Economy

The White House is circulating a bill that would ban institutional investors from purchasing single-family homes, targeting Wall Street firms that have bought up hundreds of thousands of properties and driven up housing costs for ordinary Americans. The proposal addresses a bipartisan concern as homeownership becomes increasingly out of reach for young families.

Governor Mike Dunleavy hailed Interior Secretary Doug Burgum's decision to open over two million acres of Alaska land for oil, gas, and critical mineral development, calling it 'a milestone for Alaska's self-determination.' The move revokes decades-old Public Land Orders, unlocking resource-rich territory that state leaders argue will boost domestic energy production and reduce dependence on foreign supply chains.

The Labor Department has deployed a specialized 'strike team' to California to investigate alleged unemployment fraud and $21 billion in improper payments during the pandemic. The operation signals an aggressive federal push to recover taxpayer funds lost to waste and criminal exploitation of emergency relief programs.

A YouGov survey finds 60% of Americans say the Supreme Court was right to block Trump's emergency tariffs, exposing sharp divisions among Republicans. While Trump vows to press ahead with a 15% global levy under alternative legal authorities, vulnerable GOP incumbents face growing pressure from voters uneasy about rising prices ahead of the midterm elections.

Wall Street experienced a wild session Friday as the Supreme Court's tariff ruling sent markets on a roller coaster. The NASDAQ, Dow, and S&P 500 initially rallied after the ruling before retreating on weak GDP data, then recovered to close in the green. The volatile trading day underscored the enormous economic stakes of the tariff battle.

President Trump unleashed on his own Supreme Court nominees — Amy Coney Barrett and Neil Gorsuch — after they joined the majority in striking down his sweeping tariff agenda. The two justices sided with the court's three liberal members and Chief Justice Roberts in the landmark 6-3 decision, drawing the president's fury as he vowed to rebuild his trade regime using alternative legal authorities.

President Trump announced $10 million in economic assistance to East Palestine, Ohio, as the community continues its recovery from the catastrophic 2023 train derailment and chemical spill. Trump vowed to 'never forget' the affected Americans and criticized the previous administration's response to the disaster.

The Supreme Court struck down President Trump's sweeping 'Liberation Day' tariffs in a 6-3 decision, ruling he overstepped his authority under the International Emergency Economic Powers Act. The ruling invalidates the 10% baseline tariff on all trading partners and higher reciprocal tariffs on dozens of countries, putting more than $175 billion in collected revenue in question. Trump called the decision 'deeply disappointing' but immediately announced plans to impose new tariffs through alternative legal authorities. Markets seesawed on the news as trade partners worldwide responded with cautious optimism.

The January jobs report exceeded expectations with 130,000 new payrolls added and unemployment dropping to 4.3%, signaling continued economic strength. The data fuels debate over whether Trump's economic policies are driving the gains.

The White House has begun circulating draft legislation to ban institutional investors like Blackstone from purchasing single-family homes, hoping Congress will include it in a larger bipartisan housing bill. The effort to share legislative text on Capitol Hill signals a concrete policy move beyond rhetoric on housing affordability — an issue that has emerged as a key midterm concern.

The Florida State House has passed a constitutional amendment that would phase out all non-school property taxes for Florida homeowners. The measure now heads to the Senate in what could become one of the most significant tax reform proposals in state history, potentially reshaping how Florida funds local government services.

In a historic shift, Amazon has overtaken Walmart as the world's largest company by annual revenue, driven largely by its lucrative cloud-computing arm AWS. The milestone marks the culmination of a slow-motion race between two retail behemoths, with Amazon's diversified tech business model ultimately giving it the edge over Walmart's traditional brick-and-mortar dominance.

Skyrocketing electricity prices are becoming a pivotal issue for the November midterms as both parties vie to claim the energy affordability mantle. Bureau of Labor Statistics data shows energy prices have risen during Trump's first year, creating an opening for Democrats while Republicans blame legacy policies.

