Category: Policies

Wall Street Plunges as Jobs Data Triggers Fed Rate

Wall Street experienced a sharp decline on Friday after the U.S. economy added 172,000 jobs in May, nearly double the expected 88,000, triggering investor expectations for Federal Reserve interest rate increases. The Dow Jones fell 0.55%, the Nasdaq dropped 3%, and the S&P 500 declined nearly 2% as traders bet the Fed would raise rates from the current 3.5-3.75% range to 3.75-4% by year-end. Responding to the market rout, Trump declared on Truth Social that “stocks should go up, not down” and claimed growth does not cause inflation, contradicting basic economic principles and the clear market mechanics at work.

Higher interest rates would substantially increase borrowing costs for major technology companies currently investing hundreds of billions in AI infrastructure through leveraged loans. Economist Seema Shah of Principal Asset Management stated the jobs report “reinforces that there is little basis for an easing bias from the Fed,” while Capital Economics economist Stephen Brown noted the data favors Fed officials inclined toward rate increases over cuts. The labor market resilience undercuts dovish Federal Reserve members’ argument that downside risks remain, making a rate hike substantially more likely later in 2026.

The market deterioration extended across asset classes as traders reassessed rates. Gold fell 2.2% to $4,388.92 per ounce, silver dropped 4.7% to around $70, and the pound weakened 0.3% to $1.339 against the dollar. Bitcoin, which surged to all-time highs above $122,000 following Trump’s election victory, fell below $60,000—its lowest level since October 2024—as investors rotated away from speculative assets ahead of expected rate increases. Bitcoin treasury companies saw combined market value plunge from a peak of $134 billion in October to $72 billion this week, and MicroStrategy announced it sold Bitcoin for the first time in four years, signaling deepening anxiety among cryptocurrency holders.

The broader tech sector faced mounting pressure as concerns about valuation bubbles intensified. Broadcom’s underwhelming earnings on Thursday triggered a $650 billion market value erasure from American microchip manufacturers, while the Nasdaq 100 posted its worst single day since October. Mohamed El-Erian, Allianz’s chief economic adviser, warned that markets face “unsettling volatility” as the widespread “buy the dip” mentality, conditioned by years of policy support, breaks down amid genuine economic headwinds from energy shocks and inflation pressures.

Energy prices remain a central economic wildcard driving inflation expectations and Fed rate decisions. A Bank of England Monetary Policy Committee member warned the energy shock from Iran conflict escalation is the “elephant in the room” for policymakers; Brent crude traded at $93.70 per barrel Friday but climbed to $126 in April over concerns about Trump-ordered strikes on Iran. The resilient labor market, combined with unresolved energy price volatility, leaves the Federal Reserve substantially closer to raising rates and narrows policymakers’ options for supporting asset prices that Trump has repeatedly demanded rise regardless of economic fundamentals.



(Source: https://www.telegraph.co.uk/business/2026/06/05/ai-bubble-tech-stocks-us-jobs-payrolls-ftse-100-markets/)

Trump’s Market Posts Fail as Stocks Fall Despite Strong Jobs Data

Stock markets experienced their worst day of 2026 on Friday, with the S&P 500 falling 2.6% and the Nasdaq dropping 4.2%, despite a jobs report showing 172,000 positions added in May, nearly double economist projections of 85,000. The unemployment rate held steady at 4.3%, yet the strong economic data failed to arrest the sell-off, which centered on semiconductor and artificial intelligence stocks.

Trump responded to the market decline with two posts on Truth Social, first demanding stocks should rise with positive jobs data, then declaring “IT’S RAINING JOBS” in an all-caps post attacking “Bloomberg Economists” and the Biden administration. Neither statement reversed the downward momentum, and stocks continued falling after his initial message. Trump’s posts contradicted basic market mechanics, which respond to interest rate expectations and inflation concerns rather than employment headlines alone.

Consumer sentiment fell for the third consecutive month as Americans confronted ongoing inflation pressures exacerbated by the closure of the Strait of Hormuz and Trump’s tariff policies, which have created additional economic headwinds. The market decline underscored investor skepticism about the administration’s economic trajectory, particularly amid volatile geopolitical conditions and trade uncertainty.

Trump’s attempt to dismiss economist credibility and blame the previous administration revealed a pattern of using social media to artificially influence market perception rather than address underlying economic challenges. His prior stock market commentary preceded substantial moves, while his Friday interventions produced no stabilizing effect, demonstrating the limits of presidential rhetoric in overriding market fundamentals.

