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Tag: Economy

  • ‘We want it back’: Trump asserts U.S. claims to Venezuelan oil and land

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    President Trump’s order of a partial blockade on oil tankers going to and from Venezuela and his claim that Caracas stole “oil, land other assets” from the United States mark a significant escalation of Washington’s unrelenting campaign against the government of President Nicolás Maduro.

    Asked about Venezuela on Wednesday, Trump said the United States will be “getting land, oil rights and whatever we had.”

    “We want it back,” he said without further elaboration. It was unclear whether Trump planned to say more about Venezuela in a televised address to the nation late Wednesday night.

    The blockade, which aims to cripple the key component of Venezuela’s faltering, oil-dependent economy, comes as the Trump administration has bolstered military forces in the Caribbean, blown up more than two dozen boats allegedly ferrying illicit drugs in both the Caribbean and the Pacific, and threatened military strikes on Venezuela and neighboring Colombia.

    “Venezuela is completely surrounded by the largest Armada ever assembled in the History of South America,” Trump said in a rambling post Tuesday night on his social media site. “It will only get bigger, and the shock to them will be like nothing they have ever seen before.”

    Not long after Trump announced the blockade Tuesday night, the government of Venezuela denounced the move and his other efforts as an attempt to “rob the riches that belong to our people.”

    Venezuelan National Assembly President Jorge Rodriguez is flanked by First Vice President Pedro Infante, left, and Second Vice President America Perez during an extraordinary session at the Federal Legislative Palace in Caracas on Dec. 17, 2025.

    (Juan Barreto / AFP/Getty Images)

    Leaders of other Latin American nations called for calm and United Nations Secretary-General Antonio Guterres, after a phone call with Maduro, called on U.N. members to “exert restraint and de-escalate tensions to preserve regional stability.”

    Also Wednesday, Trump received rare pushback from the Republican-dominated Congress, where some lawmakers are pressuring the administration to disclose more information about its deadly attacks on alleged drug boats.

    The Senate gave final approval to a $900-billion defense policy package that, among other things, would require the administration to disclose to lawmakers specific orders behind the boat strikes along with unedited videos of the deadly attacks. If the administration does not comply, the bill would withhold a quarter of Defense Secretary Pete Hegseth’s travel budget.

    The bill’s passage came a day after Hegseth and Secretary Marco Rubio briefed lawmakers on Capitol Hill about the U.S. military campaign. The meetings left lawmakers with a mixed reaction, largely with Republicans backing the campaign and Democrats expressing concern about it.

    The White House has said its military campaign in Venezuela is meant to curb drug trafficking, but U.S. Drug Enforcement Administration data show that Venezuela is a relatively minor player in the U.S.-bound narcotics trade.

    Trump also declared that the South American country had been designated a “foreign terrorist organization.” That would apparently make Venezuela the first nation slapped with a classification normally reserved for armed groups deemed hostile to the United States or its allies. The consequences remain unclear for Venezuela.

    A gray military plane takes off from a tarmac, with greenery in the background

    A U.S. Air Force Boeing C-17 Globemaster takes off from Jose Aponte de la Torre Airport, formerly Roosevelt Roads Naval Station, on in Ceiba, Puerto Rico.

    (Miguel J. Rodriguez Carrillo / AFP/Getty Images)

    Regional responses to the Trump threats highlight the new ideological fault lines in Latin America, where right-wing governments in recent years have won elections in Chile, Argentina and Ecuador.

    The leftist leaders of the region’s two most populous nations — Brazil and Mexico — have called for restraint in Venezuela.

    “Whatever one thinks about the Venezuelan government or the presidency of Maduro, the position of Mexico should always be: No to intervention, no to foreign meddling,” Mexican President Claudia Sheinbaum said Wednesday, calling on the United Nations to look for a peaceful solution and avert any bloodshed.

    Brazilian President Luiz Inácio Lula da Silva has also urged Trump to pull back from confrontation. “The power of the word can outweigh the power of the gun,” Lula said he told Trump recently, offering to facilitate talks with the Maduro government.

    But Chile’s right-wing president-elect, José Antonio Kast, said he supports a change of government in Venezuela, asserting that it would reduce migration from Venezuela to other nations in the region.

    Surrounded by security, Chilean President-elect Jose Antonio Kast leaves the government house

    Surrounded by security, Chilean President-elect José Antonio Kast, second from right, leaves after a meeting with Argentine President Javier Milei in Buenos Aires on Dec. 16, 2025.

