From crises to growth: US Federal Reserve Chair Jerome Powell lauds Fed's 75 years of service
US Federal Reserve Chair Jerome Powell honours the 75th anniversary of the Division of International Finance, highlighting its vital role in analysing global economic trends, trade, and capital flows. The division's research informs monetary policy and aids crisis response, from the Latin American debt crisis to the pandemic. Powell praises the division's contributions to maintaining global financial stability and its ongoing support for the Federal Reserve's mission to serve all Americans.
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First Post
2 hours ago
- First Post
Is Trump setting up a surveillance database on Americans?
The Trump administration has already pursued access to extensive data points on citizens and others, including bank account numbers, student debt amounts, medical claims, and disability status read more US President Donald Trump might be on the way to creating a master database on every single American, giving him 'untold surveillance power.' According to reports in US media, the US administration's work with Palantir Technologies Inc to gather data of American citizens from several federal agencies has raised concerns over privacy and potential misuse. Trump in March passed an executive order to implement federal data sharing. That order is now being enforced by the US administration with support from Palantir. A New York Times report revealed Friday that several federal agencies have already started using the Palantir platform, including the Department of Health and Human Services as well as the Social Security Administration. STORY CONTINUES BELOW THIS AD Moreover, there are speculations that the Internal Revenue Service might also launch talks with Palantir over potential onboarding. Now, the US government can easily compile date from all these different federal agencies into one mega database. The idea of creating detailed profiles of Americans using government data is not far-fetched. The Trump administration has already pursued access to extensive data points on citizens and others, including bank account numbers, student debt amounts, medical claims, and disability status from government databases. In its justification, the US administration says it's looking to 'eliminate information silos and streamline data collection across all agencies to increase government efficiency and save hard-earned taxpayer dollars.' More about Palantir In recent years, Palantir has emerged as a top data and analytics firm. While it serves corporate clients, its most notable and controversial work is with the US government, particularly the military and intelligence agencies, as well as foreign governments. Founded in the early 2000s by right-wing billionaire Peter Thiel, along with venture capitalists and entrepreneurs Joe Lonsdale, Stephen Cohen, and Alex Karp—who is currently CEO—Palantir has become a key player in this space. However, the firm is being labelled as 'controversial' in US media. It has been notorious for being highly secretive about its data mining and surveillance work. STORY CONTINUES BELOW THIS AD
Time of India
3 hours ago
- Time of India
What is Palantir? Secretive data firm with deep government ties, now central to Trump's federal data-sharing plan
Representative image US President Donald Trump's executive order calling for greater data sharing across federal agencies has sparked concern, prompting fears he could create a master database of personal information on millions of Americans. Though Trump has not publicly commented on the initiative since, officials have taken concrete steps behind the scenes—speaking to multiple agencies about adopting tech firm Palantir's data integration tools. Representatives from Palantir are now in talks with the social security administration and the IRS, and the company's Foundry software is already in use at the department of homeland security and the department of health and human services. Foundry allows massive datasets to be merged and analysed, effectively paving the way for the government to build detailed profiles on individuals. The move has alarmed privacy watchdogs and civil liberties groups, who fear the system could be weaponized for political purposes, especially against immigrants and critics. What is Palantir? Palantir is a data analytics company that began by supporting US military operations and now works with governments and private companies across more than 40 industries. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo It was founded in 2003 by PayPal co-founder Peter Thiel, along with Alex Karp, Joe Lonsdale, and Stephen Cohen. CEO Karp and president Cohen still lead the company as of June 2025. The firm was born from the idea of using PayPal's fraud detection tools to help the US track terrorists, while preserving civil liberties. Early funding came from Thiel and a $2 million investment from the CIA's venture arm, In-Q-Tel. Palantir's software was eventually deployed in Iraq and Afghanistan, helping U.S. troops detect threats like roadside bombs and ambushes. Palantir has since built software to support CIA operations, prevent terrorist attacks, and assist with vaccine rollout. It entered the commercial sector in 2009, when JPMorgan Chase began using its tools to catch financial fraud. After going public in 2020, the company expanded to sectors such as healthcare, finance, and manufacturing, with commercial work now making up half its revenue. While Palantir has drawn praise for its role in national security and data-driven decision-making, its growing influence has sparked debate. The company has assisted US Immigration and Customs Enforcement (ICE) in locating undocumented immigrants and asylum seekers, contributing to family separations and high-profile workplace raids. In 2019, over 200 Palantir employees signed a petition protesting its work with ICE, and Amnesty International has condemned its role in deportation efforts. Now, as Trump pushes for deeper data integration across federal agencies, critics warn Palantir's tools could become a government surveillance engine. Lawsuits from student groups and labor unions have been filed to prevent such access, citing concerns that the administration could use sensitive information—like bank accounts, medical claims, and disability status—for political targeting.
Time of India
6 hours ago
- Time of India
Trump ropes in Palantir to compile data on Americans
US President Donald Trump WASHINGTON: In March, President Donald Trump signed an executive order calling for the federal govt to share data across agencies, raising questions over whether he might compile a master list of personal information on Americans that could give him untold surveillance power. Trump has not publicly talked about the effort since. But behind the scenes, officials have quietly put technological building blocks into place to enable his plan. In particular, they have turned to one company: Palantir, the data analysis and technology firm. Representatives of Palantir are also speaking to at least two other agencies - the Social Security Administration and the Internal Revenue Service - about buying its technology. The push has put a key Palantir product called Foundry into at least four federal agencies, including DHS and the health and human services department. Widely adopting Foundry, which organizes and analyzes data, paves the way for Trump to easily merge information from different agencies, govt officials said. Creating detailed portraits of Americans based on govt data is not just a pipe dream. The Trump administration has already sought access to hundreds of data points on citizens and others through government databases, including their bank account numbers, the amount of their student debt, their medical claims and any disability status. Trump could potentially use such information to advance his political agenda by policing immigrants and punishing critics, Democratic lawmakers and critics have said. Privacy advocates, student unions and labour rights organizations have filed lawsuits to block data access, questioning whether the govt could weaponize people's personal information.