The Friday selloff underscored that market confidence depends on institutional credibility and sound policy, not presidential proclamations on social media. Investor behavior reflected concerns about inflation persistence, tariff escalation, and geopolitical risk, conditions that Trump’s populist rhetoric and policy choices have either created or worsened.



(Source: https://www.mediaite.com/politics/trump/trump-feverishly-tries-to-reassure-markets-after-stocks-plummet-its-raining-jobs/)

Trump Threatens Iran After Escalating Military Strikes

Trump threatened Iran with unspecified consequences for negotiation delays, stating “Iran will pay the price” after weeks of claiming a deal was imminent. His warning followed U.S. military strikes against Iran on Tuesday in response to Iran downing an Army Apache helicopter near the Strait of Hormuz, after which Iran launched retaliatory strikes on American bases in Jordan, Bahrain, and Kuwait early Wednesday. The escalation tested a ceasefire that began April 8, though a Qatari delegation arrived in Tehran Wednesday to attempt bridging remaining gaps between U.S. and Iranian negotiators.

Trump’s threat marked a sharp reversal from his repeated claims over two months that a breakthrough was imminent. Just 48 hours before his “pay the price” post, Trump had claimed 38 times in two months that a deal was days away, and expressed reluctance about renewed military action. Yet after the helicopter incident, he authorized fresh strikes framed as a warning and did not rule out further targeting of Iranian infrastructure, telling Fox News on Wednesday “I may keep going.”

Fundamental disputes block agreement, including control of the Strait of Hormuz and Iran’s nuclear program, with the Trump administration’s wil

(Source: https://www.cnn.com/2026/06/09/world/live-news/iran-war-trump-israel)lingness to release $24 billion in frozen Iranian assets remaining contested. Iran’s Foreign Ministry spokesman accused the U.S. and Israel of “repeated ceasefire violations” and stated diplomacy cannot “take place in a vacuum,” signaling Tehran’s willingness to continue talks despite the military exchange. Iranian President Masoud Pezeshkian called for moving beyond the current “state of neither war nor peace,” suggesting negotiations remain the path forward.

The strikes damaged Iranian infrastructure, with at least 20,000 Iranians losing access to drinking water after two reservoirs were struck. Regional condemnation of Iran’s retaliatory action was swift: Egypt’s foreign ministry condemned the strikes “in the strongest terms,” while Qatar described them as a “flagrant breach of international law.” Energy forecasters warned oil prices will remain elevated through at least July, with Brent crude expected to average $105 per barrel, contradicting Trump’s repeated claims that prices will plunge once an Iran deal materializes.

Turkish President Recep Tayyip Erdogan condemned Israeli military actions in Syria and Lebanon, warning of regional consequences and accusing Israel of pursuing delusions about territorial expansion. Israeli Prime Minister Benjamin Netanyahu responded by attacking Erdogan as an “antisemitic dictator” and reaffirming Israel’s intent to continue military operations against Iran and its proxies. The competing regional dynamics underscore the complexity of achieving a sustainable agreement amid escalating tensions across multiple fronts.

ICE Detains 500+ Babies, Toddlers Under Trump

Since Trump’s return to office in January 2025, Immigration and Customs Enforcement has detained at least 500 babies and toddlers, with an average of 25 children aged 3 and under held in custody daily between January 2025 and March 2026. This represents a tenfold increase from the Biden administration, when fewer than three infants and toddlers were detained on an average day. The data comes from analysis by The Marshall Project and analysis of records obtained by the Deportation Data Project, a group of academics and lawyers tracking federal immigration detention.

Between Trump’s second inauguration and March 2026, ICE held at least 175 babies and toddlers for periods exceeding the federally mandated 20-day limit established by the 1997 Flores v. Reno settlement governing child detention conditions. During the final year of the Biden administration, no children aged 3 or younger were held beyond this 20-day threshold. Trump restarted family detention practices and reopened the Dilley Immigration Processing Center in Texas, the primary facility used to detain families with children, shortly after retaking office.

Parents report severe conditions inside facilities, including forced separation from spouses, inadequate nutrition, and substandard medical care. A 2-year-old named Kaleth stopped eating for 12 days after being separated from his father during incarceration; facility doctors attributed this to depression. A 1-year-old named Amir experienced developmental regression, stopped speaking beyond two words, and suffered from forced weaning off formula by facility staff. A 1-year-old named Amalia developed pneumonia, bronchitis, RSV, and COVID-19 while detained, with her oxygen levels dropping to dangerously low levels before she was transferred to an outside hospital. Parents described inadequate water quality, insufficient formula preparation water, lack of sleep aids, and all-night lighting that prevented children from sleeping.

