Martha MacCallum on The Trump Administration's Big Picture
President Trump continues to forward his agenda, announcing new tariffs, working towards peace in Ukraine and the Middle East, and empowering the DOGE department to slash more government waste. Roughly halfway through his first 100 days in office, the President now awaits Congress to act on passing a federal budget to avoid a Friday night shutdown. Anchor and Executive Editor of The Story with Martha MacCallum, co-anchor of FOX's election coverage, and host of The Untold Story with Martha MacCallum, Martha MacCallum joins the Rundown to discuss the President's agenda, the challenges he has faced, and what comes next for his foreign policy plans.
Many Americans spend too much time on their phones. Recent research has shown a connection between excessive screen time and increased levels of anxiety and depression. Psychiatrist and researcher Dr. Judith Joseph joins us to discuss her new book, 'High Functioning: Overcome Hidden Depression and Reclaim Your Joy,' and to highlight the negative effects of too much screen time.
Don't miss the good news with Tonya J. Powers.
Plus, commentary from the host of the 'Kennedy Saves The World' podcast, Kennedy.
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Yahoo
13 minutes ago
- Yahoo
South Korea Plans $22 Billion Extra Budget as Tariffs Hit Growth
(Bloomberg) -- South Korea unveiled an extra budget worth billions of dollars, in a bid to support an economy struggling with sluggish consumption and mounting trade headwinds from Donald Trump's tariffs. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports The 30.5 trillion won ($22.2 billion) proposal includes 15.2 trillion won for economic stimulus and 5 trillion won for supporting livelihoods like small businesses, the finance ministry said in a statement. Another 10.3 trillion won is set aside to cover revenue shortfall for this year's existing budget, as taxation income fell due to weaker corporate performance and consumer spending. The proposal comes after President Lee Jae Myung took office earlier this month, vowing to boost growth and improve livelihoods. He had pledged over 30 trillion won in fresh spending through extra budgets to support small businesses and offset trade shocks. Before the election, 13.8 trillion won had already been approved as part of the first supplementary budget. Lee has inherited an economy already under pressure from weakening demand, compounded by months of political turmoil triggered by former President Yoon Suk Yeol's failed martial law bid. The country's gross domestic product shrank in the first quarter, prompting the Bank of Korea to slash its 2025 growth forecast to 0.8% from 1.5%. The central bank also cut its key interest rate to 2.5% and signaled more easing may follow. Of the 10.3 trillion won tax revenue shortfall, nearly 9 trillion won stemmed from declines in corporate and value-added taxation income. The figures point to deepening economic strain, and help explain why policymakers are leaning more heavily on fiscal stimulus. As a leading semiconductor manufacturer and a key player in global supply chains, South Korea remains particularly vulnerable to trade risks from US tariffs. Exports are equivalent to more than 40% of the country's GDP, and are a key driver of the the country's growth rate. Trump's across-the-board tariffs for South Korea, which are set to jump to 25% in early July from a baseline 10%, are among the highest imposed on US allies. Other sector-specific levies by the Trump administration threaten key South Korean industries, including semiconductors, cars, steel, and aluminum. 'Bold and timely fiscal support is essential for the economy to return to a solid upward trajectory,' second Vice Minister of Finance Lim KiKeun said in a briefing Wednesday. 'While the supplementary budget cannot solve all challenges at once, it represents the first crucial step forward.' The government plans to fund the extra budget through a mix of spending cuts and debt issuance. About 5.3 trillion won will come from restructuring existing outlays, while 2.5 trillion won will be drawn from surplus balances in public funds. Another 3 trillion won will come from changes to foreign exchange stabilization bonds, while the bulk — 19.8 trillion won — will be financed through new sovereign bond sales. The fiscal push will raise the nation's debt-to-GDP ratio to 49% this year, from 47.4% in 2024, as total government spending climbs 6.9%, the ministry said. Even before the election, the need for more fiscal stimulus was clear. BOK Governor Rhee Chang-yong warned that additional measures would likely be required in 2025, underscoring the challenges facing Asia's fourth-largest economy. As part of the stimulus package, the government plans to distribute vouchers worth between 150,000 and 500,000 won per person. The payments will be provided to the general population rather than targeted groups. The issuance of regional gift certificates will also be expanded to encourage spending, with policymakers hoping the combined measures will deliver a swift injection of cash into the real economy. The proposal still needs parliamentary approval, and opposition lawmakers have raised concerns about the rapid debt buildup and potential inefficiencies in spending. Song Eon-seog, a lawmaker from the People Power Party, warned that 'reckless extra budgets' could actually harm both livelihoods and the broader economy. Earlier this month, the central bank stressed the importance of swiftly drafting and implementing an extra budget to boost domestic demand, saying the stimulus would have only a limited impact on inflation. --With assistance from Seyoon Kim and Shinhye Kang. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Sign in to access your portfolio
Miami Herald
16 minutes ago
- Miami Herald
Trump's immigration crackdown straining labor force for Minnesota ag, food operations
