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Category: Economy
July 7, 2025
Economy
Politics

Tesla Shares Tanked After Musk’s ‘America Party’ Announcement.

PULSE POINTS

❓WHAT HAPPENED: Tesla’s stock price dropped seven percent after Elon Musk announced the formation of a new political party, the “America Party.”

👤WHO WAS INVOLVED: Elon Musk, President Donald J. Trump, and Tesla investors.

📍WHEN & WHERE: Announcement made over the weekend of July 4; stock slump occurred during Monday morning trading.

💬KEY QUOTE: “Today, the America Party is formed to give you back your freedom.” – Elon Musk

🎯IMPACT: Tesla’s stock decline and potential investor concerns over Musk’s political involvement.

IN FULL

Tesla’s stock price fell seven percent to $293 per share in morning trading on Monday, following Elon Musk‘s announcement over the weekend that he has formed a new political party named the “America Party.” The announcement came after Musk’s public split with President Donald J. Trump over the recently signed “One Big Beautiful Bill,” which increases immigration enforcement and cuts taxes for workers.

Musk, in a July 5 post on X, stated: “Today, the America Party is formed to give you back your freedom.” He also hinted that his party would focus on influencing a small number of key Senate and House races. President Trump responded on Truth Social, calling Musk a “TRAIN WRECK” and accusing him of going “completely off the rails.” Musk has not yet disclosed specific steps taken to formalize the party, a process that would involve navigating state and federal regulations.

The announcement has raised concerns among Tesla investors. Notably, James Fishback, a former top Department of Government Efficiency (DOGE) staffer and technology investor, announced his firm would be pulling its support for Musk and Tesla, citing the billionaire’s political aspirations as potentially hurting Tesla’s business prospects. “Elon left us with no other choice,” Fishback said over the weekend.

Tesla was already facing significant market challenges, with sales of its electric vehicles dropping more than 13 percent from April to June compared to the same period last year. In Europe, sales fell by nearly 50 percent in April, even as the overall electric vehicle market grew.

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July 3, 2025
Economy
News

Trump Economy Beats Jobs Expectations for Fourth Straight Month.

PULSE POINTS

❓WHAT HAPPENED: U.S. employers added 147,000 jobs in June, while unemployment dropped to 4.1 percent.

👤WHO WAS INVOLVED: The U.S. Labor Department, Federal Reserve, and employers and workers across various sectors.

📍WHEN & WHERE: Report released July 2025, covering the jobs situation across the United States.

💬KEY QUOTE: “BOOM: The U.S. economy added 147,000 jobs in June—beating expectations for the FOURTH straight month!” — Trump War Room.

🎯IMPACT: The Trump economy’s continued strength undermines claims that the President’s tariff policies are harmful—but may end up being used as an excuse to avoid cutting interest rates regardless.

IN FULL

American employers continued to hire at a steady pace in June, adding 147,000 jobs, according to a Labor Department report released Thursday. Additionally, job gains for April and May were revised upward by a total of 16,000 jobs. The unemployment rate dropped to 4.1 percent from 4.2 percent in May.

Job growth was primarily concentrated in the healthcare sector and state and local government. However, the federal government reduced its workforce by 7,000 jobs in June.

Federal Reserve Chairman Jerome Powell, who has been at odds with President Donald J. Trump over his refusal to cut interest rates, addressed the labor market during a central bankers’ panel in Portugal on Tuesday. “We watch very carefully for signs of unexpected weakness,” Powell said.

The central bank chief and other establishment economic thinkers have long suggested that President Trump’s tariff policies, intended to protect American workers from unfair competition, are poised to reignite inflation and cause job losses, but, months on, there remain few indications that this is happening.

Powell indicated that the Fed expects to lower its benchmark interest rate later this year, though the Trump economy’s consistent job gains may end up being used as an excuse not to cut.

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July 1, 2025
Economy

Media Concedes: Trump’s Tariffs Boost Government Revenue and Don’t Hurt Consumers.

PULSE POINTS

❓WHAT HAPPENED: Despite corporate media claims, President Donald J. Trump’s tariff policies appear to be working as the White House has stated, increasing government tax revenue with minimal impact on domestic consumer prices.

