Elon Musk’s DOGE cuts may help Tesla, Neuralink avoid fines: memo

Elon Musk’s DOGE cuts may help Tesla, Neuralink avoid fines: memo

Elon Musk may skirt more than $2 billion in possible financial liabilities by exercising his influence over the federal government, a new report from Senate Democratic committee staffers out Monday alleges. Musk’s ‘Department of Government Efficiency’ has brought sweeping changes to Washington with its slash-and-burn campaign to gut agencies and purge the federal workforce. President…

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Fed’s Hammack calls for patience in assessing what impacts tariffs will have on the economy

Fed’s Hammack calls for patience in assessing what impacts tariffs will have on the economy

Cleveland Fed President Beth Hammack said Thursday she thinks policymakers need to be patient rather than preemptive in assessing how tariffs will impact inflation and growth. In her first broadcast interview since taking the reins at the central bank district in August 2024, Hammack noted the high level of uncertainty now and did not commit…

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Businesses are trying to pass tariff costs onto customers: Fed report

Businesses are trying to pass tariff costs onto customers: Fed report

Businesses dealing with the early stages of President Donald Trump’s tariffs are looking for ways to pass increasing costs onto consumers, according to a Federal Reserve report Wednesday. As Trump ordered against-the-board levies on U.S. imports and higher duties on Chinese products, the Fed’s Beige Book indicated how they plan to proceed. Companies reported getting…

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