Elora Mukherjee, a Columbia Law School professor who has represented more than 80 children and parents detained at Dilley in the past year, stated that nearly all recent clients complained about poor medical care. Marsha Griffin, a pediatrics professor and co-founder of the American Academy of Pediatrics’ Council on Immigrant Child and Family Health, described infancy and toddlerhood as “probably the most harmful time of their lives to have them in detention,” saying “our immigration system is breaking children.” Rahil Briggs, a psychologist at Zero to Three, noted that missed developmental windows in early childhood create cascading deficits that are harder to overcome later. A court filing from lawyers for detained children called ICE’s claims about facility conditions “fanciful.”

While some detained children including Kaleth, Amir, and Amalia have since been released and show signs of recovery, experts warn the long-term neurological and psychological damage from prolonged toxic stress and institutional abuse will persist across hundreds of infants and toddlers incarcerated during this period. Trump’s DHS has systematically removed safeguards that previously protected migrant children, creating conditions that developmental experts describe as profoundly damaging during the most critical window for human brain development.



(Source: https://www.ms.now/news/trump-ice-detention-dilley-kids-immigration)

Trump reportedly considers buying Chagos Islands from Mauritius | Donald Trump | The Guardian

Donald Trump is considering purchasing the Chagos Islands from Mauritius to secure US control of the Diego Garcia military base, according to the Telegraph. The proposal would circumvent UK officials by having the US negotiate directly with Mauritius after the islands are first ceded to Mauritian sovereignty, bypassing stalled British plans to transfer the territory. Trump Treasury Secretary Scott Bessent brought the plan to Trump, though it is not described as a leading option among proposals under consideration.

The US previously blocked legislation in April that would have handed the islands to Mauritius, effectively halting the UK’s sovereignty transfer plans. Some Trump administration officials oppose ceding the island to Mauritius due to concerns that China’s alliance with Mauritius could create espionage vulnerabilities. The White House declined to comment on the reported proposal to the Guardian.

The Diego Garcia base, located in the central Indian Ocean approximately 2,360 miles from Iran, houses a US airbase capable of deploying long-range missiles and has been a strategic asset for US-UK security for nearly 60 years. Since the US-Israel war with Iran began in late February, Iran has launched multiple strikes against the joint base, including one in late March that was intercepted by a US warship. In March, the UK authorized the US to launch missile strikes against Iranian targets from Diego Garcia, a decision Trump criticized as “very late.”

A delegation from the Chagos Refugees Group, visiting the UK last week, accused the British government of allowing the issue to be “hijacked within the halls” of UK politics and demanded the right to return to their birthplace. Louis Olivier Bancoult, the delegation leader, stated the government lacks genuine commitment to resolving the displacement of Chagossians, saying “We’re still suffering and our position is clear, we have the right to live in our birthplace.” The refugees expressed support for the UK to finalize an agreement on the islands’ future.

A UK government spokesperson asserted that maintaining operational control of Diego Garcia is essential to prevent adversaries from gaining strategic footing and that the UK-Mauritius agreement was designed to address long-term security risks both nations face. When asked whether the UK would proceed without US support, a government source confirmed: “We’ve always bee

(Source: https://www.theguardian.com/us-news/2026/jun/07/trump-deal-chagos-islands-mauritius-uk?utm_term=Autofeed&CMP=fb_us&utm_medium=Social&utm_source=Facebook&fbclid=IwdGRleAST2hBleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEeHcaW3WDWvK8WxGqhkbE9bFsD-8EJdB_Ez3Hb_ltxfL4i85NkOIwJTm_2HI0_aem_AfM_4giNmngx1uXos9_gaw#Echobox=1780860392)n clear we wouldn’t go ahead without US support,” effectively giving the Trump administration veto power over the islands’ sovereignty transfer.

Trump Claims Iran Deal 38 Times in Two Months

Trump has declared an Iran deal imminent 38 times over two months, according to CNN’s count reported by anchors Pamela Brown and Wolf Blitzer on Tuesday. CNN senior White House correspondent Kristen Holmes confirmed that Trump has made nearly identical claims of breakthrough negotiations “at least 37 times in the last two months since the ceasefire began,” with each declaration followed by escalation, stalled talks, or complete collapse of negotiations.

Trump’s latest claim came Monday night after an Iranian drone downed a U.S. Apache helicopter over the Strait of Hormuz, with both pilots rescued. Trump stated the two sides “agreed, through me, to stop” and claimed a “very, very good deal” excluding nuclear weapons could be signed “in two or three days,” while maintaining the U.S. blockade of the Strait would remain in place until a written agreement materialized.