👤WHO WAS INVOLVED: President Trump, U.S. corporations, foreign producers, American consumers,  conservatives, and critics of the administration’s tariff policies.

📍WHEN & WHERE: Ongoing debate in 2025, with tariffs implemented in February and April.

🎯IMPACT: Tariffs have generated over $121 billion in revenue without increasing consumer prices, challenging critics’ negative predictions.

IN FULL

The corporate media is being forced to admit that President Donald J. Trump’s tariff policies are working, with the U.S. collecting over $121 billion in tariff revenue, little evidence that the trade duties are impacting domestic consumers, and inflation continuing to cool. For weeks leading up to the April 2 ‘Liberation Day’ tariffs, so-called experts insisted that Trump’s imposition of import levies would reignite inflation. However, as The National Pulse has repeatedly pointed out, tariffs have traditionally had deflationary effects, and under Trump, inflation has continued to cool.

Contrary to establishment predictions, consumer prices have not risen, leaving opponents scrambling to explain the data. Some still forecast a belated economic disaster, while others acknowledge the potential for tariffs to help pay down the national debt over time. Misconceptions about tariffs persist, with many believing they are a tax on foreign producers.

In reality, tariffs are taxes on companies sourcing goods internationally from targeted nations. These companies face a choice: adapt by sourcing from the U.S. or non-targeted countries to keep costs low, or find alternative ways to absorb the expenses. Raising prices is often a last resort, as consumers can easily cut back on non-essential goods.

Critics, including some Democrats and conservatives, had predicted sharp price increases as corporations passed tariff costs onto consumers. However, inflation data, such as the Federal Reserve’s preferred inflation gauge and the Consumer Price Index (CPI), has remained relatively stable, contradicting these forecasts. Some attribute this to “front-loading” of imports before tariffs took effect, but that explanation fails to account for sustained stability months after implementation.

At the current pace, tariffs could generate approximately $300 billion in revenue by year-end and $1.2 trillion over four years. While this revenue won’t offset all debt spending, it provides an alternative to tax hikes on the public. If inflation concerns remain overstated, tariffs could become a long-term strategy for economic growth and debt reduction.

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June 30, 2025
Economy
News

Canada Caves, Resumes Trade Negotiations With Trump Admin.

PULSE POINTS

❓WHAT HAPPENED: Canada has paused its digital services tax following President Donald J. Trump’s decision to end trade negotiations over the levy.

👤WHO WAS INVOLVED: Canadian Prime Minister Mark Carney, President Donald J. Trump, and former U.S. Trade Representative Katherine Tai.

📍WHEN & WHERE: The announcement was made on Sunday evening following a G7 Leaders’ Summit in Kananaskis.

💬KEY QUOTE: “Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress,” said François-Philippe Champagne.

🎯IMPACT: The decision aims to facilitate trade negotiations and address concerns over the tax’s compliance with international agreements.

IN FULL

Canada has decided to pause the implementation of its digital services tax, which imposes a three percent levy on revenue generated in the country by large tech companies, including America’s Google, Meta, and Amazon. The tax, enacted last year, was set to take effect at the end of this month.

The decision follows President Donald J. Trump’s announcement on Friday that the United States would end trade negotiations with Canada over the levy. Trump described the tax as “a direct and blatant attack on our country” and threatened new tariffs in response.

Canadian Prime Minister Mark Carney stated, “Today’s announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month’s G7 Leaders’ Summit in Kananaskis.”

The former Biden regime also opposed the tax, with former U.S. Trade Representative Katherine Tai calling it “discriminatory” and suggesting it may violate the USMCA trade agreement. Carney’s government has now announced plans to introduce legislation to rescind the tax, noting their preference for a multilateral agreement to address tax issues with tech firms.

François-Philippe Champagne, Canada’s minister of finance and national revenue, emphasized that removing the tax would allow progress in negotiations with the United States, create jobs, and boost Canadian prosperity. “Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress,” he said.

The move would be just the latest undoing of some of the taxes former Prime Minister Justin Trudeau created. Carney, shortly after becoming Prime Minister earlier this year, scrapped Trudeau’s unpopular carbon tax, something conservatives had demanded for years.