    (Rodrigo Abd / Associated Press)

    “If someone is going to do it, let’s be clear that it solves a gigantic problem for us and all of Latin America, all of South America, and even for countries in Europe,” Kast said, referring to Venezuelan immigration.

    In his Tuesday post, Trump said he had ordered a “complete blockade of all sanctioned oil tankers going into, and out of, Venezuela.” Although the move is potentially devastating to Venezuela’s economy, the fact that the blockade will affect only tankers already sanctioned by U.S. authorities does give Venezuela some breathing room, at least for now.

    Experts estimated that between one-third and half of tankers transporting crude to and from Venezuela are part of the so-called dark fleet of sanctioned tankers. The ships typically ferry crude from Venezuela and Iran, two nations under heavy U.S. trade and economic bans.

    However, experts said that even a partial blockade will be a major hit for Venezuela’s feeble economy, already reeling under more than a decade of U.S. penalties. And Washington can continue adding to the list of sanctioned tankers.

    “The United States can keep sanctioning more tankers, and that would leave Venezuela with almost no income,” said David A. Smilde, a Venezuela expert at Tulane University. “That would probably cause a famine in the country.”

    The growing pressure, analysts said, will probably mean the diminishing number of firms willing to take the risk of transporting Venezuelan crude will increase their prices, putting more pressure on Caracas. Purchasers in China and elsewhere will also probably demand price cuts to buy Venezuelan oil.

    Trump has said that Maduro must go because he is a “narco-terrorist” and heads the “Cartel de los Soles,” which the While House calls a drug-trafficking syndicate. Trump has put a $50-million bounty on Maduro’s head. Experts say that Cartel de los Soles is not a functioning cartel, but a shorthand term for Venezuelan military officers who have been involved in the drug trade for decades, long before Maduro or his predecessor and mentor, the late Hugo Chávez, took office.

    The White House at night
    It is unclear whether President Trump planned to say more about Venezuela in a televised address to the nation late on Dec. 17, 2025.

    (Graeme Sloan / Bloomberg / Getty Images)

    In his comments Tuesday, Trump denounced the nationalization of the Venezuelan oil industry, a process that began in the 1970s, when Caracas was a strong ally of Washington.

    Echoing Trump’s point that Venezuela “stole” U.S. assets was Stephen Miller, Trump’s Homeland Security advisor, who declared on X: “American sweat, ingenuity and toil created the oil industry in Venezuela. Its tyrannical expropriation was the largest recorded theft of American wealth and property.”

    Among those believed to be driving Trump’s efforts to oust Maduro is Secretary of State Marco Rubio, the son of Cuban immigrants to Florida. Rubio has long been an outspoken opponent of the communist governments in Havana and Caracas. Venezuelan oil has helped the economies of left-wing governments in both Cuba and Nicaragua.

    Christopher Sabatini, a senior fellow for Latin America at the think tank Chatham House, said Rubio has been on a longtime campaign to remove Maduro.

    “He has his own political project,” Sabatini said. “He wants to get rid of the dictators in Venezuela and Cuba.”

    McDonnell and Linthicum reported from Mexico City and Ceballos from Washington. Special correspondent Mery Mogollón in Caracas contributed to this report.

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    Patrick J. McDonnell, Ana Ceballos, Kate Linthicum

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  • Roomba maker iRobot files for Chapter 11

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    BEDFORD (AP) — Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says it does not expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process.

    IRobot, which became well known for its robotic vacuums, has struggled of late, dealing with increased competition, layoffs and a declining stock price. In 2022, Amazon announced that it had agreed to buy iRobot for about $1.7 billion, but that deal was called off last year. Amazon blamed “undue and disproportionate regulatory hurdles” after the European Union signaled its objection to the transaction.

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  • Chef, builder create function room in historic Blackburn Building

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    The Blackburn Room at Tonno, which expands the space of the downtown restaurant, was designed with the idea of preserving the historic nature of the building in which it is housed.

    Drew Hale, founder of Gloucester-based Hale Design Build, said this project marked another chapter in a long partnership between the two local businesses.

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    Gail McCarthy may be contacted at 978-675-2706, or gmccarthy@northofboston.com.

