The recent governor elections in New Jersey and Virginia sent a clear message to the Republican Party. While Virginia's outcome was expected, with Democrat Abigail Spanberger winning by a large margin, New Jersey's results were a surprise. Republican candidate Jack Ciattarelli, who had shown strong potential, ended up losing by a significant 13 points to Democrat Mik...
The Supreme Court is about to tackle a major issue: President Trump's power to impose tariffs. This case could shake up the president's economic plans. Scott Bessent, the Treasury Secretary, is planning to be there. He wants a front-row seat to the arguments. He thinks this case is super important for the economy and national security. President Trump had thought a...
The UK's money boss, Rachel Reeves, has warned that the upcoming budget will be tough. She blames past governments for the current mess, pointing to Brexit and years of tight spending. She says the country isn't producing as much as it should, which means less money coming in. This makes it hard to pay off debts and fund important services. But it's not all about th...
Many countries have rules to control their spending. These rules are supposed to keep things in check. But sometimes, they can cause more problems than they solve. Take Britain, for example. The country has two main fiscal rules. One says that tax revenues must be higher than day-to-day spending. The other says that debt must fall as a percentage of GDP. These rules...
The UK's finance chief, Rachel Reeves, is set to deliver a major speech. She wants to focus on fairness and opportunity in the upcoming budget. This is her second budget since taking office. It's due on November 26. There's a lot of talk about where she might raise taxes to meet her financial goals. Reeves is expected to break a pre-election promise. She promised no...
The U. S. government is often seen as the go-to fix for problems in the agriculture sector. However, this approach can create more issues than it solves. Many in the ag community agree that stepping away from government intervention will be tough but necessary. The government's well-intentioned fixes often lead to unintended consequences, making it hard to predict if...
France is having a big talk about money and who should pay more taxes. The government and lawmakers can't agree on how to fill a big budget gap. Some want to tax the super-rich, while others worry this could hurt the economy. Left-wing politicians have a plan. They want to tax people who have more than 100 million euros. An economist named Gabriel Zucman says this c...
The Federal Reserve decided to lower its interest rate this week, but mortgage rates didn't follow suit. Instead, they went up. The average rate for a 30-year fixed mortgage increased by 20 basis points after the Fed's announcement and Chairman Jerome Powell's press conference, according to Mortgage News Daily. This isn't the first time this has happened. The bond m...
The world's economy is a complex web, already facing challenges like climate change and geopolitical tensions. Adding reckless political decisions to the mix is like throwing fuel on a fire. This is exactly what happened when President Trump decided to impose an extra 10% tariff on all Canadian goods. Why? Because he didn't like a TV ad from Ontario. The ad featured...
In the UK, big changes might be coming to taxes. The finance minister, Rachel Reeves, has a tough job. She needs to find more money. She wants to raise about 30 billion pounds every year. This is to keep the country's finances stable and to avoid problems with investors. Reeves has said she will look at cutting spending. But most people think these cuts will be smal...