latest news in economy
Treasury Secretary Refuses to Rule Out Potential Lawsuit Against Fed Nominee
Washington D.C., Friday, 6 February 2026.
Challenging central bank independence, Secretary Bessent explicitly declined to protect nominee Kevin Warsh from potential White House lawsuits, stating such legal action remains “up to the president.”
Investors Shift to Defensive Stocks as Tech Sector Stumbles Before Earnings
New York, Wednesday, 4 February 2026.
Wall Street sees a sharp rotation into defensive stocks. The tech sector faces pressure after Anthropic’s new AI tool sparked a selloff, leaving investors anxious ahead of Alphabet’s report.
Treasury Secretary Rules Out Crypto Bailouts During Contentious Financial Stability Hearing
Washington, Wednesday, 4 February 2026.
Bessent explicitly rejected using taxpayer funds to “bail out Bitcoin,” clarifying the Treasury’s stance during a volatile hearing dominated by fierce debates over inflation and executive conflicts of interest.
Washington Revives 1980s Tax Strategies for Manufacturers
Washington, Wednesday, 4 February 2026.
Policymakers are returning to Reagan-era supply-side economics, prioritizing manufacturing tax breaks and deregulation to stimulate growth. This strategic pivot includes a massive $12 billion initiative to stockpile critical minerals, betting on market self-correction to secure economic resilience against global competitors.
Mortgage Delinquencies Accelerate Faster Than Other Consumer Debt
New York, Wednesday, 4 February 2026.
As of February 2026, a significant shift in consumer credit dynamics has emerged: the growth rate of late-stage mortgage delinquencies is now outpacing that of auto loans and credit cards. Data from December 2025 highlights an 18.6% year-over-year increase in severe delinquencies, signaling that the housing affordability crisis has migrated from prospective buyers to existing homeowners. This trend challenges the assumption that homeowners are insulated from economic stress, suggesting that rising non-mortgage costs—such as insurance and property taxes—are eroding household stability even among those with fixed-rate loans.
Bipartisan Coalition Warns Congress of Potential US Agriculture Collapse
Washington D.C., Wednesday, 4 February 2026.
On February 3, 2026, a historic coalition of 27 former agricultural leaders delivered a chilling ultimatum to Congress: the American farming sector is on the brink of widespread collapse. This bipartisan group, including officials from the Reagan and Bush administrations, contends that the industry is buckling under a ‘chaotic set of policy circumstances’ rather than standard market pressures. The warning identifies a toxic convergence of aggressive tariffs, the defunding of critical research, and labor shortages intensified by recent immigration crackdowns like ‘Operation Metro Surge.’ Perhaps most alarming is the assertion that these systemic fractures now pose an existential threat to the national food supply chain. This intervention serves as a critical indicator that the rural economy has moved beyond cyclical downturns into a state of structural emergency, requiring immediate legislative action to prevent a catastrophic market failure.
Josh Harris Cautions Private Equity Push into Retail Savings May Backfire
New York, Thursday, 5 February 2026.
Describing retail wealth as the “last big pocket of capital,” Harris warns that rushing everyday savers into illiquid private market structures creates dangerous risks that likely won’t end well.