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    By Times Staff

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  • Six polls that show Donald Trump is in deep economic trouble

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    A series of national polls show President Donald Trump facing sustained disapproval over his handling of the U.S. economy, with warning signs even emerging among core Republican voters. 

    From record-low approval ratings to cracks in his MAGA base, the numbers suggest that Trump’s economic brand is under strain heading into the 2026 midterms.

    The White House maintains that Trump “inherited the worst inflation crisis in a generation from Joe Biden’s incompetence” and points to how the administration “rapidly cooled inflation to a 2.5 percent annualized rate.”

    A spokesman previously told Newsweek: “Turning the Biden economic disaster around has informed nearly every action the Trump administration has taken since Day One.”

    Newsweek contacted the White House via email outside of regular business hours for further comment.  

    Why It Matters

    The findings highlight the erosion of public satisfaction in the handling of a key pillar of Trump’s political identity—economic stewardship—at a pivotal moment before the 2026 midterm elections. As inflation and the rising cost of living persist, the administration’s capacity to maintain party unity and voter confidence could shape both legislative battles in Congress and the broader fight for control over the House and Senate.

    What To Know

    Trump’s second-term calling card was supposed to be economic revival. Instead, a raft of recent polls suggests Americans are dissatisfied with his handling of the economy, inflation, and affordability. 

    1. AP-NORC: Worst Economic Approval Rating From First or Second Term

    An Associated Press-NORC poll conducted December 4—8, 2025 found that only 31 percent of Americans approve of Trump’s handling of the economy, down from 40 percent in March, marking the lowest economic approval rating measured of his first or second term with this particular pollster. 

    The poll, involving 1,146 adults and a four-point margin of error, reported a significant drop in support among Republicans: approval fell from 78 percent in March to 69 percent in December.

    The survey also revealed that two-thirds of Americans rated the economy as “poor,” a sentiment unchanged since Biden’s final year in office.

    It also showed that financial strain is forcing nearly half (48 percent) of Americans to cut back on nonessential holiday spending, with 87 percent saying grocery prices are higher than usual. Lower-income households are especially hard hit, with increased numbers delaying major purchases or cutting back on essentials.

    2. Fox News: Trump Rated Worse Than Biden on Economy

    Separate polling from Fox News, conducted November 14-17 among 1,005 registered voters, found that 76 percent rate the U.S. economy negatively under Trump, up from 70 percent at the end of the Biden administration. 

    Voters blamed Trump for the economic situation at a two-to-one ratio over Biden (62 percent versus 32 percent).

    3. NBC News: MAGA Base Shows Cracks

    An NBC News Decision Desk poll, conducted by SurveyMonkey with a margin of error of plus or minus 1.9 percentage points, shows Trump’s overall approval at 42 percent, with 58 percent disapproval. 

    While 70 percent of MAGA Republicans still strongly approve, that’s an eight-point drop since April. 

    Economic concerns dominate in the poll, which surveyed 20,252 adults online from November 20 to December 8, with respondents citing inflation and cost-of-living pressures as top worries, despite Trump’s insistence that affordability is a “hoax.”

    4. Reuters/Ipsos: Affordability Still Hurts

    An online Reuters/Ipsos poll of 4,434 nationwide respondents, with a margin of error of two percentage points in either direction, shows Trump’s overall approval at 41 percent, up slightly from November.

    But his rating on cost-of-living issues remains weak at 31 percent, despite climbing from the previous month of 26 percent. 

    The poll, conducted between December 3 and 8, highlights that affordability is the dominant concern for voters, even as Trump touts tariff rollbacks and tax cuts.

    5. The Economist/YouGov: Net Negative on Economy

    The Economist’s tracker places Trump’s net approval at -16 percent, with Americans “especially dissatisfied” on inflation and economic management. 

    Ratings that were briefly positive after his inauguration have collapsed into strongly negative territory following tariff hikes and affordability woes.

    Inflation/prices (23 percent), and jobs and the economy (15 percent) were also rated as voters’ top concerns, signaling how important it is for Trump to score well on these issues. 

    6. Harvard CAPS/Harris: Inflation Tops Voter Concerns

    While this poll, which was conducted online within the United States on December 2-4, 2025, among 2,204 registered voters, shows Trump’s overall approval rebounding to 47 percent post-shutdown, his weakest issue remains inflation, where he scores just 40 percent approval. 