Holmes noted the Iranian government has not commented on Trump’s remarks, and the pattern of claimed breakthroughs followed by escalation or collapse has repeated multiple times. She emphasized that Israeli military strikes on southern Lebanon, which Iran has warned could “blow the entire thing up,” remain a critical variable Trump says he discussed with Benjamin Netanyahu but has failed to prevent.

The reporting underscores a consistent pattern: Trump announces imminent deals without verified Iranian commitment, introduces new conditions, and then either faces renewed conflict or prolonged stalemate. Holmes stated the cycle has repeated so frequently that “it felt like we were saying it every single day,” exposing the disconnect between Trump’s public declarations of progress and the actual state of negotiations.



(Source: https://www.mediaite.com/media/news/cnn-counts-the-eye-popping-amount-of-times-trump-has-claimed-iran-deal-is-close/)

US Airstrikes Iran After Helicopter Downing

The U.S. military launched airstrikes against Iran on Tuesday at Trump’s direction following Iran’s downing of a U.S. Army Apache helicopter near the Strait of Hormuz on Monday. CENTCOM characterized the strikes as “self-defense operations” and described them as “a proportional response to unjustified Iranian aggression,” while both pilots were rescued safely within two hours by an unmanned surface vehicle in an operational first for the U.S. military.

Trump initially signaled support for military action, posting on Truth Social that the U.S. “must, of necessity, respond to this attack.” However, hours later in a phone call with the Wall Street Journal, Trump contradicted his own administration’s framing by minimizing the incident, calling the helicopter downing “wasn’t a big deal” and emphasizing that “the pilot is fine.”

Trump told the Journal he intended to maintain economic pressure on Iran through an existing blockade, describing it as making the country “very poor” and pledging to keep it in place indefinitely. This statement undercut the military’s formal characterization of the strikes as a measured response to a specific hostile act.

The incident occurs within an already fragile ceasefire framework between the U.S. and Iran, with regional observers monitoring whether the escalation signals a broader shift in U.S. military posture. Trump previously denied campaigning on ending wars, despite explicit 2024 promises to do so.

The conflicting messages from Trump regarding the severity of the incident and the rationale for military action create operational uncertainty about whether the strikes represent a proportional tactical response or serve as justification for sustained pressure on Iran. CENTCOM confirmed the helicopter incident remains under investigation.



(Source: https://www.mediaite.com/politics/us-iran-bombs-retaliation-apache-helicopter/)

Trump Files 52 Denaturalization Cases, Double Biden’s Four-Year Total

The Trump administration has filed 52 civil complaints to denaturalize naturalized citizens since taking office in 2025, more than double the 24 complaints filed during President Biden’s entire four-year term. The Justice Department announced Monday that it is moving to strip 17 naturalized individuals of their citizenship after they were convicted of crimes including sex offenses and drug dealing, framing the action as enforcing a “zero-tolerance policy” for what officials describe as abuse of the naturalization process.

To denaturalize a citizen not born in the U.S., the Justice Department must file a court notice and prove the individual misled the government by failing to disclose prior crimes during citizenship proceedings. Acting Attorney General Todd Blanche stated that “criminal aliens” who exploit naturalization by breaking the law face consequences, characterizing gaining U.S. citizenship as a privilege that can be forfeited through dishonesty in immigration proceedings. Department of Homeland Security Secretary Markwayne Mullin declared the administration would “use every lawful avenue to denaturalize and remove aliens” who he claimed have “exploited our generosity and gamed our immigration system.”

The acceleration in denaturalization cases reflects a significant shift in enforcement priorities, with the Trump administration pursuing citizenship revocation at a pace substantially exceeding the previous administration. The cases involve individuals convicted of crimes ranging from sexual offenses to drug trafficking, each requiring separate court filings and proof of fraud in the naturalization process. The administration has extended its focus toward people who have already become legal citizens, targeting those deemed to have misrepresented their backgrounds.

Officials have repeatedly warned that naturalized citizens who commit crimes could face denaturalization proceedings, establishing the administration’s intent to use citizenship status as a consequential penalty alongside criminal conviction. The Justice Department’s stated rationale emphasizes protecting American citizens from what it characterizes as criminals who obtained citizenship through deception, though the dramatic increase in filings signals an expanded interpretation of what constitutes grounds for revocation. The timeline for individual cases remains dependent on particular courts handling the denaturalization notices.(Source: https://abcnews.com/Politics/trump-moved-denaturalize-citizens-entire-biden-admin/story?id=133690815)

Brendan Carr slams fired CBS journalist Scott Pelley’s remarks

FCC Chair Brendan Carr attacked Scott Pelley, the veteran CBS News correspondent fired on June 5, 2026, after the journalist told the New York Times he had not anticipated his termination. Carr, speaking on social platform X, declared that Pelley was “completely out of touch” and claimed his surprise at being fired demonstrated why “trust in media is so low,” asserting that such conduct would be unacceptable “at any run of the mill job.”

