Trump pardons Julie and Todd Chrisley, reality TV stars convicted in 2022 of fraud and tax evasion
President Donald Trump on Wednesday signed pardons for reality TV stars Julie and Todd Chrisley, who have been serving federal prison sentences since being convicted three years ago of bank fraud and tax evasion.
Trump's pardons pave the way for the couple best known for the TV series 'Chrisley Knows Best' to be freed from prison. Todd Chrisley, 57, has been incarcerated at a minimum security prison camp in Pensacola, Florida. Julie Chrisley, 52, was imprisoned at a facility in Lexington, Kentucky.
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Yahoo
17 minutes ago
- Yahoo
Fed's Waller Outlines Path to Rate Cuts Later This Year
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'Assuming that the effective tariff rate settles close to my lower tariff scenario, that underlying inflation continues to make progress to our 2% goal, and that the labor market remains solid, I would be supporting 'good news' rate cuts later this year,' Waller said in remarks prepared for a Bank of Korea conference in Seoul on Monday. Waller referenced a speech he gave in mid-April, in which he outlined two scenarios for how trade policy may unfold. His 'large-tariff' scenario assumed an average trade-weighted tariff on goods of 25% that remained in place for 'some time.' The 'smaller-tariff' scenario assumed a 10% average tariff, and that higher country and sector-specific duties would be negotiated lower over time. In both scenarios, Waller expects the impact of tariffs on inflation would be temporary. He also anticipates the levies will cause an increase in the unemployment rate that will 'probably linger.' That said, job cuts would likely be 'modest,' he said, under the smaller-tariff option. 'Reported progress on trade negotiations since that speech leaves my base case somewhere in between these two scenarios,' Waller said. He now estimates a 15% trade-weighted tariff on goods imports. During Waller's dialogue with Bank of Korea Governor Rhee Chang-yong, he attributed recent increases in long-term treasury yields to rising concerns over the US fiscal deficit. He said markets had expected some progress toward fiscal consolidation, but estimates now suggest the federal deficit will remain near $2 trillion — about 6% of gross domestic product — for the foreseeable future. 'If there's going to be a lot more debt issuance than the markets thought, they'll buy it — but at a much lower price, unfortunately,' he told Rhee. 'It's not a question of whether it will sell, but the price they're willing to pay.' He added that recent trade and geopolitical developments, including tariff announcements and signals from the White House, have fueled risk aversion among foreign investors. Some institutional buyers are reassessing their exposure to US assets, which could weigh on demand and push yields higher. Inflation Expectations Waller largely dismissed a 2025 surge in the University of Michigan's gauge of consumers' inflation expectations over the next five to 10 years. He said he prefers to look at market-based measures of inflation compensation and professional forecasters' expectations, which have not seen a similar increase. Waller said the 'strong' labor market and recent progress toward the Fed's 2% inflation goal offer policymakers time to see how trade negotiations unfold, echoing many of his colleagues. Fed officials have largely indicated rates are in a good place while they await further clarity on President Donald Trump's policies — particularly tariffs — and their impact on the economy before adjusting borrowing costs. Waller underscored that considerable uncertainty remains around the ultimate level of duties imposed on other countries and sectors. Trump announced Friday that he would be increasing tariffs on steel and aluminum to 50%, from 25%. 'As of today, I see downside risks to economic activity and employment and upside risks to inflation in the second half of 2025, but how these risks evolve is strongly tied to how trade policy evolves,' Waller said. Stablecoin Implications Waller also weighed in on stablecoins, describing them as a potential tool to introduce competition into payments system. 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Yahoo
23 minutes ago
- Yahoo
Harvard Chinese grad speech draws praise and ire
