The attorneys general of Montana and Wyoming have filed a lawsuit against the Biden administration following its announcement to halt federal coal production in the Powder River Basin. The Basin, which covers 20,000 square miles in northeastern Wyoming and southeastern Montana, accounts for 85% of federal land-produced coal.
U.S. stocks fell sharply on Wednesday, erasing earlier gains after the Federal Reserve announced a 25 basis point rate cut and projected a slower pace of rate reductions for next year.
Healthcare spending in the United States surged by 7.5% to $4.9 trillion in 2023, driven by increased medical service use and rising enrollment in private health plans, according to a report from the Centers for Medicare and Medicaid Services (CMS).
Italian Prime Minister Giorgia Meloni has openly defended her friendship with US tech billionaire Elon Musk, asserting that her personal connection with him does not influence her duties as Italy’s leader. Speaking in Parliament, Meloni made it clear that her government remains independent, despite her relationship with Musk, and she emphasized that she would not be swayed by his economic interests.
A $70 million furniture manufacturing plant planned by SBA Home, a Lithuanian company that produces furniture for IKEA, will bring 250 new jobs to Mocksville, North Carolina, thanks to significant state and local incentives. The North Carolina Economic Investment Committee approved a $1.4 million job development investment grant, to be distributed over the next 12 years, while Mocksville and Davie County contributed $800,000 in incentives to support the project.
The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
The Biden administration’s Energy Department released a report that could complicate President-elect Donald Trump’s plans to promote liquefied natural gas (LNG) exports.
Florida Governor Ron DeSantis pushed back against "false media narratives" about illegal immigration, following a report highlighting the state's economic growth.
