Stories tagged with Economy, curated through a biblical lens.
The Treasury Department said a new $1 coin featuring President Trump has entered production at the U.S. Mint, commemorating the nation's 250th anniversary. Set for release this fall, it would mark the first time a living president appears on U.S. currency.
China's economy grew more slowly than expected last quarter, undershooting Beijing's official target as weak domestic demand and the impact of the Iran war on oil prices offset otherwise strong export figures. The miss adds pressure on policymakers weighing new stimulus.
Whoever trusts in his riches will fall, but the righteous will flourish like a green leaf.
— Proverbs 11:28
Nations and empires alike learn that prosperity built on shifting sands cannot be commanded into being.
The federal government has already paid back tens of billions of dollars in tariffs it collected before the Supreme Court ruled the levies illegal, according to budget figures released Monday. The Guardian reports the refunds total roughly $81 billion, unwinding a central pillar of President Trump's economic agenda and returning duties to companies that imported goods hit by the tariffs. The scale of the paybacks underscores how much revenue the administration had staked on import taxes now deemed unlawful.
In an open letter with nearly 200 signatories, hundreds of economists and AI leaders warn that institutions 'must act now' to prepare for an 'unprecedented transformation' of the economy, cautioning that AI 'may become radically more powerful over the next 10 years' and could displace large numbers of workers.
In a scathing 56-page order, U.S. District Judge Kathleen Williams voided President Trump's $1.8 billion settlement with the IRS -- an agreement that had granted him immunity from tax audits -- finding the lawsuit was brought in bad faith for an 'improper purpose.' The judge said the administration had effectively tried to settle with itself in violation of constitutional restrictions on self-dealing, accused it of attempting to 'manipulate the judicial process,' and referred a Trump attorney for possible disciplinary action. The ruling also revived scrutiny of the abandoned $1.776 billion anti-weaponization fund.
A coalition of states led by California Attorney General Rob Bonta has sued to block Paramount's acquisition of Warner Bros. Discovery, a Hollywood mega-merger that would unite some of the nation's largest movie studios and TV newsrooms. The suit alleges the deal -- already approved by the Trump administration -- is illegal under antitrust law and would bring 'higher prices, lower quality, and less content for film and TV.' One official framed it as an attack on 'every sofa in the US.'
The race to build out artificial-intelligence infrastructure is emerging as a fresh inflation pressure, pushing up prices for laptops, memory and electricity as data centers gobble power and components. Analysts warn the surge is complicating the Federal Reserve's fight against rising costs, leaving American consumers to absorb another high-cost headache from the AI boom.
The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to want.
— Proverbs 21:5
A gold rush rewards speed, but Scripture commends the diligence that counts the cost. The AI buildout tests whether prosperity is being built or merely borrowed.
For the first time since 1995, the Bureau of Land Management is rewriting its public-lands grazing regulations, in a proposal critics say would reduce opportunities for public input. The overhaul could reshape how millions of acres of federal rangeland are managed.
The operator of the Keystone Pipeline system has agreed to pay a $26.9 million civil penalty under a proposed settlement with the U.S. government over a major oil spill in Kansas. The deal resolves federal claims tied to one of the pipeline's most damaging leaks.
A stalled bill to impose new sanctions on Russia cleared a key hurdle after the White House and a bipartisan coalition of senators reached agreement, paving the way for its formal introduction. Backers say the deal removes the main obstacle that had deadlocked the measure.
New York City has become the first U.S. city to ban deceptive subscription practices, adopting a 'click-to-cancel' rule from the Mamdani administration that bars companies from trapping customers in hard-to-cancel recurring charges and hidden junk fees. Officials say the landmark consumer-protection measure will make it as easy to cancel a subscription as it is to sign up, setting a template other cities may follow.
A sweeping housing affordability bill is set to become law at midnight even without President Trump's signature, after he declined to sign it while pressing Congress to first pass his voter ID legislation. Under the Constitution, a bill becomes law after ten days if the president neither signs nor vetoes it while Congress is in session. The measure lands amid mounting concern over housing costs and a national affordability crunch.
They will build houses and dwell in them; they will plant vineyards and eat their fruit.
— Isaiah 65:21
Scripture ties flourishing to the security of home and hearth. As lawmakers wrestle over affordability, the ancient hope of a people settled and provided for still speaks.
Apple announced it will significantly increase its spending with Broadcom to produce billions more chips in the United States. The move deepens Apple's domestic manufacturing commitments and adds momentum to a broader industry push to build more advanced semiconductor capacity on American soil.
President Trump opened the second day of the NATO summit in Ankara by moving to cut off trade with Spain, blasting Madrid as a 'terrible partner' over its lackluster defense spending and its refusal to cooperate on Iran. The abrupt announcement rattled allies and drew immediate questions about how far a U.S. president can go in severing trade with a NATO member.
The FCC is moving to end a Biden-era rule that required internet service providers to disclose all of their fees to consumers. Critics warn the rollback could make broadband pricing less transparent for households.
The Department of Government Efficiency has officially ceased operations, ending a high-profile effort to slash federal spending and staffing. Its shutdown closes a controversial chapter of the administration's cost-cutting agenda.
Cuba has suffered its third nationwide blackout of the year as the island's crumbling power grid buckles under a worsening energy crisis. Millions were left without electricity amid ongoing fuel shortages and economic strain.
President Trump announced that Walmart and several gas retailers will lower prices, including cutting beef by nearly 15%, framing the move as part of an administration push to ease grocery costs for the nation's 250th birthday. The rollout comes as cost-of-living concerns remain elevated for many American families.
Some Medicare beneficiaries who believed their prescription drug coverage was free are now losing those plans as insurers restructure their offerings. The changes are leaving older Americans scrambling to find affordable alternatives.
