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NYC Erases $12 Billion Deficit Without Property Tax Hikes Thanks to State Aid

NYC Erases $12 Billion Deficit Without Property Tax Hikes Thanks to State Aid

New York City, Tuesday, 12 May 2026.
Mayor Zohran Mamdani successfully closed NYC’s massive $12 billion deficit without raising property taxes, relying instead on a $4 billion state infusion and a new luxury home tax.

Historic 2026 Super El Niño Forecast Signals Major Disruptions for US Economy

Historic 2026 Super El Niño Forecast Signals Major Disruptions for US Economy

Washington D.C., Tuesday, 12 May 2026.
A rapidly developing Super El Niño, potentially the strongest in modern history, threatens US supply chains and agriculture in late 2026, demanding immediate risk management from business leaders.

Nobel Laureate Warns Artificial Intelligence is Accelerating Global Disinformation

Nobel Laureate Warns Artificial Intelligence is Accelerating Global Disinformation

Canberra, Tuesday, 12 May 2026.
A Nobel laureate’s May 2026 economic model reveals AI-driven disinformation is a top national security threat, as unregulated digital platforms prioritize profitable sensationalism over factual accuracy.

Jerome Powell Steps Down as Fed Chair but Breaks a 75-Year Precedent to Stay on the Board

Jerome Powell Steps Down as Fed Chair but Breaks a 75-Year Precedent to Stay on the Board

Washington, Monday, 11 May 2026.
Exiting Federal Reserve Chair Jerome Powell is breaking 75 years of precedent by remaining on the board of governors to safeguard the central bank’s independence against political pressure.

Surging Energy Costs Set the Stage for Tuesday's Critical Inflation Report

Surging Energy Costs Set the Stage for Tuesday's Critical Inflation Report

Washington D.C., Monday, 11 May 2026.
As global energy shocks push April’s expected inflation to 3.7%, futures traders are now betting against any Federal Reserve interest rate cuts for the entirety of 2026.