on reallocating wealth decline, Trump’s policies (from tariffs to tax cuts) seem to have the opposite effect. Quartz’s Joseph Zeballos-Roig has more movements in Trump’s invisible hands – now there are more micromanagements.
Get rich or buy
Congratulations to the 2024 class: According to the just-issued UBS Global Wealth Report, more than 1,000 Americans became millionaires every day last year. Global wealth grew 4.6% overall, due to record stock markets and growing asset prices, but North America has done heavy work.
In the United States alone, household wealth rose 11%, while S&P and Nasdaq rally grew by 25%, which puts shame in 2021.
The fastest growing queue? “Millionaire Every Day” or Emillis – UBS’s shorthand, for those with $100,000-5 million in assets. There are now 52 million worldwide, quadrupled since 2000 and have a $1007 trillion collective. That’s almost as much as the entire Ultra-Rich club (a club over $5 million), which together hold $119 trillion.
Even for billionaires clubs, UBS has less than 3,000 worldwide. But the real money movement is coming. The long-standing “huge wealth transfer” (about $83 trillion in assets is expected to change hands in the next two decades) – has already begun, which is likely to change financial power dynamics in major ways. An early winner: She will inherit women at a higher rate due to longevity and two-way inheritance (from spouse and parents).
This is another reminder that income does not equal wealth. In fact, many countries with higher average wages rank much lower wealth due to limited asset accumulation. The report shows that the salary for building wealth is no longer a salary, but more about what you inherited or the early stages of the apple you purchased. Catherine Baab of Quartz has more affluence and is more common in terms of the rich.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
