Fed decisions distorted by ‘phantom inflation’, says Stephen Miran

Former President Donald Trump is considering an executive order to loosen federal restrictions on marijuana, a move that could significantly impact the cannabis industry. This potential shift comes amid ongoing discussions about regulatory reforms in various sectors, including energy and technology.

Korea Zinc has announced plans to construct a $7.4 billion minerals refinery in the United States, with support from former President Donald Trump. This significant investment reflects the company's commitment to expanding its operations in North America and enhancing its production capabilities.

Ford has announced a significant overhaul of its electric vehicle strategy, resulting in a $19.5 billion loss. This decision comes amid weak demand for electric vehicles and regulatory changes implemented during Donald Trump's presidency, leading the company to scrap plans for its flagship all-electric pick-up truck.

Ford announced a $19.5 billion writedown and the discontinuation of several electric vehicle models, including the F-150 Lightning, as it shifts focus towards gas and hybrid vehicles amid declining demand for EVs and the impact of Trump administration policies.

The National Labor Relations Board (NLRB) is currently facing significant operational challenges, having been reduced to a single member due to cuts initiated by former President Trump. This situation has led to unresolved labor disputes and a power struggle within the agency, raising concerns among advocates about the potential erosion of labor protections if the Supreme Court supports Trump's authority over federal agency staffing.

Kevin Hassett, a prominent economic advisor to former President Donald Trump, expressed willingness to engage with Trump daily if appointed as Federal Reserve chair, but emphasized that the president's views would not influence the Federal Open Market Committee (FOMC) decisions. Hassett's comments highlight his commitment to data-driven policy-making.

Analysts have raised concerns regarding the Trump administration's new bill, which incentivizes the integration of artificial intelligence (AI) in healthcare, particularly in under-resourced rural hospitals. While the Rural Health Transformation Fund allocates $50 billion over five years to states meeting specific criteria, experts warn that AI could be misused as a cost-cutting measure rather than a means to improve healthcare delivery.

A group of US contractors, including those with ties to the Trump administration, is competing for a reconstruction deal in Gaza, where three-quarters of structures have been damaged or destroyed due to Israeli strikes. The rebuilding effort is estimated to cost around $70 billion, attracting companies specializing in construction and logistics.