A Chinese Harvard graduate's speech calling for unity in a divided world, delivered days after the US vowed to "aggressively" revoke Chinese students' visas, has sparked mixed reactions in the US and her home country. "We don't rise by proving each other wrong. We rise by refusing to let one another go," Jiang Yurong said on Thursday, the same day a US federal judge blocked the Trump administration's ban on foreign students at Harvard. Her speech went viral on the Chinese internet, with some saying it moved them to tears. However, others said her elite background is not representative of Chinese students. In the US, some have flagged her alleged links with the Chinese Communist Party. In their efforts to restrict Harvard from enrolling foreign students, US authorities had accused the institution of "co-ordinating with the Chinese Communist Party". Ms Jiang, who studied international development, was the first Chinese woman to speak at a Harvard graduation ceremony. In her address, Ms Jiang emphasised the value of Harvard's international classrooms, noting how that taught her and her classmates to "dance through each other's traditions" and "carry the weight of each other's worlds". "If we still believe in a shared future, let us not forget: those we label as enemies - they, too, are human. In seeing their humanity, we find our own," said Ms Jiang, who spent her final two years of school at Cardiff Sixth Form College in Wales before going to Duke University in the US for her undergraduate degree. A conservative X account, with the handle @amuse, criticised Harvard for choosing a graduation speaker who is "a representative of a CCP-funded and monitored non-government organisation", alleging that her father works for a non-government organisation that "serves as a quasi-diplomatic agent for the [party]". The account, which has 639,000 followers, has previously posted pro-Donald Trump content, such as the US leader fighting Darth Vader and sexualised imagery of former Vice-President Kamala Harris. Some Chinese social media users, on the other hand, allege that the organisation Ms Jiang's father works for is backed by prominent American companies and foundations. The BBC has not independently verified these allegations. "This is why she could get a scholarship to go to the UK for high school, and later also to Harvard," wrote a user on China's X-like platform, Weibo. Others called for her to stay on in the US, with comments that reeked with sarcasm. "Such talent should be left to the United States," one wrote. "I hope she will continue to glow abroad and stay away from us!" read another. But Ms Jiang's vision of a "shared humanity" also struck a chord. "That she is able to stand on an international stage and speak the heart of Chinese students has moved me to tears," wrote a user on Red Note, another Chinese social media platform. Another user defended Jiang by hitting back at those who criticised her: "You may not have changed them, but they've heard you... As more and more people speak out like you, you will eventually move and change others." There are around 6,800 international students at Harvard, who make up more than 27% of its enrolments in the past academic year. About a third of these foreign students are from China, and more than 700 are Indian. Students or spies? The young Chinese caught in Trump's crosshairs 'We did not sign up for this': Harvard's foreign students are stuck and scared
Forbes
27 minutes ago
- Forbes
China Accuses US Of Violating Trade Pact—Rejects Trump's Allegation
Chinese authorities on Monday accused the U.S. of violating a recent trade pact that both agreed to in Geneva last month, as they dismissed President Donald Trump's allegation about Beijing breaching the agreement, a move that could signal a further escalation in trade tensions between the two countries, which could potentially jeopardize last month's tariff truce. China's Commerce Ministry accused the U.S. of violating a trade deal agreed in Geneva by imposing ... More additional chip restrictions and canceling Chinese student visas. In a press briefing, a Chinese Commerce Ministry spokesperson dismissed Trump's comments accusing China of violating the agreement, saying Beijing has worked 'to strictly implement and actively safeguard the Geneva deal.' The spokesperson noted that China had acted in accordance with the deal to cancel or suspend 'relevant tariffs and non-tariff measures' it had taken as retaliation against the U.S. government's reciprocal tariffs. The spokesperson then accused the U.S. of introducing ' a number of discriminatory restrictive measures against China' after the talks, citing expanded export controls on AI chips and other chip-building technology. The official also criticized the U.S. government's crackdown on Chinese student visas, saying these actions violated the consensus reached between Trump and Chinese President Xi Jinping in a phone call on January 17. The spokesperson then warned that if the U.S. continues to take actions that damage China, Beijing will 'take resolute and forceful measures to safeguard its legitimate rights and interests.' In a post on his Truth Social platform on Friday, Trump said: 'China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' without specifying how it had done so. The president then signalled that the U.S. may retaliate against this alleged non-compliance, saying: 'So much for being Mr. NICE GUY!' In his post, the president claimed his tariffs had put China in 'grave economic danger' and he made a 'FAST DEAL' in Geneva, 'in order to save them from what I thought was going to be a very bad situation.'