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June 25, 2025
Economy
News

The Electric Vehicle Market Is Booming — But Not for Musk’s Tesla.

PULSE POINTS

❓WHAT HAPPENED: Tesla’s sales in Europe have dropped for five consecutive months, even as overall electric vehicle (EV) sales in the region have increased.

👤WHO WAS INVOLVED: Tesla, Elon Musk, European and Chinese EV manufacturers, and AJ Bell investment director Russ Mould.

📍WHEN & WHERE: The sales decline occurred over the past five months in the European Union (EU) and United Kingdom.

💬KEY QUOTE: “Musk’s outspokenness is becoming a liability for Tesla shareholders.” – Russ Mould.

🎯IMPACT: Tesla’s European market share has fallen to 1.2 percent, and its stock has experienced significant volatility due to various factors, including Elon Musk’s public statements.

IN FULL

Tesla has experienced a significant decline in sales across Europe, marking five consecutive months of falling numbers. This comes despite an overall increase in electric vehicle (EV) sales in the region, which rose by 27.2 percent during the same period.

The company saw a 27.9 percent year-on-year drop in sales through May, reducing its market share in Europe to just 1.2 percent. Analysts point to an ageing model range and rising competition from European and Chinese manufacturers as key factors. Tesla released a revamped Model Y in March to address these challenges.

Additionally, protests against owner Elon Musk have been held globally, with some Tesla owners selling their vehicles. Footage of Tesla’s driverless vehicles reportedly operating erratically has also drawn scrutiny from a U.S. safety body. Investment director Russ Mould stated, “Musk’s outspokenness is becoming a liability for Tesla shareholders.”

Elon Musk’s public exchanges have contributed to Tesla’s stock volatility. A social media dispute with President Donald J. Trump in June led to a $99 billion loss in Tesla’s market cap in a single day. Musk later expressed regret over some of his comments.

The news is just the latest blow for Musk, who also saw a major failure in his company SpaceX recently, when the company’s Starship spacecraft exploded in Texas.

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June 24, 2025
William Upton
Economy
Politics

Fed Civil War as Even Democrats Push Powell to Cut Rates.

PULSE POINTS

❓WHAT HAPPENED: Federal Reserve Chairman Jerome Powell faced bipartisan pressure from House Democrats and House Republicans to begin cutting interest rates during a Tuesday hearing on Capitol Hill.

👤WHO WAS INVOLVED: Democrat and Republican members of the House Financial Services Committee, Federal Reserve Chairman Jerome Powell, President Donald J. Trump, and Federal Reserve Board of Governors members Christopher Waller and Michelle Bowman.

📍WHEN & WHERE: Powell testified before the House Financial Services Committee on Tuesday, June 24, 2025.

💬KEY QUOTE: “From our side, we’d love to see the rates go down,” said Congressman Juan Vargas (D-CA), adding: “I know a number of my colleagues on the other side would love to see the rates go down. I think it’s pretty unanimous.”

🎯IMPACT: With President Trump, GOP and Democrat lawmakers, and Federal Reserve governors increasingly opposed to Powell’s refusal to cut rates, he may be forced to begin climbing down from his position.

IN FULL

Federal Reserve Chairman Jerome Powell is facing mounting pressure both internally at the central bank and externally from the White House and a bipartisan coalition of lawmakers on Capitol Hill to begin reducing U.S. interest rates. Appearing before Congress on Tuesday, Powell was peppered by House Republicans and Democrats alike to explain his reasoning for not moving to reduce the cost of borrowing.

“From our side, we’d love to see the rates go down,” Congressman Juan Vargas (D-CA) told the Fed chairman during a House Financial Services Committee hearing on Tuesday. The California Democrat added: “I know a number of my colleagues on the other side would love to see the rates go down. I think it’s pretty unanimous.”

Just before the hearing, President Donald J. Trump urged lawmakers to grill Powell, posting on Truth Social: “I hope Congress really works this very dumb, hardheaded person, over.”