    A majority of voters (59 percent) say affordability is their top economic worry, suggesting that even perceived gains aren’t translating into confidence.

    What People Are Saying

    White House spokesman Kush Desai told Newsweek last week: “President Trump and every member of his Administration are clear-eyed about the fact that Americans continue to reel from the lingering effects of Joe Biden’s generational economic crisis. 

    “Turning the Biden economic disaster around has informed nearly every action the Trump administration has taken since Day One, from unleashing American energy to cut gas prices to signing historic drug pricing deals to cut costs for American patients. 

    “Much work remains, and every member of the Trump administration continues to focus on recreating the historic job, wage, and economic growth that Americans enjoyed during President Trump’s first term.”

    Desai also previously told Newsweek: “President Trump inherited the worst inflation crisis in a generation from Joe Biden’s incompetence, and his Administration has rapidly cooled inflation to a 2.5 percent annualized rate. Americans can count on inflation continuing to fall and real wages continuing to rise.” 

    Trump said in a Truth Social post: “When will I get credit for having created, with No Inflation, perhaps the Greatest Economy in the History of our Country?…When will Polls reflect the Greatness of America at this point in time, and how bad it was just one year ago?”

    Larry Reynolds, a 74-year-old Republican retiree from Wadsworth, Ohio, said: “I still back Trump’s approach in principle but believe the president’s escalating tariffs have become self-defeating…I don’t think it’ll be anything really soon. I think it’s just going to take time.”

    Democratic National Committee Rapid Response Director Kendall Witmer, said in a statement to Newsweek: “Donald Trump’s train wreck of an economy is catching up to him, and it’s no wonder voters are pissed. Trump promised to ‘lower costs on Day One,’ but prices are soaring, and good-paying jobs are out of reach for everyday Americans. Trump’s plan of action so far has been to call affordability a ‘hoax’ and tell Americans not to ‘be dramatic.’ Meanwhile, working families are skipping meals, forgoing critical medical care, and depleting their savings as Trump doubles down on his disastrous economic policies. While Trump twiddles his thumbs, Democrats are working tirelessly to bring down prices and lower the cost-of-living.”

    What Happens Next

    Expanding discontent over the economy poses risks for Republican prospects in the 2026 midterms, opening opportunities for primary challenges and Democratic gains in key swing districts

    The White House has launched a national tour seeking to shore up public confidence, while also deploying new policy measures and messaging that target ongoing inflation and the cost of living.

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  • Research Reports & Trade Ideas – Yahoo Finance

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    Analyst Report: CMS Energy Corporation

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  • State provides tax credits to theater programs

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    BOSTON — The Healey administration is doling out $7 million to community theaters under a new tax credit program to help the businesses offset their operating costs, attract more talent and expand offerings.

    The Live Theater Tax Credit Program, which is jointly administered by the state offices of Travel and Tourism and Business Development, announced last week that it has awarded funding for 28 live-stage musical theater, dance or theatrical productions across the state.

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    By Christian M. Wade | Statehouse Reporter

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  • High prices hitting Christmas shoppers hard

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    High prices hitting Christmas shoppers hard – CBS News









































    Watch CBS News



    A new poll finds roughly half of Americans say they’re finding it harder than usual to afford holiday gifts this year and 40% are having to dip into their savings. Ali Bauman reports.

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  • Federal Reserve cuts key rate, sees healthier economy next year

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    WASHINGTON (AP) — The Federal Reserve reduced its key interest rate by a quarter-point for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months.

    The cut decreased the Fed’s rate to about 3.6%, the lowest it has been in nearly three years. Lower rates from the Fed can bring down borrowing costs for mortgages, auto loans, and credit cards over time, though market forces can also affect those rates.

    Chair Jerome Powell suggested at a news conference that after six rate cuts in the past two years, the central bank can step back and see how hiring and inflation develop. In a set of quarterly economic projections, Fed officials signaled they expect to lower rates just once next year.

    Fed officials “will carefully evaluate the incoming data,” Powell said, adding that the Fed is “well positioned to wait to see how the economy evolves.”

    The chair also said that the Fed’s key rate was close to a level that neither restricts nor stimulates the economy, a significant shift from earlier this year, when he described the rate as high enough to slow the economy and quell inflation. With rates closer to a more neutral level, the bar for further rate cuts is likely higher that it was this fall.

