The IRS will cut about 6,700 jobs on Thursday, a person familiar with the matter said, in a restructuring that could strain the agency during the critical tax season. The cuts are all probation period employees who typically work at the agency for a year or two and enjoy fewer job protections than permanent employees. The IRS has about 17,000 probation period employees.
Federal Reserve Governor Barr said the central bank could take action if inflation falls faster than expected or if the labor market becomes weaker than expected.
"I acted in good faith, and the result was a blow," Millet, Argentina's president, said on television. "Did the country lose money? No. Did the Argentines lose money? Four or five at most. Absolutely...
US President Donald Trump has said he has decided to impose reciprocal tariffs and will consider taking action against countries that use VAT tax systems. Shipping goods through other countries to avoid tariffs will not be accepted. Trump said US Commerce Secretary Lutnik will develop reciprocal tariff plans. Trump expects some countries to reduce or end tariffs.
Scott Bescent, US Treasury secretary, said he would not criticise the Federal Reserve chairperson and said the Trump administration was not focused on whether the Fed would cut its benchmark policy rate. Mr. Bescent's comments were notable given Mr. Trump's frequent criticisms of Jerome Powell, the Fed chairperson, during his first term as president, when he regularly called for interest rate cuts and explored the possibility of "firing" Mr. Powell. "I'm not going to make any comments on monetar...
Federal Reserve Governor Paul Waller said he did not expect the dollar to lose its reserve currency status.
On January 24th, according to Reuters and Bloomberg, US President Trump said in an interview with Fox News Network broadcast on the evening of January 23 local time that he would rather not impose tariffs on China, while insisting that tariffs are a "great power". Reuters reported in December last year that the Federal Reserve Bank of New York also believes that the imposition of tariffs on China hurts US companies, and companies that have trade relations with China bear the brunt. At present, C...
After publicly expressing his desire for the United States to take back control of the Panama Canal and acquire Danish-controlled Greenland, US President-elect Donald Trump refused to rule out military or economic action on Monday. Asked at a press conference whether he would refrain from using military or economic coercion in Panama and Greenland, Trump said: "No, I can't assure you of either...
Russian companies have started using bitcoin and other digital currencies in Global Payments after legislative changes to allow them in response to Western sanctions, Russian Finance Minister Anton Siluanov said on Wednesday. This year, Russia allowed the use of cryptocurrencies in foreign trade and has taken steps to legalize the mining of cryptocurrencies, including bitcoin. Russia is one of the leading countries in the world for bitcoin mining. Siluanov said: "Such transactions...
Musk posted a picture on his social platform saying he liked the "WOULD" meme. Affected by this news, the meme coin of the same name rose for a short time. According to GMGN data, the eponymous meme coin created 123 days ago has risen by more than 400 times in a short time, and the current market value is 4.50 million US dollars. Remind users: Meme coin has no practical use case yet, and the price fluctuates greatly. Investment requires caution.
On November 20th, George Efstathopoulos, a fund manager at Fidelity International, said in his latest speech that he made a new bet on Chinese class A shares last week. Now the position of Chinese stocks has returned to the level of "3% - 3.5%". At present, Efstathopoulos manages assets of nearly 3 billion US dollars (about RMB 21.70 billion). Efstathopoulos said that he is optimistic that China's fiscal stimulus policy can support moderate economic growth, and domestic stocks are "more immune" ...
The Fed, Mr. Collins said, would not rule out easing in December. The economy is in very good shape. Modest easing is appropriate at the right time. There is no evidence of new price pressures. Tariffs could be a driver of inflation.
Federal Reserve Chairperson Jerome Powell: If asked to resign, I will not resign.
Federal Reserve Chairperson Jerome Powell has said he will not step down as chairperson of the Federal Reserve even if Trump asks.