It’s been an eventful week, with several key figures making headlines. Here’s a quick roundup of the top economic stories that unfolded over the week.
Anthony Scaramucci Sounds Alarm Over $131,000 ‘Basic Stability’ Income
Former White House communications director and SkyBridge Capital founder Anthony Scaramucci has raised concerns about the growing financial disparity in the United States. He pointed out that it requires an annual income of $131,000 for “basic stability” in the U.S., a figure significantly higher than the median income.
Scaramucci’s comments were made in a post on X, where he highlighted the financial challenges faced by most Americans.
Read the full article here.
Jerome Powell Issues Stark Warning As His Exit Nears
As his tenure as Federal Reserve chair comes to an end amid intense political scrutiny, Jerome Powell has issued a quiet but firm warning. Speaking after the Fed’s policy meeting, Powell was repeatedly questioned about his future as chair and a Justice Department investigation that has embroiled the central bank’s leadership.
Read the full article here.
Silver Hits Record High, Echoing Civil War Era
The price of silver has surged to levels not seen in over 150 years, reminiscent of one of the most extreme monetary stress episodes in U.S. history: the American Civil War. The iShares Silver Trust (NYSE:SLV) has seen a 65% monthly gain, with the gray metal surpassing $118 per ounce on Thursday.
Read the full article here.
David Sacks Sees US Nearing ‘Crypto Capital’ Status
The U.S. Senate Committee on Agriculture, Nutrition, and Forestry has advanced cryptocurrency market structure legislation, a move that could establish federal regulations for digital assets. This development has been hailed by industry leaders, including David Sacks, as a crucial step in positioning the U.S. as a global leader in crypto innovation.
Read the full article here.
Trump Predicts Major Interest Rate Drop Under New Fed Chair
President Donald Trump has once again criticized the Federal Reserve and Chair Jerome Powell for maintaining high interest rates. He assured that rates would significantly decrease under the next Chair, during a speech in Iowa.
Read the full article here.
Photo courtesy: Domenico Fornas / Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