    “We believe the labor market will have to noticeably weaken to warrant another rate cut soon,” Ryan Sweet, global chief economist at Oxford Economics, said.

    Three Fed officials dissented from the move, the most dissents in six years and a sign of deep divisions on a committee that traditionally works by consensus. Two officials voted to keep the Fed’s rate unchanged: Jeffrey Schmid, president of the Kansas City Fed, and Austan Goolsbee, president of the Chicago Fed. Stephen Miran, whom Trump appointed in September, voted for a half point cut.

    December’s meeting could usher in a more contentious period for the Fed. Officials are split between those who support reducing rates to bolster hiring and those who’d prefer to keep rates unchanged because inflation remains above the central bank’s 2% target. Unless inflation shows clear signs of coming fully under control, or unemployment worsens, those divisions will likely remain.

    “What you see is some people feel we should stop here and we’re in the right place and should wait, and some people think we should cut more next year,” Powell said.

    A stark sign of the Fed’s divisions was the wide range of cuts that the 19 members of the Fed’s rate-setting committee penciled in for 2026. Seven projected no cuts next year, while eight forecast that the central bank would implement two or more reductions. Four supported just one. Only 12 out of 19 members vote on rate decisions.

    President Donald Trump on Wednesday criticized the cut as too small, and said he would have preferred “at least double.” Trump could name a new Fed chair as soon as later this month to replace Powell when his term ends in May. Trump’s new chair is likely to push for sharper rate cuts than many officials will support.

    Stocks jumped in response to the Fed’s move, in part because some Wall Street investors expected Powell to be more forceful in shutting down the possibility of future cuts. The broad S&P 500 stock index rose 0.7% and closed near an all-time high reached in October.

    Powell was also optimistic about the economy’s growth next year, and said that consumer spending remains resilient while companies are still investing in artificial intelligence infrastructure. He also suggested growing worker efficiency could contribute to faster growth without more inflation.

    Still, Powell said the committee reduced borrowing costs out of concern that the job market is even weaker than it appears. While government data shows that the economy has added just 40,000 jobs a month since April, Powell said that figure could be revised lower by as much as 60,000, which would mean employers have actually been shedding an average of 20,000 jobs a month since the spring.

    “It’s a labor market that seems to have significant downside risks,” Powell told reporters. “People care about that. That’s their jobs.”

    The Fed met against the backdrop of elevated inflation that has frustrated many Americans, with prices higher for groceries, rents, and utilities. Consumer prices have jumped 25% in the five years since COVID.

    “We hear loud and clear how people are experiencing really high costs,” Powell said Wednesday. “A lot of that isn’t the current rate of inflation, a lot of that is e mbedded high costs due to higher inflations in 2022-2023.”

    Powell said inflation could move higher early next year, as more companies pass tariff costs to consumers as they reset prices to start the year. Inflation should decline after that, he added, but it’s not guaranteed.

    “We just came off an experience where inflation turned out to be much more persistent than anyone expected,” he said, referring to the spike in 2022. “Is that going to happen now? That’s the risk.”

    The Fed’s policy meeting took place as the Trump administration moves toward picking a new Fed chair to replace Powell when his term finishes in May. Trump’s nominee is likely to push for sharper rate cuts than many officials may support.

    Trump has hinted that he will likely pick Kevin Hassett, his top economic adviser. But on Wednesday, Trump said he would meet with Kevin Warsh, a former Fed governor who has also been on the short list to replace Powell.

    Trump added that he wants someone who will lower interest rates. “Our rates should be the lowest rates in the world,” he said.

    A government report last week showed that overall and core prices rose 2.8% in September from a year earlier, according to the Fed’s preferred measure. That is far below the spikes in inflation three years ago but still painful for many households after the big run-up since 2020.

    Adding to the Fed’s challenges, job gains have slowed sharply this year and the unemployment rate has risen for three straight months to 4.4%. While that is still a low rate historically, it is the highest in four years. Layoffs are also muted, so far, as part of what many economists call a “low hire, low fire” job market.

    The Fed typically keeps its key rate elevated to combat inflation, while it often reduces borrowing costs when unemployment worsens to spur more spending and hiring.

    Powell will preside over only three more Fed meetings before he steps down. On Wednesday, he was asked about his legacy.

    “I really want to turn this job over to whoever replaces me with the economy in really good shape,” he said. “I want inflation to be under control, coming back down to 2%, and I want the labor market to be strong.”

