Americas / The Economic Times
Rudy Giuliani got injured in a car accident in New Hampshire. The vehicle he was in was hit from behind. Giuliani suffered a fractured vertebra and other injuries. Ted Goodman, his spokesperson, and the other driver also sustained injuries. Police are investigating the incident. Giuliani is currently recovering in a trauma center.
Donald Trump's action to dismiss a Federal Reserve board member sparks worries. Experts fear this move threatens the Fed's autonomy. Economists caution that political influence could lead to higher inflation. Lisa Cook's potential removal could shift the Fed's board control. The court will decide on blocking Cook's firing. The Fed's independence is crucial for economic stability.
The U.S. government is investing heavily in domestic critical mineral production to reduce reliance on China. This initiative includes funding for American companies, setting minimum prices for U.S.-produced minerals, and investigating foreign supplies. These efforts aim to secure the supply chain for essential components in electric vehicles, smartphones, and defense technologies, addressing national security concerns.
President Trump is challenging the Senate's lue slip tradition, which allows home-state senators to influence judicial and U.S. attorney nominations, deeming it unconstitutional and threatening legal action. However, key Republican senators, including Grassley and Thune, are resisting Trump's push to abandon the practice. They argue it's a valuable tool for both parties and essential for confirming nominees.
Keurig Dr Pepper is set to acquire JDE Peet's, the owner of Peet's Coffee, for approximately $18 billion. Following the acquisition, the company intends to split into two distinct entities: one concentrating on coffee brands and the other on its beverage portfolio, including Dr Pepper and 7Up.
The Trump administration's renewed pursuit of the death penalty faces significant judicial pushback, with judges blocking attempts to reverse prior decisions against capital punishment in numerous cases. Attorney General Bondi's efforts to reinstate the death penalty, fulfilling a Trump campaign promise, have been largely thwarted due to constitutional and procedural concerns.
In the United States, unemployment claims saw a slight increase last week. The Labor Department reported 235,000 new applications. However, overall layoffs remain within a healthy range, consistent with the past few years. The four-week average also experienced a rise. The number of Americans receiving benefits reached 1.97 million, the highest since November 2021.