Pelley’s firing followed his criticism of CBS News Editor-In-Chief Bari Weiss and Nick Bilton, the newly appointed “60 Minutes” executive producer, during a staff meeting, which he characterized as “contentious.” In his New York Times interview, Pelley said he entered a subsequent meeting with CBS News President Tom Cibrowski unprepared for dismissal. Cibrowski accused Pelley of “physically abusing” Bilton, a claim Pelley directly refuted, stating he “didn’t come within 10 feet of Nick Bilton” and had “never put my hands on anyone in anger.” When confronted with this alleged falsehood, Cibrowski reportedly retracted the accusation.

The firing is the latest in a series of personnel changes at “60 Minutes” since Weiss assumed leadership in October 2025 under new ownership by billionaire David Ellison’s Paramount Skydance. The company has signaled a shift toward serving a “more politically diverse viewership,” resulting in the removal of correspondents Sharyn Alfonsi and Cecilia Vega, along with executive producer Tanya Simon’s ouster and replacement by Bilton, a former New York Times technology columnist.

Carr’s statement functioned as a defense of the network’s institutional restructuring and a dismissal of Pelley’s accountability concerns, characterizing the veteran journalist’s bewilderment at his firing as evidence of journalist(Source: https://thehill.com/homenews/media/5914770-brendan-carr-scott-pelley-60-minutes/?fbclid=IwdGRleASUQAhleHRuA2FlbQIxMQBzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEeuSL0Cs4wCqbIX9EWfk851cFPqQr5WMnkng8F7B16OTTquAhGxDWCkJrmUX4_aem_LnBMYRKVkTLyTe5ehnZC2A)ic detachment rather than addressing substantive questions about the decision-making process itself.

Trump Demands Thune Fire Parliamentarian Blocking Funds

President Donald Trump attacked Senate Majority Leader John Thune on Truth Social Monday, demanding he fire Senate Parliamentarian Elizabeth MacDonough and accusing her of treating Republicans “horribly” while favoring Democrats. Trump’s post also targeted Senator Mitch McConnell, describing him as “very disloyal” to Thune and claiming McConnell allowed MacDonough to remain in her position to direct “trillions of dollars to the Democrats.” Trump has rarely attacked McConnell during his second term, making this public strike notable.

MacDonough blocked $1 billion in taxpayer funding for Trump’s ballroom project from a budget reconciliation bill, determining it violated the Byrd Rule prohibiting non-budgetary items from passing with a simple majority vote. Trump framed her ruling as evidence of bias, claiming she would have approved the proposal “easily” and that her continued tenure prevents passage of his “SAVE AMERICA ACT.” Trump previously demanded Thune fire MacDonough after she blocked the ballroom funds, threatening Republicans they would be “looking for a job much sooner than you thought possible” if they refused.

McConnell recently contradicted Trump by denouncing his anti-weaponization fund as “morally wrong,” directly criticizing acting Attorney General Todd Blanche for requesting a “slush fund to pay people who assault cops.” McConnell, who announced last year he would not seek reelection, has positioned himself as an occasional check on Trump’s most extreme demands, though he served as Senate leader while MacDonough worked under Democratic leadership and Trump has repeatedly pressured Republicans to remove her.

The demands to remove MacDonough represent Trump’s ongoing pressure on Republican leadership to eliminate institutional guardrails protecting the budget process. MacDonough, appointed during the Obama administration, has functioned as an independent arbiter applying the Byrd Rule to both parties’ proposals. Trump’s insistence that she be replaced with someone “favorable to his agenda” directly attacks the parliamentary independence designed to maintain legislative integrity.

Government watchdog reports show donors to Trump’s ballroom project secured over $50 billion in new or expanded federal contracts within six months, demonstrating the scale of personal enrichment at stake in removing budget constraints. Trump’s personal financial interest in the ballroom funding conflicts directly with his authority over federal spending, yet he demands loyalty from Senate Republicans to override parliamentary safeguards that prevent his self-dealing.(Source: https://www.mediaite.com/media/news/trump-takes-a-swing-at-mitch-mcconnell-in-fiery-call-for-gop-to-fire-senate-parliamentarian/)

1 2 3 … 365