Nuclear energy is experiencing an unlikely renaissance, now championed by liberal Democrats and environmentalists who led anti-nuclear protests 50 years ago. Soaring power demand driven by AI, electrification, and manufacturing has made the carbon-free source newly attractive across the political spectrum.

New York City Mayor Zohran Mamdani's budget woes are mounting as the Washington Post mocks his threatened property tax hike and residents swarm a free grocery pop-up amid crushing food costs. Florida Governor DeSantis weighed in, contrasting NYC's fiscal struggles with Florida's lower-tax approach. The crisis highlights the real-world costs of progressive fiscal policy.

A new poll reveals a dramatic surge in anti-American sentiment among Canadians, driven by escalating trade tensions, tariff threats, and concerns about national sovereignty. The shift represents one of the sharpest declines in cross-border goodwill in decades.

Thirteen states that did not support Trump in the last election are suing the administration over cancellation of billions in federal climate funding for green projects. The lawsuit alleges the moves violated Congress's spending authority and disproportionately targeted Democrat-leaning states.

President Trump is asking the federal government for billions of dollars in damages over leaked tax information, putting his own Justice Department on the spot and creating an unprecedented ethical situation where a sitting president sues the government he leads.

A sweeping survey of thousands of CEOs reveals that despite massive investment and hype, artificial intelligence has so far had no measurable impact on their companies' employment levels or productivity—a sobering reality check for the AI boom.

Data-mining giant Palantir Technologies announced it will move its headquarters from Denver to Miami after months of anti-ICE protests and vandalism at its Colorado offices, joining a growing wave of tech firms relocating from progressive cities to business-friendlier environments.

Five years after selling all of Berkshire Hathaway's newspaper holdings and predicting endless declines for the industry, Warren Buffett disclosed a $350 million investment in the New York Times, signaling a dramatic reversal in his view of premium media properties.

Japan will invest $36 billion in US natural gas, oil, and critical mineral projects as part of a broader $550 billion investment deal announced by President Trump. The agreement represents a major energy trade commitment between the two allies.

Goldman Sachs will no longer consider race, sex, and other DEI factors when selecting board members, scrapping diversity metrics after an agreement with the conservative National Legal and Policy Center. The move continues a broader corporate retreat from DEI programs under legal pressure.

EPA Administrator Lee Zeldin and President Trump finalized a rule rescinding the 2009 Endangerment Finding, eliminating all federal greenhouse gas emission standards for motor vehicles and engines. The White House describes it as the single largest deregulatory action in US history.

Cuba is facing a deepening crisis as a US-imposed oil blockade creates crippling fuel shortages across the island. Drivers now face months-long waits to refuel their vehicles through a government rationing app. President Trump acknowledged talks are underway, describing Cuba as 'a failed nation' where even airplanes cannot get jet fuel to take off.

America's widespread dependence on GPS technology has created a critical vulnerability that could cost the U.S. economy an estimated $1.6 billion per day during a sustained outage. Security experts warn that the nation is dangerously unprepared for potential GPS attacks or disruptions. From navigation and shipping to financial transactions and power grids, countless essential systems rely on GPS timing and positioning. The vulnerability represents a significant national security concern as adversaries could exploit this technological dependency.

As artificial intelligence models advance at unprecedented speed, experts are sharply divided over their implications. Some warn of widespread job displacement and existential risks, while others dismiss such concerns as 'doomerism' and excessive fear-mongering. A single influential article has sparked intense debate about AI's trajectory and impact on society. The controversy highlights the challenge of predicting AI's real-world effects while balancing innovation with legitimate concerns about economic disruption and technological control.

The second round of February Social Security payments for retirees, capped at $5,108, will be issued on February 18 to those born between the 11th and 20th of the month. Additionally, March Supplemental Security Income payments worth up to $994 will go out early on February 27, since March 1 falls on a Sunday. The adjustments ensure recipients receive benefits on schedule despite weekend conflicts.