    ___

    Associated Press Writers Collin Binkley and Alex Veiga in Los Angeles contributed to this report.

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  • Sheryl Sandberg’s Lean In Finds Women Are Leaning Out in the Workplace

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    Sandberg argues that standardized processes are essential to closing the widening ambition gap. John Lamparski/Getty Images

    Twelve years after Sheryl Sandberg’s best-seller Lean In sparked a workplace movement urging women to push for advancement, many are now leaning out. A new survey by LeanIn.org, the nonprofit Sandberg founded alongside the book’s release in 2013, conducted with McKinsey & Company shows a notable drop in women’s ambition.

    LeanIn.org’s annual “Women in the Workplace” report, released Tuesday (Dec. 9) and based on data from 124 companies in the U.S. and Canada, finds for the first time that women are less likely than men to say they want a promotion. In 2025, 80 percent of women sought a promotion compared to 86 percent of men. In prior years, ambition levels were aligned. Last year, for example, both were at 70 percent.

    We do see that ambition gap, but only when women don’t get the opportunities and support they need,” Sandberg said in an interview with Bloomberg on Tuesday. 

    She said the gap stems from persistent barriers at every career stage. Two in 10 companies now say women’s advancement is a low or nonexistent priority—a figure that rises to three in 10 for women of color. About half of the companies that previously contributed to the report also no longer prioritize advancing women, Sandberg said.

    Day-to-day, these barriers are reflected in how ambition is perceived and rewarded. Women are 30 percent more likely than men to be labeled “aggressive” when they ask for raises or promotions, and men in senior roles are 70 percent more likely than their female peers to be selected for leadership training.

    Sandberg argues the solution is straightforward: “Standardize your processes. Establish criteria in advance that everyone agrees to that are universally applied.”

    The report also notes the impact of post-COVID return-to-office mandates. A quarter of surveyed companies now offer fewer remote and hybrid options—policies that disproportionately affect women, who make up about two-thirds of U.S. caregivers. Women who work mostly remotely face stigma for using flexibility benefits, whereas men generally do not.

    Gender diversity programs are also shrinking. Nearly one-sixth of companies have reduced formal leadership sponsorships and scaled back programs designed for women. These cuts come amid the Trump administration’s rollback of DEI efforts and the rise of natalist policies that encourage women to have more children.

    As rhetoric promoting stay-at-home motherhood gains traction, Sandberg said the data doesn’t support the idea that staying home is inherently better for families. These expectations, she added, “were never really gone.” Even now, she said, “Do I really think we ever fully encouraged leadership in…women as much as men?” The answer is no.

    “If you can afford to be a full-time spouse and a full-time parent as a man or a woman and you want to do that, I think that can be deeply fulfilling work,” said Sandberg. “Most women don’t have that option.”

    Ultimately, Sandberg said expanding leadership opportunities for women is an economic imperative. “It’s a question of economic productivity,” she said. “Do we want to get the best out of our workforce?”

    Sheryl Sandberg’s Lean In Finds Women Are Leaning Out in the Workplace

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    Rachel Curry

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  • Research Reports & Trade Ideas – Yahoo Finance

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    Analyst Report: Royal Bank of Canada

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  • Fact-check: Donald Trump’s PA speech on the economy

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    For the first time in months, President Donald Trump held a campaign-style rally, traveling to a Mount Pocono, Pennsylvania, casino to talk about the economy amid growing consumer concerns about affordability that Trump has tried to paint as a hoax and a Democratic issue.

    In his roughly 100-minute speech, he talked about his love of the word “tariff” and zeroed in on the “fake news” reporters covering the event. At times, supporters chanted “four more years,” although experts have told PolitiFact another Trump candidacy would violate the 22nd Amendment’s clear intent. 

    Trump’s Dec. 9 comments touched on other high-profile recent topics. As Minnesota is in the news for a fraud scandal involving Somalis, he attacked Rep. Ilhan Omar, D-Minn., who is Somali, saying she “does nothing but bitch. She’s always complaining.” The crowd responded, “Send her back.” Omar is a U.S. citizen, as are the majority of Somalis in Minnesota.

    And amid his recent focus on former President Joe Biden’s use of an autopen, Trump mused about whether Federal Reserve Board members appointed by his predecessor were serving illegally. There’s no way to nullify presidential actions signed by autopens, legal experts say.

