Trump’s cuts will continue to wipe out the US government, and even pennies will spare
February 10, 2025, in this photo illustration in Washington, DC, we can see our penny roll.
Saul Roeve | AFP | Getty Images
With just over three weeks left for US President Donald Trump’s second term, the gusts of the announcement from the White House show no signs of waning.
The administration is set to suspend enforcement of foreign corrupt practices laws, President Trump has removed director of the Government Ethics Office, and even a humble penny (has breathtaking!) cannot escape, Trump has produced penny It’s stopped.
For investors, the dismantling of ethical regulations will undoubtedly raise doubt. How do US companies behave now, especially in markets where corruption is becoming more rampant? More brown envelopes slide under the table. Will the rule of law be replaced by the amount of business raised by the company?
There are no straight answers to these questions, but we hope to hear two cents of experts and economists in the coming days.
Well, at least when Penny is still around.
– Lim Hui Jie
Things you need to know today
Altman rejects $97.4 billion offer to Openai by Musk-led investors
Tesla CEO Elon Musk teeth Leading a group of investors CNBC has confirmed it is offering to buy Openai’s control for $97.4 billion. The offer is for nonprofits that oversee the artificial intelligence startups behind ChatGPT. However, Openai CEO Sam Altman wrote in a I’ll post it on x“I don’t thank you, but I’ll buy Twitter for $9.74 billion if necessary.” Musk then calls him to X’s Openry Chief.con man.“
Steel inventory will skyrocket due to Trump’s tariffs
Steel and Aluminum Stocks It surged on Monday after the US president Donald Trump I said According to JPMorgan, he will place a 25% duties on all imports of all metals into the United States on all imports of metals. Banks expect domestic production of aluminum to increase as a result of tariffs.
Trump suspends enforcement of foreign corrupt practices laws
Trump is like that Set to sign the executive order Instructions Ministry of Justice A suspension to enforce almost half-century laws that prohibit American and foreign companies from bribeing foreign government officials from acquiring or retaining business. Pause Criminal prosecution It is implemented to avoid putting US companies at economic disadvantage against foreign competitors.
Markets curb tariff fear
US stocks rose on Monday, carrying major tech names, as traders looked past the latest US tariff threat from the president Donald Trump. Dow Jones Industrial Average Added 0.38% and led to a gain of 4.8% McDonald’s. S&P 500 0.67% Nasdaq Composite It reached 0.98%. European stocks have been closed at record highs along with pan-Europeans Stoxx 600 It’s up 0.58% at a record high of 545.92 points, with all sectors in the green.
(professional)
Traders reduce expectations of low rates
Investors are lower their expectations They are even more concerned about tariffs and the impact they may have on inflation, so they are more concerned about interest rate cuts from the Fed this year. Economists warn that a wide range of trade wars could raise prices significantly, and consumers also appear to be worried. Conclusion
And finally…
Penny will be on display at Glenview Coin & Collectibles on July 6, 2006 in Glenview, Illinois.
Tim Boyle | Getty Images News | Getty Images
What does Penny End Mean for the Economy, your Piggy Bank, and American Price Items?
President Donald Trump ordered the Treasury Department Stop building new pennies, This could affect prices, cash consumers, and these coins still under the couch cushion.
Experts predict the impact on mild inflation, as more prices are rounded to the nearest five cents. People at the bottom of the economic ladder will probably feel Penny is in the most pinch, as they don’t have banks or have no access to debit, credit cards or digital wallets.