President Donald Trump's new critical minerals stockpile initiative aims to safeguard the U.S. supply chain from market disruptions and reduce reliance on China. China currently controls the global supply of critical minerals and has used this dominance as leverage against the United States and other countries. The administration's push seeks to bolster domestic supply chains for minerals essential to technology and defense industries.

Fortune 500 companies have shown a 65% drop in diversity, equity, and inclusion commitments as mounting legal challenges force a corporate retreat from controversial DEI programs. The shift represents a significant reversal from previous corporate diversity initiatives, driven by concerns over legal liability and changing cultural attitudes toward workplace diversity mandates.

The Department of Justice is reorganizing its antitrust division following the departure of Assistant Attorney General Gail Slater, as the Trump administration works to establish what officials call 'MAGA antitrust' policy. The approach is already taking shape at the Federal Trade Commission under Chairman Andrew Ferguson. The leadership shake-up reflects broader efforts to reorient federal antitrust enforcement in line with the administration's economic priorities, though specific policy details remain under development.

Senate Republicans are expressing concern that their party isn't doing enough to address affordability issues ahead of midterm elections. With only narrow majorities and fractious internal divisions, legislation has stalled and is expected to slow further. President Trump and congressional Republicans face mounting pressure as the fast-approaching midterms could reshape control of Congress. Some worry that failure to pass meaningful cost-reduction measures could hurt the party at the ballot box.

The Department of Homeland Security remains partially shut down as Senate Democrats, led by Chuck Schumer, demand ICE reforms following fatal Minnesota shootings. Republicans reject these changes, leaving DHS employees working without pay. Democrats are also attending the Munich Security Conference while the shutdown persists, drawing criticism from Republicans. The impasse threatens immigration enforcement oversight and air travel operations as midterm elections approach.

Senator Roger Wicker (R-MS) and other GOP leaders across the country are expressing opposition to ICE expanding detention centers for illegal immigrants in their states, breaking with Trump administration plans. Republicans cite infrastructural and economic concerns regarding the establishment of new Immigration and Customs Enforcement facilities, demonstrating bipartisan resistance to certain aspects of federal immigration enforcement expansion.

U.S. military forces boarded another oil tanker in the Indian Ocean after tracking the vessel from the Caribbean, according to Department of Defense reports. The tanker was attempting to evade the Trump administration's quarantine measures related to Venezuela sanctions enforcement. This marks the second such boarding operation as the U.S. intensifies efforts to intercept sanctioned oil shipments. Multiple international news outlets confirmed the operation reflects escalating enforcement of energy sanctions.

Federal Reserve Chair Jerome Powell plans to attend a Supreme Court oral argument in the Cook case, which could affect the independence of federal agency leadership. Meanwhile, Senator Thom Tillis has announced he will not support the nomination of Kevin Warsh as Powell's replacement until a Department of Justice investigation into Powell is concluded. The developments highlight ongoing tensions between the executive branch and the Federal Reserve's institutional independence.

The cryptocurrency industry is amassing a significant political war chest ahead of the midterm elections, with the Fairshake PAC accumulating more than $193 million in cash. The super PAC has already begun spending to influence races and support candidates favorable to crypto-friendly regulation. The effort represents one of the largest industry-backed political spending campaigns of the current election cycle.

President Trump ended trade negotiations with Canada after a dispute over tariff-related advertising by the Ontario provincial government. Ontario Premier Doug Ford has agreed to phase out the controversial ad campaign in an effort to restart talks. The breakdown highlights the fragility of US-Canada trade relations amid broader tariff tensions between the two allies.

Massachusetts' state auditor is taking legislative leaders to the state's highest court after uncovering an alleged $12 million fraud scheme, seeking to enforce a transparency law that voters overwhelmingly approved. The case pits the auditor's oversight authority against legislative leaders who have resisted disclosing records.