The bipartisan pressure faced by Powell was compounded in recent days, which saw two members of the Federal Reserve’s Board of Governors, who sit on the rate-setting Federal Open Market Committee (FOMC), announce their support for the central bank to begin cutting rates in July. On Friday, Federal Reserve Governor Christopher Waller acknowledged that fears over President Trump’s tariffs reigniting inflation were overblown. “I think we’re in the position that we could do this as early as July,” Waller stated, adding: “That would be my view, whether the committee would go along with it or not.”

Waller was joined on Monday by his fellow Fed governor and FOMC member, Michelle Bowman, who echoed her colleague. “It is likely that the impact of tariffs on inflation may take longer, be more delayed, and have a smaller effect than initially expected,” Bowman said in a speech at a research conference in Prague. She added: “Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting.”

Despite increasing internal and external pressure on Powell to slash rates, the Federal Reserve chairman remains obstinate. “As long as the economy’s strong, we can take a little bit of a pause,” Powell told House lawmakers in response to their push for a July rate cut. While the central bank chief acknowledged that the hard data suggests he should have continued reducing rates after the Fed’s last cut in December, Powell—repeating a mantra he has stated for months—insisted: “The difference, of course, is at this time, all forecasters are expecting pretty soon, that some significant inflation will show up from tariffs.”

However, there has been no evidence of a resurgence of inflation due to the tariffs imposed by the Trump White House. In fact, as Trump’s Treasury Secretary Scott Bessent has noted, the tariffs may actually be having a deflationary effect, which should—under normal circumstances—spur the Federal Reserve to reduce interest rates.

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June 23, 2025
William Upton
Economy
Health

ICYMI: Trump DOJ Scores Historic Win for Workers in Antitrust Case.

PULSE POINTS

❓WHAT HAPPENED: President Donald J. Trump’s Justice Department secured a landmark criminal antitrust conviction against a home healthcare staffing executive for orchestrating a wage-fixing scheme aimed at suppressing the wages of home healthcare nurses in the Las Vegas area.

👤WHO WAS INVOLVED: The Department of Justice (DOJ) Antitrust Division, Assistant Attorney General Abigail A. Slater, federal prosecutors, defendant Eduardo “Eddie” Lopez, Las Vegas area home healthcare companies, and home healthcare nurses.

📍WHEN & WHERE: The criminal conviction was issued in April 2025.

💬KEY QUOTE: “Wage-fixing agreements are nakedly unlawful attempts at unjustly profiting off American workers.” — Assistant Attorney General Abigail A. Slater.

🎯IMPACT: The jury verdict marks the first successful criminal conviction against individuals accused of wage-fixing and labor market collusion.

IN FULL
The United States Department of Justice (DOJ) secured a historic antitrust jury verdict against a home healthcare executive over a wage-fixing scheme in violation of the Sherman Antitrust Act. In April this year, federal prosecutors secured the criminal conviction of Eduardo “Eddie” Lopez—a home healthcare staffing executive who served with three separate home healthcare agencies—for conspiring with a number of healthcare staffing agencies to suppress the wages of home health nurses in the Las Vegas area and defrauding buyers of his staffing services by concealing the ongoing federal antitrust investigation against him.
Notably, the case marks a significant legal landmark for the DOJ, affirming its legal authority to pursue criminal charges against individuals accused of wage-fixing and labor market collusion. Prior attempts at criminal prosecution on similar charges had failed to secure a conviction.
At trial, DOJ prosecutors revealed that Lopez had orchestrated, between 2016 and 2019, a wage-fixing conspiracy aimed at artificially suppressing the wages of home health nurses in the Las Vegas area. The scheme saw Lopez and several other home healthcare executives enter into a covert agreement to set the hourly wages for nurses, insulating their companies from labor market forces. Federal prosecutors successfully argued that the wage-fixing scheme was akin to price-fixing in labor markets and that each incidence of wage suppression should be treated as per se violations of Section 1 of the Sherman Antitrust Act.
Lopez’s communications with the executives of other area home healthcare agencies proved pivotal. In one message shown to jurors, Lopez wrote to an executive at an ostensibly competing agency, “We all have a mutual agreement that with the pay increase, all 3 companies will stay within the same hourly rate.” The April verdict saw Lopez convicted on five criminal counts, including one antitrust charge and four wire fraud charges.
Assistant Attorney General Abigail A. Slater, who leads the DOJ’s Antitrust Division, praised the conviction: “Wage-fixing agreements are nakedly unlawful attempts at unjustly profiting off American workers.” She added that the “verdict highlights what should be a clear message with antitrust crimes: the agreement is the crime. The Antitrust Division will zealously prosecute those who seek to unjustly profit off their employees. The nurses here deserved better and, under President Trump’s leadership, they will be protected.”
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June 20, 2025
Economy

Even the Fed’s Top Inflation Hawk Is Now Calling for Rate Cuts… in July!