The Trump administration lifted tariffs on imported fertilizer that were imposed under President Biden, a move cheered by American farmers facing high input costs. Supporters argue the duties raised prices without protecting domestic producers.
Long a global hub for fake luxury goods, Vietnam is cracking down on its sprawling counterfeit black market. The effort targets a trade that has drawn international pressure.
President Trump plans to host an opening bell ceremony to celebrate the launch of 'Trump Accounts,' new tax-advantaged savings accounts for children. The Treasury is coordinating with the NYSE and Nasdaq.
On the anniversary of the sweeping GOP fiscal bill, Republicans touted its tax breaks while Democrats hammered its Medicaid cuts. The dueling messages preview a central 2026 campaign fight.
Seven OPEC+ countries agreed to modestly expand monthly oil production even as crude prices slide. The move signals the group's effort to defend market share amid softening demand.
America's first major offshore wind project is now generating power but is beset by technical and operational problems. The troubles raise questions about the cost and reliability of large-scale U.S. offshore wind development.
Medicare has begun offering GLP-1 weight-loss prescriptions for as little as $50, a shift that could dramatically expand access. Analysts say the change may reshape treatment of obesity and related conditions in the U.S. Costs and eligibility rules are still coming into focus.
Popular gadgets are poised to become significantly more expensive in another round of price increases, according to a new report. Analysts point to tariffs and supply pressures. Consumers may feel the pinch on phones, laptops and accessories.
Three nuclear energy startups have hit a significant technical milestone, drawing attention to a possible new wave of advanced reactors. Analysts debate how much the achievement will actually accelerate deployment given regulatory and cost hurdles. The news underscores growing investor interest in next-generation nuclear power.
A new law will protect children's lemonade stands after state employees were caught demanding fees. The measure shields young entrepreneurs from red tape targeting their summer ventures.
An AI-generated Alexander Hamilton will chat with visitors about economics at the Museum of American Finance, opening this weekend in Boston. The exhibit blends historical figures with conversational AI.
New York official Zohran Mamdani drew ridicule from Republicans after urging residents to set their thermostats to 78 degrees to save energy. Critics framed the appeal as out of touch amid an extreme heat wave.
Google lost its long-running appeal of a record European Union antitrust fine and must now pay $4.7 billion, capping one of the biggest regulatory battles in tech history.
A coalition of 25 states sued the Trump administration over new Medicaid work requirement rules, warning they could strip health coverage from millions.
Chinese e-commerce giant Alibaba agreed to pay $600 million to settle allegations that it allowed illegal drug and equipment sales on its platforms.
Home battery installations across the US reached a record high as households look to offset rising electricity costs and guard against grid instability.
The Philadelphia landmark that housed Alexander Hamilton's First Bank of the United States has reopened as a museum after years shuttered, spotlighting the roots of the US economy.
New federal rules reshaping repayment, forgiveness and borrowing limits take effect, changing the financial picture for millions of current and future student borrowers.
The Trump administration is blocking a long-term renewal of the USMCA trade agreement, throwing North American commerce into uncertainty as the US, Canada and Mexico open tense negotiations.
President Trump reported more than $1 billion in income from crypto ventures during his first year back in office, according to a newly released financial disclosure, with much of the windfall driven by meme coins. The filing renewed scrutiny over conflicts of interest as the administration continues to shape digital-asset policy. Estimates of the total ranged past $1.4 billion depending on how associated holdings were counted.
The UK government signaled it may intervene in Paramount's roughly $110 billion takeover of Warner Bros., citing concerns over the media megamerger. The move could complicate one of the entertainment industry's largest pending deals.
President Trump asked Elon Musk to donate SpaceX stock to help seed federal savings accounts for American children, according to a report. The unusual proposal would tie a flagship government savings program to the private space company.
Cryptocurrency companies have poured roughly $189 million into the 2026 U.S. elections so far, according to a new report, cementing the industry as one of the cycle's biggest political spenders. The figure underscores crypto's escalating push for influence in Washington.
Arkansas moved to bar soft drinks and candy from purchases made with food stamps, part of a growing push to steer federal nutrition benefits away from junk food. Supporters frame it as a health measure, while critics question restricting recipients' choices.
The FDA will permit Zyn nicotine pouches to be marketed as a less harmful alternative to cigarettes, a first-of-its-kind authorization for the popular product. The decision reflects a regulatory shift toward harm-reduction messaging for smokeless nicotine.
The Justice Department sued major egg producers, accusing them of conspiring to rig prices and squeeze consumers amid years of elevated grocery costs. The antitrust action targets an industry that has drawn scrutiny over soaring egg prices.
The Supreme Court struck down decades-old limits on coordinated spending between political parties and candidates, a ruling conservatives hailed as a First Amendment victory and critics blasted as handing more power to wealthy donors. Sen. Chris Murphy called the court an 'arm of the oligarchy' in the wake of the decision.
South Korea unveiled a roughly $1 trillion national push to expand memory-chip production and build out humanoid robotics, a sweeping bid to cement its lead in the technologies underpinning the AI boom.
The Supreme Court ruled that Federal Reserve Governor Lisa Cook may keep her seat for now, even as it upheld the president's power to fire other regulators in a decision liberal justices warned would destabilize independent agencies.
President Trump formally nominated acting Labor Secretary Keith Sonderling to lead the agency permanently, elevating the workplace-policy attorney who has run the department on an interim basis.
Rep. Alexandria Ocasio-Cortez called for breaking up big tech companies as consumers face rising prices on devices and services, reviving antitrust pressure on the industry. Her push lands as hardware makers raise prices, citing soaring memory costs.