Powell Defends Fed Pandemic Actions At Princeton
Federal Reserve Chair Jerome Powell defended the central bank's COVID response in a Princeton speech praising government employees and U S universities amid Trump criticism. He cited rate cuts to near zero and vast asset purchases, saying economies faced a hard stop and the Fed acted as a first responder. Powell praised civil servants and highlighted universities as vital national assets.
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Musk Shifts Focus Back to Tesla SpaceX Mars Ambitions
Elon Musk signals a retreat from active politics after a year of heavy campaigning for Trump and broad corporate layoffs. He plans renewed emphasis on Tesla autonomy and SpaceX Starship tests, while facing regulatory scrutiny and worker discontent amid a rocky profits period.
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Senate push to pass Trump tax and immigration bill faces cuts
Senate leaders weigh changes as House Republicans push a tax and immigration package through. Rand Paul and Ron Johnson urge debt limits and spending reductions, while Thune signals a Senate imprint and Senate Republicans seek more savings before the July 4 deadline. Eric Schmitt calls for further cuts as Trump expects adjustments in the Senate version.
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