PULSE POINTS

❓WHAT HAPPENED: Federal Reserve Governor Christopher Waller suggested that interest rates could be lowered as early as next month due to reduced inflationary concerns and the possibility of a slowdown in the U.S. job market.

👤WHO WAS INVOLVED: Federal Reserve Governor Christopher Waller, Federal Reserve Chairman Jerome Powell, the Federal Open Market Committee (FOMC), and President Donald J. Trump.

📍WHEN & WHERE: Comments made during a CNBC interview on June 20, 2025, following the FOMC’s Wednesday rate announcement.

💬KEY QUOTE: “Why do we want to wait until we actually see a crash before we start cutting rates?” – Christopher Waller.

🎯IMPACT: The Federal Reserve remains divided on the timing of rate cuts, with President Trump clashing with Chairman Powell over his refusal to cut rates.

IN FULL

Federal Reserve Governor Christopher Waller stated on Friday that he believes interest rate cuts could begin as early as next month, citing diminished inflation concerns. Waller emphasized the need to act proactively to avoid a potential downturn in the labor market.

“I think we’re in the position that we could do this and as early as July,” Waller said during the interview on Friday. He added, “Why do we want to wait until we actually see a crash before we start cutting rates?” His remarks come after the Federal Open Market Committee (FOMC), the internal body within the Federal Reserve that sets interest rates, unanimously voted to hold its key interest rate steady, marking the fourth consecutive hold since the last rate cut in December.

President Donald J. Trump, who nominated Waller as a governor during his first term, has consistently called for significant rate cuts to ease borrowing costs on the national debt, which stands at $36 trillion. Trump has suggested that the benchmark rate should be at least two percentage points and possibly even 2.5 percentage points below the current level of 4.33 percent (an average of the rate range of 4.25 to 4.5 percent). Waller’s shift on rates is unusual, as the 66-year-old economist has for some time been seen as one of the central bank’s more ardent inflation hawks.

Despite Waller’s advocacy for rate cuts, the FOMC remains divided. According to the “dot plot” of individual officials’ expectations, seven out of 19 participants expect rates to remain steady this year, while the others foresee one to three cuts. Fed Chairman Jerome Powell has maintained a wait-and-see approach, citing claims Trump’s tariffs will increase inflation, but the labor market is holding steady and inflation remains under control.

Waller argued for gradual cuts to minimize unforeseen issues. “You’d want to start slow and bring them down, just to make sure that there’s no big surprises. But start the process. That’s the key thing,” he said. Futures market pricing indicates little expectation of a rate cut at the upcoming July meeting, with the next move anticipated in September.

Image by Rafael Saldana.

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June 19, 2025
Economy
War

Iran Is Poised to Shut a Vital Shipping Route, Here’s What That Could Mean:

PULSE POINTS

❓WHAT HAPPENED: Iran has warned it may shut the Strait of Hormuz, a vital oil transit route, if the U.S. intervenes in its conflict with Israel.

👤WHO WAS INVOLVED: Senior Iranian officials, including Ali Yazdikhah and Behnam Saeedi, along with U.S. President Donald J. Trump and Iranian Supreme Leader Ali Khamenei.

📍WHEN & WHERE: Statements were made on Wednesday and Thursday, with escalating tensions in the Middle East and discussions in Washington, D.C., and Geneva.

💬KEY QUOTE: “If the United States officially and operationally enters the war in support of the Zionists, it is the legitimate right of Iran to disrupt their oil trade’s ease of transit.” – Ali Yazdikhah, a senior Iranian lawmaker.

