The stock market is up modestly since Donald Trump’s election victory on November 5th but it has been a particularly profitable period for Elon Musk, whose net worth has grown by an astounding $276 billion during that period, to $479 billion. That makes him the wealthiest American by a wide margin and probably the wealthiest […]

As expected, the Federal Reserve cut interest rates again, this time by 0.25%. What was more notable was that the central bank signaled that it only expects to cut rates twice next year, rather than the four reductions that it had previously predicted. The stock market, which had been anticipating a smaller change in the […]

President-elect Donald Trump will ring the opening bell at the New York Stock Exchange today, a visible symbol of both Trump’s focus on the importance of rising share prices as well as the remarkable performance of the market, particularly over the past two years. But higher stock prices don’t benefit all Americans and the gap […]

President-elect Trump has tapped Elon Musk and Vivek Ramaswamy to lead the new Department of Government Efficiency (DOGE), with the goal of cutting $2 trillion from the federal budget. (While none of the protagonists have been specific, they appear to be suggesting that the $2 trillion would be annual reductions, not cumulative savings over a […]