    Trump also repeated his Pants on Fire claim that every strike on a “narcoterrorist” boat in the Caribbean saves 25,000 American lives.

    We fact-checked several of Trump’s statements about the economy.

    Trump: The U.S. is “right around $18 trillion” in promises of new investment. “We could hit $20 trillion in the first year” of my presidency.

    False.

    Trump has said that since he took office in January, the U.S. has attracted between $18 trillion and $22 trillion in new investment. But the White House website documents a smaller number — $9.6 trillion — and the investments listed on the website include aspirational, multi-year goals that may not come to fruition and future purchases or sales of products, rather than only capital investments. 

    In Pennsylvania, Trump also said, “I went to Saudi Arabia, Qatar and (the United Arab Emirates). I brought back $4 trillion.” These commitments are among the highest-dollar commitments on the White House list, but the list cites $3.2 trillion, lower than what Trump said,  and that number still requires a major caveat. The Qatar and the UAE commitments are multiple times larger than their countries’ annual gross domestic product, which calls the pledges’ feasibility into question.

    Trump: “It was just reported that four states had $1.99 a gallon” for gasoline.

    This cherry-picks a small number of gas stations in three states.

    The current national average gasoline price is $3.07 per gallon, according to the federal government’s Energy Information Administration. The American Automobile Association said the states with the lowest average statewide gasoline prices are Oklahoma at $2.38, Texas at $2.49, Arkansas at $2.52 and Colorado at $2.53.

    According to Patrick De Haan of the gasoline price comparison site Gas Buddy, Oklahoma, Colorado and Texas have a few dozen stations with prices below $1.99 a gallon. These are a fraction of all U.S. stations, which number well over 100,000. 

    Trump: “Our prices are coming down tremendously from the highest prices in the history of our country.”

    This is misleading. 

    Overall inflation on Trump’s watch is right where it started. According to the Bureau of Labor Statistics’ consumer price index, year-over-year inflation in January 2025, when he took office, was 3%, and in the most recent month available, September, it was also 3%. (The government shutdown delayed more recent inflation data.)

    When using the inflation rate minus food and energy, the rate has declined modestly.  This rate was 3% year over year in September, lower than the 3.3% rate in January 2025. Economists sometimes prefer this measurement because it smooths out the price volatility in the food and energy sectors.

    Trump’s statement about the highest prices in U.S. history is inaccurate in two ways.

    The highest year-over-year inflation rate under Biden was around 9% in summer 2022. That was the highest in about 40 years, but the record-high U.S. inflation rates were recorded in the 1970s and early 1980s, when the inflation rate often hovered between 12% and 15%. 

    In addition, Trump ignores that during the final two-plus years of Biden’s tenure, inflation fell significantly. By Biden’s final full month in office, December 2024, the year over year inflation rate was 2.9%, meaning it fell by about two-thirds from its Biden-era peak and was slightly lower than the most recent rate recorded under Trump.

    Trump: The One Big Beautiful Bill Act in 2025 enacted the “biggest tax cuts ever.”

    This is Mostly False.

    We examined the tax revenue decreases from major laws passed since 1980. (Most tax laws prior to 1980 either raised taxes or cut them modestly.) We looked at tax cuts as a percentage of gross domestic product, which evens out differences over time. 

    President Ronald Reagan signed the 1981 law with the biggest tax savings. That law cut taxes by 3.5% of the nation’s cumulative five-year GDP.

    A 2012 bill passed by the Republican Congress and signed by President Barack Obama ranked second. That bill, which cut taxes by 1.7% of GDP, extended the tax cuts passed in 2003 under President George W. Bush.

    Based on initial projections, Trump’s 2025 law ranks third at 1.4% of GDP. Trump’s 2017 law ranks fourth at 1%, tied with a 2010 law Obama signed that extended Bush’s 2001 tax cuts. 

    However, the bottom-line impact on Americans’ tax liabilities beginning in 2026 might not be dramatic as these rankings suggest, because the 2025 bill extended the cuts from Trump’s 2017 bill, which would have expired otherwise. So people are already paying the lower tax rates and won’t necessarily see additional tax cuts. 

    The 2025 law adds some new tax breaks, such as for income from tips and overtime and for Americans 65 and older.

