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CBS News
2 minutes ago
- CBS News
Sen. Elizabeth Warren discusses future of Mass Pike project, Cape Cod bridges and President Trump
The opinions expressed below are Jon Keller's, not those of WBZ, CBS News or Paramount Global. President Donald Trump's recent firing of the head of the Bureau of Labor Statistics after she revised employment figures for May and June sharply downward sparked a political uproar over the potential damage to the integrity of government data. But the fuss may have partially obscured the grim economic implications of the reported trends, said Massachusetts' senior Senator Elizabeth Warren in a WBZ-TV interview. "The economy is in a lot shakier condition than the earlier numbers had reported," said Warren, who fixes blame on three major Trump administration policies. "Trump decided first of all just to cause tariff chaos, right? So tariffs are up, tariffs are down. And what that does is every employer in America who's in manufacturing, anything that might [involve] import or export, says 'I don't know what it's going to look like.' So they all hold back. They don't build new buildings, they don't hire, they don't buy new tools. And that starts to have an effect on the economy, as well as pushing prices up in areas where tariffs are beginning to bite." Warren also cited the Elon Musk-led firing of thousands of federal workers and the termination of research grants as damaging to the economy. "And then they pass their signature piece, which is this bill to take away health care from 17 million Americans and drive up the cost of health care for others, so you can do tax breaks for a handful of billionaires. And I say all this because those three things together, any one of them would have created choppy water for the economy. The three of them together means it's serious wave action now." Closer to home, we asked Warren about the future of two major local infrastructure projects - the replacement of the two aging bridges over the Cape Cod Canal, and the reconstruction of the Mass Pike extension in Allston - that rely heavily on federal funding. On the Cape bridges, to which $1.72 billion in federal funds have been dedicated, Warren said the money is not legally subject to clawback by the administration, so "we're going full speed ahead, and that's exactly as it should be. On the other hand, the Trump administration in other areas has shown that it is perfectly willing to ignore the law and try to pull back research grants, try to pull back investments throughout the country." And the situation with more than $327 million pledged for the Pike project that has now been pulled back by the feds is "bad," said Warren, who offered no hope of a reversal of the federal decision. Warren also discussed her ability to deal with executive branch agencies on issues like Social Security services in the interview, which is the first of two parts with the senator. You can watch part one in the video above. Tune into WBZ-TV every Sunday morning at 8:30 for the weekend edition of Keller at Large.
Bloomberg
2 minutes ago
- Bloomberg
Computer-Driven Traders Are Bullish on Stocks, Humans Are Bears
The thing about trading stocks is everyone has an opinion. And right now there's an unusual divergence in the market that's as stark as man versus machine. Computer-guided traders haven't been this bullish on stocks compared to their human counterparts since early 2020, before the depths of the Covid pandemic, according to Parag Thatte, a strategist at Deutsche Bank AG.
Fox News
29 minutes ago
- Fox News
Trump visa policies force colleges to scramble as international students vanish: report
An educational consultant warned that there will be "no more normal years" as colleges brace for a loss of international students and face financial challenges due to those losses. Prestigious colleges have been offering student prospects on their waitlist a spot among their first-year students a lot later than usual, according to Town & Country. "This is not a typical year," the outlet reported. The magazine explained further that waitlist discussions on college forums "went deep into July." Top schools like Columbia University, Rice University, Stanford University, and Duke have been notifying students a lot later than usual. In an effort to attract students who were waitlisted, Rice University has had to compensate students who have already committed to another school and received important materials such as course schedules and freshman dorm assignments. Rice has been admitting students from its waitlist deep into summer. The admissions process at America's most selective universities has been disrupted, possibly due to the Trump administration's pressure on colleges' handling of antisemitism on campus and civil rights violations as well as freezing the funding they relied on from the federal government, the outlet suggested. "The most likely explanation for the waitlist extensions this year is a fear that international students will not be able to start classes in August as a result of a pause that Secretary of State Marco Rubio placed on visa interviews earlier this year, between May 27 and June 18, during their peak season," the outlet reported. "When interviews were resumed, U.S. consulates were told that they must implement new social media vetting protocols within five days. According to NAFSA, a professional organization for people who work in international education, the State Department provided little guidance on how to carry out this new order." International students at consulates in India, China, Nigeria, Japan, and other countries are reportedly backlogged due to a "three-week" pause in interviews. Colleges will lose many of their international student enrollment as India and China make up over half of international students in the U.S. "NAFSA predicts 'a potential 30–40 percent decline in new international student enrollment,' which could mean 150,000 fewer international students on American campuses," Town & Country reported. Mark Moody, an education consultant who has worked at high schools domestically and internationally for almost three decades, told Town & Country that this "year's issue with international enrollment needs to be understood as compounding, not creating, problems that have been developing for some time." The financial implications are a significant factor. Union College reportedly announced financial cuts and was forced to pull from endowment funds after a decline in international students. The loss of international students has shaken up the college admissions process, causing many universities to extend the waitlist deadline as they struggle to predict which students will enroll. "Students are applying to more colleges, making it harder to predict who will enroll. Colleges are seeing more students secure a spot in a college with a deposit in the spring and then never actually enroll, a phenomenon known as melt. It's become more common for families to make deposits at multiple colleges in the hope of securing better financial aid deals later that summer," the outlet reported. "The international visa problems have made the uncertainty and anxiety among admissions leaders worse, but they were already bad," Town & Country stated. Moody told Town & Country that the college admissions landscape will favor students with "higher admit rates and more merit aid, especially if they're from full-pay families." "Outside of the Ivy League and perhaps a dozen other schools with massive endowments, colleges are going to feel great pressure to admit more students who will help them hit their bottom line." Moody worries that more colleges will lean heavily into their early decision process to admit a larger percentage of their freshman class, which "could put students in a tough spot" if they apply regular decision or if they don't approach early decision very carefully and strategically. "There are no more normal years," Mark Moody said to Town & Country. Fox News Digital reached out to Columbia University, Rice University, Stanford University, Duke University, and Union College for comment but did not immediately receive responses.
