
Fox News AI Newsletter: Helping DOGE cut waste
- How AI can help Trump and DOGE cut waste, CEO explains- Taco Bell shows off AI 'coach' following massive digital tech investment- Tax scam alert: How to protect yourself and your tax refund
TARGETING WASTE: Albert Invent CEO Nick Talken shared how his artificial intelligence platform saves thousands of scientists time and money on "Mornings with Maria," saying government can also benefit from the technology.
GRAB A 'BYTE': It was a big week for Yum Brands' Taco Bell as executives from the fast-food giant held its annual Live Más LIVE event in New York City, showcased new labor-saving technology, and announced an investment of $1 billion into digital and technology.
AVOID IRS SCAMS: Tax season is upon us, and while many of you are preparing to file your returns, it's crucial to be aware of the ever-evolving world of tax scams.
GOLDEN VOICE: A producer for the Oscar-winning film, "The Brutalist," is defending the production's use of artificial intelligence.
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Yahoo
24 minutes ago
- Yahoo
Commentary: Why Trump is waging war on economists
President Trump knows something he doesn't want to admit publicly — the economy is weakening, largely because of his own policies. What to do? Trump obviously loves tariffs, because slapping taxes on imports gives him leverage over countries, companies, and CEOs. Trump can sway foreign economies, US corporate profits, and even voter well-being by dialing tariffs up or down, a form of power he must find thrilling. But Trump's import taxes are bound to take a toll on the US economy because they raise costs, destroy efficiencies, and add uncertainty. When you raise the cost of doing business in a free-market economy, you simply get less economic activity. That data is now starting to show that, just as hundreds of economists have forecast. Hiring has slowed sharply, probably because CEOs are suddenly more cautious about whether sales and profit margins will hold up. Some companies are already suffering and others are likely to join them. Read more: What Trump's tariffs mean for the economy and your wallet Wholesale prices surged in the latest monthly data, exactly what you'd expect given that tariffs are a consumption tax that directly raises the cost of imported goods. There are signs that tariff-related price hikes are hitting consumers too, which also makes sense because wholesalers try to pass on as much of the added cost as they can. "Businesses, for now, are bearing the tariff brunt," David Rosenberg of Rosenberg Research wrote in an Aug. 14 analysis. The cost impact is spreading across the supply chain. Goods shipments to the United States are plunging, which suggests there will be future shortages and even higher prices. Consumers are likely to start noticing in the back-to-school shopping season and when they do holiday shopping toward the end of the year. Trump and his supporters argue that the tariffs haven't had any of the dire effects critics have predicted, such as a recession or a stockmarket wipeout. 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On Aug. 12, Trump said investing titan Goldman Sachs should 'get … a new economist' after the firm published a report forecasting that consumers would bear 67% of the cost of Trump's tariffs. Trump has repeatedly lambasted Federal Reserve Chair Jerome Powell (who's a banker, not an economist) for refusing to cut interest rates. Many economists think the Fed is right to stand pat, given that Trump's tariffs are stoking inflation and lower rates would make inflation worse. Trump is seeking some friendlier economists who might be inclined to tilt the data in Trump's favor. He nominated conservative economist EJ Antoni to run the agency overseeing the jobs and inflation reports, a move widely booed by the economic establishment. Trump appointed White House economist Stephen Miran to a temporary opening on the Fed's rate-setting committee, and next year Trump will be able to appoint a new Fed chair as Powell finishes out his term. Read more: How jobs, inflation, and the Fed are all related The battle lines forming will pit most mainstream economists against the alternative narrative Trump's own forecasters are likely to weave. Trump will never attain critical mass. Most economic forecasts and analyses are within decimal points of each other, and sometimes the only big variation is timing. While Goldman Sachs thinks consumers will bear most of the cost of Trump's tariffs, for example, so do researchers at just about every other investing firm, forecasting outfit, and think tank. There's no political cost to Trump's war on economists, who aren't exactly populist heroes toiling in the trenches with the common man. But ordinary people don't need economists to tell them if the economy is good or bad, if it's a boom or a recession. They feel it in their own lives based on how much their paycheck can buy, opportunities to get ahead, and what they see happening to other people in their communities. 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Yahoo
24 minutes ago
- Yahoo
Tilray Eyes Reverse Stock Split As Nasdaq Listing Compliance Pressure Mounts
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The Hill
26 minutes ago
- The Hill
Watch live: Trump gives remarks as Social Security turns 90
President Trump will give remarks Thursday afternoon to mark the 90th anniversary of the Social Security Act, which established the program that now serves as a vital source of income for millions of Americans. The comments come just over a month after Trump signed the 'big, beautiful' spending and tax package into law, which includes a $6,000 tax deduction for Americans 65 or older. While the provision does not fully end taxes on Social Security payments, it could zero out the tax burden for 88 percent of seniors, according to administration estimates. But, experts have also warned, the measure could speed up insolvency for the program's trust funds. The event is scheduled to begin at 1 p.m. EDT. Watch the live video above.