
Trump says Fed's Powell should be put 'out to pasture'
He made the comments in a Truth Social post, where he ordered the firing of U.S. Bureau of Labor Statistics, Erika L. McEntarfer.
"The Economy is BOOMING under 'TRUMP' despite a Fed that also plays games, this time with Interest Rates, where they lowered them twice, and substantially, just before the Presidential Election, I assume in the hopes of getting 'Kamala' elected – How did that work out? Jerome 'Too Late' Powell should also be put 'out to pasture,'" Trump wrote.
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The Sun
11 minutes ago
- The Sun
Keir Starmer paves way for tax hikes this autumn putting damper on interest rate cut
SIR Keir Starmer has paved the way for tax hikes this autumn — putting a damper on today's expected interest rate cut. The Prime Minister failed to explicitly rule out increases to income tax or National Insurance in the Budget to plug a multi-billion-pound black hole. His refusal to reaffirm manifesto commitments comes as experts warn an eye-watering £50billion is needed just to maintain Chancellor Rachel Reeves ' £9.9billion financial buffer. Speaking on a visit to Milton Keynes, Sir Keir said: 'In the autumn, we'll get the full forecast and obviously set out our Budget. 'The focus will be on living standards, so that we will build on what we've done in the first year of this government. 'We've stabilised the economy. "That means interest rates have been cut now four times. "For anybody on a mortgage, that makes a huge difference on a monthly basis to how much they pay.' No10 tried to play down the comments, saying the Government remains committed to its manifesto by not raising taxes on working people. But the National Institute of Economic and Social Research has said the Chancellor is likely to be forced into raising taxes and cutting spending just to meet the massive shortfall. Despite the economic gloom, homeowners are set to receive a boost from the Bank of England today. Experts predict bank chiefs will cut i nterest rates by 0.25 per cent, even though inflation is stubbornly high and growth weak. Raising taxes will kill off growth, Reeves warned as she pledges to rip up business red tape 1 TOWN HALL CASH ALERT ONE in four English town halls will lose money under Labour's shake-up to council funding, experts warn. Areas like inner London face risking cash to go to services, while the East Midlands and Yorkshire are set for the biggest cash windfalls. The Institute for Fiscal Studies, said changes will 'sting' for councils set to lose out. Labour's changes, still being consulted on, are due to come into effect next year.


Auto Blog
13 minutes ago
- Auto Blog
Chevy Just Set An Insane EV Range Record—In A Big Truck
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The Independent
13 minutes ago
- The Independent
What to know as Trump's immigration crackdown strips tuition breaks from thousands of students
Tens of thousands of U.S. college students without legal resident status are losing access to in-state tuition prices as part of President Donald Trump 's crackdown on immigration. The Justice Department has been suing states to end tuition breaks for students without legal residency, starting with Texas in June. It has also filed lawsuits in Kentucky, Minnesota and, most recently, Oklahoma. Last year, Florida ended its tuition break for students living there illegally, 'Federal law prohibits aliens not lawfully present in the United States from getting in-state tuition benefits that are denied to out-of-state U.S. citizens,' the Justice Department argued in a lawsuit this month in Oklahoma. 'There are no exceptions.' The tuition breaks once enjoyed wide bipartisan support but have increasingly come under criticism from Republicans in recent years. Here's what to know about the tuition breaks: Texas' program was blocked first Texas' tuition policy was initially passed with sweeping bipartisan majorities in the Legislature and signed into law by then-Gov. Rick Perry, a Republican, as a way to open access to higher education for students without legal residency already living in the state. Supporters then and now say it boosted the state's economy by creating a better-educated and better-prepared workforce. The law allowed students without legal resident status to qualify for in-state tuition if they had lived in Texas for three years before graduating from high school and for a year before enrolling in college. They also had to sign an affidavit promising to apply for legal resident status as soon as possible. Texas now has about 57,000 qualifying students enrolled in its public universities and colleges, according to the Presidents' Alliance on Higher Education and Immigration, a nonpartisan nonprofit group of university leaders focused on immigration policy. The state has about 690,000 students overall at its public universities. The difference in tuition rates is substantial. For example, at the University of Texas Rio Grande Valley, a 34,000-student campus along the border with Mexico, a state resident will pay about $10,000 in basic tuition for a minimum full-time class schedule in the upcoming school year. A nonresident student will pay $19,000. Political pushback and a swift end Texas' law stood mostly unchallenged for years, but it came under fire as debates over illegal immigration intensified. In the 2012 Republican presidential primary, Perry apologized after saying critics of the law 'did not have a heart.' The law withstood several repeal efforts in the Republican-dominated Legislature. During the legislative session that ended June 2, a repeal bill did not even get a vote. But the ax fell quickly. After the Trump administration filed a lawsuit calling the law unconstitutional, state Attorney General Ken Paxton, a key Trump ally, chose not to defend the law in court and instead filed a motion agreeing that it should not be enforced. In Oklahoma, Attorney General Gentner Drummond, also a Republican, filed a similar motion. 'Rewarding foreign nationals who are in our country illegally with lower tuition costs that are not made available to out-of-state American citizens is not only wrong — it is discriminatory and unlawful," Drummond said in a statement. Campuses nationwide feel the impact At least 21 states and the University of Michigan system have laws or policies allowing tuition breaks for the immigrant students, according to the National Immigration Law Center, which favors them. Those states include Democratic-leaning ones such as California and New York, but also GOP-leaning ones such as Kansas and Nebraska. According to the center, at least 16 states allow the immigrant students to receive scholarships or other aid to go to college. Immigration lawyers and education advocates said they are assessing whether there are legal avenues to challenge the rulings.