The Oracle of Omaha is concerned that America has a gambling problem. Why it matters: Warren Buffett recently retired from Berkshire Hathaway, but when he speaks, investors still listen. Driving the news: Buffett articulated his concerns about America's gambling culture in an interview with CNBC , saying speculative trading is undermining long-term investing. - "It's tough to find values when everybody is preferring gambling," he said. - He added: "Since humans love to gamble so much, there's more money in, in actually cultivating gamblers than there are cultivating investors." The big picture: Buffett's comments come amid the rise of prediction markets like Kalshi and Polymarket, which are giving investors the ability to risk money…
Federal Reserve chairman Kevin Warsh is testifying on Capitol Hill for the second day Wednesday, this time before the Senate Banking Committee. - The combination of a few comments he made in Tuesday's hearing before the House and good June inflation data now in hand suggests a rate increase is unlikely at the Fed's meeting in two weeks, while its policy stance the remainder of the year is quite uncertain. Driving the news: The Labor Department on Wednesday morning released a favorable Producer Price Index reading, showing the overall index fell 0.3% in June, while a core index excluding food, energy and trade services was up a modest 0.1%. - It came on the heels of Tuesday's similarly disinflationary Consumer Price Index report . State…
Two police officers who helped defend the U.S. Capitol during the Jan. 6 riot are suing to block anyone from receiving payouts from a new settlement fund.
During his first public appearance on Capitol Hill since the war began, the defense secretary lashed out at lawmakers in both parties who have questioned the conflict.
First lady Melania Trump denied that she had a friendship with convicted sex offender Jeffrey Epstein or that she had any ties to his crimes in a head-turning White House address Thursday. The big picture: The administration's handling of the Epstein files — and the president's ties to the disgraced financier — have become a months-long headache for the administration. Driving the news: "The false smears about me from mean spirited and politically motivated individuals and entities, looking to cause damage to my good name to gain financially and climb politically must stop," she said from the White House. - "I am not Epstein's victim. Epstein did not introduce me to Donald Trump," she said, adding she first "crossed paths" with…
Steve Ubl built PhRMA into a more aggressive operation as its longtime leader. The White House has tangled with Ubl and the pharmaceutical industry in its bid to lower drug prices.
Visitors to the Capitol in Washington now have a visible reminder of the siege there on Jan. 6, 2021, and the officers who fought and were injured that day.
A Republican voting overhaul is back on Capitol Hill — with an added photo identification provision and an altered name. Opponents say the legislation would disenfranchise millions of voters.