The President of Colombia, Gustavo Petro, warned President-elect Donald Trump that he stands with Panama amid Trump's push for the United States to seize the Panama Canal.
Senate Democrats in Washington are advocating for new taxes to address a looming $16 billion budget shortfall, as revealed in a leaked email sent by Sen. Noel Frame (D-Seattle). The email, sent shortly after Governor Jay Inslee’s announcement of the shortfall, outlines additional taxes beyond those proposed by Inslee, which include a new wealth tax, a temporary 20% business surcharge, and an increase in business and occupation (B&O) tax rates.
Chicago taxpayers could be facing significant costs due to the school board's recent decision to fire Chicago Public Schools (CPS) CEO Pedro Martinez, despite his contract extending through June 2026. Mayor Brandon Johnson’s newly appointed school board voted 6-0 to end Martinez’s tenure, a move that has sparked widespread controversy.
President-elect Donald Trump wrote on Truth Social that the United States may take back the Panama Canal unless the country lowers its costs and opposes Chinese influences.
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.
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.