    If considering only the new tax cuts and not the renewal of the 2017 tax cuts, then Trump’s 2025 law would tie for sixth biggest cut ever at 0.5% of GDP.

    Trump: The Big Beautiful BIll Act included a provision for “no tax on Social Security for our great seniors.”

    This is Mostly False.

    Because of a procedural quirk, Republican lawmakers were unable to include a complete elimination of taxes on Social Security benefits when crafting the legislation. Instead, the House and Senate agreed to workarounds that produced significant, but not full, overlap between people who would benefit from the tax break and people who receive Social Security payments. 

    A representative from the Joint Committee on Taxation, the bipartisan body of Congress that analyzes proposed tax legislation, estimated that 24 million Americans could still pay some amount of tax on their Social Security benefits.

    Trump: Under Biden, “migrant workers and illegal aliens got 100%” of new jobs, “but since I took office, 100% of all net job creation has gone to American citizens.”

    This needs context

    The number of native-born Americans working since he took office in January has risen by 2.58 million, a 2% increase. During that same period, the number of foreign-born workers has decreased by 1 million, a 3.1% decline. (A caveat: The data for these two statistics tends to be what economists call “noisy,” because unlike other employment statistics, these metrics are not seasonally adjusted.)

    The problem with Trump’s statement is attributing the foreign-born employment data only to “migrant workers and illegal aliens.” There is no statistical category for “migrant” or “illegal alien” employment. The available statistics for “foreign born” includes large numbers of naturalized U.S. citizens, permanent residents and other immigrants legally in the U.S.

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  • Video: Trump Attacks Fed Governors Ahead of Key Interest Rate Meeting

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    new video loaded: Trump Attacks Fed Governors Ahead of Key Interest Rate Meeting

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    Trump Attacks Fed Governors Ahead of Key Interest Rate Meeting

    During a speech in Pennsylvania focused on the economy, President Trump criticized the Fed chair, Jerome Powell, and four other members. The attack came as the Fed prepares to reveal new interest rates.

    “We have a bad head of the Fed. You know who ‘too late’ is? ‘Too late’ Powell? Jerome ‘too late’ — he’s too late with his interest rates for a reason. He’s a bad guy. He’s not a smart guy, but he’s a bad guy. Well, this is a nice crowd.” “I think the risk of of higher, more persistent inflation has declined.” “I just heard it could be that all four commissioners in the Fed signed by Biden — I hear that the autopen… … They put people there that are not authorized to be there.”

    During a speech in Pennsylvania focused on the economy, President Trump criticized the Fed chair, Jerome Powell, and four other members. The attack came as the Fed prepares to reveal new interest rates.

    By Shawn Paik

    December 10, 2025

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    Shawn Paik

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  • RANCHERS NUMBERS DECLINING: Bailout for farmers doesn’t include ranchers yet

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    TAHLEQUAH – The president announced on Dec. 8, that the U.S. Department of Agriculture will make $12 billion available to farmers in a one-time bridge payment to farmers, to be released by Feb. 28, 2026.

    President Donald J. Trump, along with U.S. Secretary of Agriculture Brooke L. Rollins, announced the payments in response to temporary trade market disruptions and increased production costs.

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    By Lee Guthrie | lguthrie@tahlequahdailypress.com

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  • RANCHERS NUMBERS DECLINING: Bailout for farmers doesn’t include ranchers yet

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    TAHLEQUAH – The president announced on Dec. 8, that the U.S. Department of Agriculture will make $12 billion available to farmers in a one-time bridge payment to farmers, to be released by Feb. 28, 2026.

    President Donald J. Trump, along with U.S. Secretary of Agriculture Brooke L. Rollins, announced the payments in response to temporary trade market disruptions and increased production costs.

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    Javascript is required for you to be able to read premium content. Please enable it in your browser settings.

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    By Lee Guthrie | lguthrie@tahlequahdailypress.com

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  • RANCHERS NUMBERS DECLINING: Bailout for farmers doesn’t include ranchers yet

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    TAHLEQUAH – The president announced on Dec. 8, that the U.S. Department of Agriculture will make $12 billion available to farmers in a one-time bridge payment to farmers, to be released by Feb. 28, 2026.

    President Donald J. Trump, along with U.S. Secretary of Agriculture Brooke L. Rollins, announced the payments in response to temporary trade market disruptions and increased production costs.

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    By Lee Guthrie | lguthrie@tahlequahdailypress.com

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