🎯IMPACT: A closure of the Strait of Hormuz could disrupt global oil markets, prompt a strong military response from regional powers like Saudi Arabia, and escalate the conflict further.

IN FULL

Iran has threatened to close the Strait of Hormuz, a key chokepoint for global oil transit, if the United States becomes directly involved in its conflict with Israel. Ali Yazdikhah, a senior Iranian lawmaker, stated, “If the United States officially and operationally enters the war in support of the Zionists, it is the legitimate right of Iran to disrupt their oil trade’s ease of transit.”

Behnam Saeedi, a member of Iran’s National Security Committee presidium, echoed this, saying that closing the strait is “one of the potential options.” The remarks come as tensions rise in the region, with U.S. President Donald J. Trump weighing the possibility of military strikes on Iran’s nuclear facilities.

The Strait of Hormuz is a critical maritime passage that handles approximately 26 percent of the world’s oil trade. The International Energy Agency (IEA) has warned that any disruption to the flow of oil through the strait would have significant consequences for global markets. Historically, Iran has demonstrated its capacity to threaten shipping in the strait, using tactics such as deploying mines and targeting oil tankers during the Iran-Iraq War. Notably, if Iran were to deploy a significant number of mines in the strait’s waters, it could effectively close the passage to ships for the foreseeable future.

Recent satellite photos and shipping analysis indicate that Iran is rapidly moving to fill its oil tanker fleet and disperse it well outside the Persian Gulf and into the open ocean. A bulk of the shipping traffic moving through the Strait of Hormuz in recent days is attributed to the Iranian oil tanker fleet departing the country’s primary petroleum storage hub, Kharg Island. Consequently, satellite images of Kharg Island show its oil storage containers all to be near capacity, suggesting Iran intends to fill and disperse as many tanker ships in its fleet as possible before it makes a possible move to mine the waters of the strait.

During Thursday’s White House press briefing, Press Secretary Karoline Leavitt read a statement from President Trump, laying out a timeline for potential U.S. action: “Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks.”  Meanwhile, Iranian Supreme Leader Ayatollah Ali Khamenei warned late Wednesday, “The Americans should know that any U.S. military intervention will undoubtedly be accompanied by irreparable damage.”

Diplomatic efforts remain ongoing, with Germany, France, and Britain set to meet Iranian officials in Geneva on Friday for nuclear talks.

Image via Tasnim News Agency.

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June 19, 2025
Economy
Politics

Trump Is Pushing the House to Pass This Senate Crypto Bill, Fast.

PULSE POINTS

❓WHAT HAPPENED: The Senate passed the GENIUS Act in a 68-30 vote, aiming to position the U.S. as a leader in digital assets.

👤WHO WAS INVOLVED: President Donald J. Trump, the U.S. Senate, and the House of Representatives.

📍WHEN & WHERE: Senate approved the bill on Tuesday, with Trump urging the House to act on Wednesday.

💬KEY QUOTE: “The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS!” – Donald Trump.

🎯IMPACT: The GENIUS Act could establish the U.S. as a global leader in crypto and digital asset innovation.

IN FULL

President Donald J. Trump late Wednesday urged the House to speedily pass the Senate’s GENIUS Act, arguing it would propel the United States to become the world’s leader on crypto and digital assets. The upper chamber approved the legislation in a 68-30 vote on Tuesday.

The bill would enact new federal guidelines for stablecoins and create a framework for private companies to issue digital dollars. “The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS! Digital Assets are the future, and our Nation is going to own it,” President Trump wrote on Truth Social.

“We are talking about MASSIVE Investment, and Big Innovation. The House will hopefully move LIGHTNING FAST, and pass a ‘clean’ GENIUS Act,” he continued, adding: “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS. This is American Brilliance at its best, and we are going to show the World how to WIN with Digital Assets like never before!”

Trump’s Treasury Secretary, Scott Bessent, has lauded the bill, stating that “stablecoins could grow into a $3.7 trillion market by the end of the decade.”

“A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back stablecoins,” Bessent wrote in a post on X (formerly Twitter), adding: “This newfound demand could lower government borrowing costs and help rein in the national debt.”

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