Lawrence Summers, the former Treasury secretary, said the Trump administration's move to shrink the size of the Internal Revenue Service and a series of other policy changes could cost the federal government as much as $1 trillion in revenue over a decade by incentivizing taxpayers to reduce tax compliance. The cuts put at risk "the very foundation of a tax system that is built on voluntary compliance," Mr. Summers said in an interview.
Goldman Sachs economists are forecasting that fourth-quarter U.S. GDP will grow by just 0.5 percent from the fourth quarter of 2024 as tariffs and policy uncertainty weigh on the economy. Currently, business and consumer surveys are pointing to a slowdown, but official economic data have yet to show that sign. They reasoned that economic indicators could start to show a clearer sign of recession in the middle or late summer. "The evolution of the data in recent weeks is consistent with previous'...
According to the Washington Post, Ukrainian and European officials will hold talks in London on Wednesday, and several sources said that as part of a peace deal, the United States will offer to recognize Crimea as Russian territory and freeze the front lines of the conflict. Ukrainian allies hope to win security guarantees and reconstruction projects for Ukraine in exchange for any such territorial concessions. According to three sources...
On April 23rd, according to the Washington Post, Ukrainian and European officials will hold talks in London on Wednesday. As part of a peace deal, the United States will offer to recognize Crimea as Russian territory and freeze the front lines of the conflict, several sources said. Ukrainian allies want to win security guarantees and reconstruction projects for Ukraine in exchange for any such territorial concessions. Among the proposals the United States made to Ukraine in Paris last week, acco...
According to the Financial Times, Russian President Vladimir Putin has proposed halting the offensive against Ukraine on the current front lines as part of efforts to reach a peace deal with Trump, according to people familiar with the matter. Three of the people said Putin earlier this month...
Leavitt, the White House press secretary, said Trump believed the Fed's policy actions were politically motivated and that Trump had the right to express his dissatisfaction with the Fed. Trump wants interest rates to fall and Trump wants the dollar to remain the world's reserve currency.
On April 23, according to the British Financial Times, people familiar with the matter said that Russian President Vladimir Putin has proposed to stop the offensive against Ukraine on the current front lines as part of efforts to reach a peace deal with Trump. Putin told Trump's envoy earlier this month that Moscow could give up its claim to sovereignty over four parts of Ukraine that are still under Kiev's control, three of the people said. The United States has since proposed possible solution...
On April 23rd, according to the Financial Times, as part of efforts to reach a peace deal with US President Donald Trump, Russian President Vladimir Putin has proposed to suspend the offensive against Ukraine in the current frontline areas.