As agricultural and canning operations are ramping up for the summer, they are trying to figure out the possible repercussions of stepped-up immigration enforcement. The workforce for these businesses has become tighter over the past few years, and many were worried that the threat of raids coupled with increased security at the Mexican border would further deplete summer help. "It's kind of a freak-out time [for the agriculture supply line]," said Fernando Quijano, economics educator with the University of Minnesota educator in Moorhead. "We're talking about agriculture, man, some of the most serious business we have in the United States." This week many farm groups and commodity associations are staying quiet about the latest guidance from the Department of Homeland Security. Just a week ago, DHS reportedly paused raids on rural areas, after pressure from those same groups. But on Monday, the Trump administration reversed course. DHS officials said there would be "no safe spaces" for companies that use undocumented labor. The policy whipsaw came after a meatpacking plant raid in Nebraska last week and heavy lobbying of U.S. Agriculture Secretary Brooke Rollins and other officials by farm and food companies. The mixed signals carry another level of worry for those who rely on immigrant labor, say Minnesota rural economic experts. Most of these dairy and pork farms, meat processors and vegetable canneries are in rural Minnesota, where support for President Donald Trump remains close to 50%. Still, many believed last week the behind-the-scenes pleadings had softened the administration's stance, Quijano said. "It seems to me Trump is realizing that we need some sort of protections (for farm workers)," he said. Tracking undocumented labor is difficult. Minnesota was home to anywhere between 50,000 to 70,000 unauthorized immigrant workers in 2022, according to estimates from the Center for Migration Studies and the Pew Research Center. A large share of them work on farms or food and meat processing. But those numbers are down significantly from previous estimates a decade ago. Immigration policies have affected how willing undocumented laborers are to seek jobs in the state, and businesses hiring those labors are struggling to make up the difference. "A lot of those industries have been dealing with a really tight labor market since 2017," said Cameron Macht, a regional labor analyst manager for the Minnesota Department of Employment and Economic Development. "Constraining the number of available workers is a challenge ... they're already looking for more workers and so not having access to a portion of workers is going to create an extra challenge." Only 27% of farms hire outside help in Minnesota, according to the USDA census, said Lauren Heers, a University of Minnesota extension educator for the central part of the state. A good number of those workers are immigrants. "Depending on who you ask, you'll hear different experiences - many migrant workers, documented or not, report fears of workplace immigration raids," she said. "Some operators are seeing this reflected in day-to-day labor availability, while some operators report this isn't an issue." In southwestern Minnesota's Lyon County, farmer Dennis Fultz, 78, said Trump's change of course regarding the food and ag industries is another example of how inconsistent federal government policies are this year. "It's frustrating," said Fultz, who describes himself as a lifelong Republican who voted for Kamala Harris last November. But he also said that he and other farmers in Lyon County, which is home to a turkey processing site among other food operations, are finding the workers they need. Yet for areas in the state starting to see a tightening, the anxiety immigrants have felt this year is another barrier to finding enough workers. And in Minnesota, fear is spreading that the first, big raid of a packing house or farm site could be near. "The Trump administration's whiplash approach to immigration enforcement is creating uncertainty all across rural communities," said Sen. Tina Smith, the Democrat from Minnesota. "Families, farmers and food workers deserve stability, not political stunts that disrupt lives and hurt rural economies." Last week, Immigrations and Custom Enforcement agents detained 100 workers at a JBS meatpacking plant outside Omaha. In Worthington, Minn., home to a large pork slaughterhouse owned by JBS, the Brazilian-owned meat giant, residents reported ICE knocking on doors. Of the 120,448 job openings in 2024, according to a state website, over 18,000 were in food preparations. Fewer than 500 were in farming. When the HyLife pork plant in Windom, Minnesota, shuttered two years ago, roughly half of its 1,000-person workforce was on foreign labor visas, including many from the same hometown of Salvatierra, Mexico. As of 2024, Minnesota has around 4,000 ag workers with H-2A visas, meaning they're temporarily employed for seasonal work as farmers and ag concerns can't find enough domestic workers. H2A visa records in the state show Stevens County, home to mega dairy farms, as the largest recipient of H2A labor. But experts say these populations often are different. H2A workers may come from eastern Europe or South Africa. Meanwhile, a majority of undocumented workers, often those working livestock operations, hail from Mexico or Central America. Various statewide business and community groups are lobbying for immigration and visa reform to bring in more foreign workers, arguing Minnesota won't be able to continue growing without foreign-born labor. A Minnesota Chamber of Commerce report in February highlighted how the state's immigrant population is driving population and labor gains. Employment among immigrant workers increased by 7% between 2019 and 2023, compared to less than 1% for native Minnesotans. "Over the past 10 years, half of the new labor force in the state has come from foreign-born workers," said Macht, the DEED analyst. "The match with job vacancies and available openings in the state and the industries that they have helped fill jobs in is just incredibly important to the vitality of the state." Nationwide, the number of certified H-2A workers grew by 64.7%, from 224,965 to 370,628, according to numbers from the Washington-based American Immigration Council. Copyright (C) 2025, Tribune Content Agency, LLC. 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Yahoo
19 minutes ago
- Yahoo
Exclusive-Russia's Dmitriev says Russia, US and Saudi Arabia could act jointly to stabilise oil markets
By Gleb Bryanski ST PETERSBURG (Reuters) -Russia, the United States and Saudi Arabia could act jointly to stabilise oil markets if needed, Russia's investment envoy Kirill Dmitriev told Reuters. Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East that could disrupt crude supplies. Dmitriev, chief of Russia's sovereign wealth fund, said there was a precedent for similar joint action in 2020. "There was an example when (Russian) President Putin, (U.S.) President Trump and (Saudi) Crown Prince Mohammed bin Salman played a key role in stabilising markets," Dmitriev said on the sidelines of the St Petersburg International Economic Forum. "It is early to talk about concrete joint action yet but based on an earlier precedent, such action is possible." In the spring of 2020, as oil prices plummeted amid the COVID-19 pandemic, Trump brokered a deal with top crude producers Russia and Saudi Arabia to cut output and calm the markets. "Events in the Middle East create conditions for oil price rises. The dynamics of these events will define how dramatic this rise will be," Dmitriev said. "The dynamics of such rises sharply reduce the possibility of further restrictions on Russia's energy sector," he said, referring to European Union deliberations on tightening sanctions against Moscow.
