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Federal Reserve Chair Jerome Powell warned on Friday that recent tariffs introduced by President Donald Trump could lead to increased unemployment, rising inflation, and slower economic growth. Speaking at an event in Virginia, Powell noted that the impact of the tariffs is likely to be more significant than initially anticipated, emphasizing that it is "too soon" to adjust US monetary policy. His remarks suggest that the Fed is not in a hurry to lower its benchmark lending rate, currently between 4.25 and 4.50 percent, as it aims to achieve its long-term inflation target of two percent. Meanwhile, Trump, who announced heavy tariffs on major trading partners earlier this week, urged Powell via social media to cut interest rates, claiming it would be an opportune moment for the Fed Chair to act decisively. Trump's call for action reflects ongoing tensions between the administration and the central bank. 
Published: Apr 04 2025, 9 pmeznews.inAlbert Saniger, founder of the AI shopping app Nate, has been charged with fraud for allegedly misleading investors about the app's capabilities, which he marketed as a revolutionary tool for online shopping. The FBI described Saniger’s operations as a "scheme filled with smoke and mirrors," revealing that instead of utilizing advanced AI, the app relied on hundreds of call centre employees in the Philippines to manually process purchases. According to the Department of Justice, Nate's automation rate was "effectively zero percent." Saniger raised over $50 million in funding from prominent investors, including Coatue and Forerunner Ventures, and secured an additional $38 million in 2021. Matthew Podolsky, acting U.S. attorney for the Southern District of New York, emphasized that such deception not only victimizes investors but also undermines trust in legitimate AI innovations, hindering overall progress in the field.
Published: Apr 12 2025, 9 ameznews.inThe Trump administration has dismissed a federal judge's order to provide a status update by Friday regarding the return of Kilmar Abrego Garcia, a Salvadoran migrant wrongfully deported, labeling the deadline as "impracticable." Lawyers for Garcia criticized the administration for its "arrogance and cruelty," alleging ongoing delays that jeopardize his safety. District Judge Paula Xinis noted the government's failure to comply and mandated daily updates on Garcia's status, with a follow-up hearing scheduled for April 15. Garcia, who was deported despite a 2019 court ruling prohibiting his expulsion due to safety concerns, is married to a U.S. citizen. The administration claims it cannot secure his return, asserting he is linked to the MS-13 gang, a claim the judge has found unsubstantiated. This case marks a significant test of presidential authority over national security operations amid ongoing legal disputes.
Published: Apr 12 2025, 9 ameznews.inA pod of over 60 orcas has been observed attacking and killing an 18-metre pygmy blue whale off the coast of Western Australia, marking only the fourth recorded instance of such an event. The dramatic encounter occurred in Bremer Canyon, a marine park near Bremer Bay, during a whale watching tour on April 7. The pygmy blue whale, an endangered subspecies of the largest animal on Earth, was chased and exhausted by the orcas, with more than 30 converging on it at one point. The ordeal lasted less than 40 minutes, culminating in the orcas celebrating their hunt with breaches and tail slaps. Naturaliste Charters Whale Watching noted the event as a striking reminder of the orcas' role as apex predators. This incident follows recent reports of orcas using sophisticated techniques to hunt whale sharks in the Pacific, further highlighting their complex hunting strategies and social behavior.
Published: Apr 12 2025, 9 ameznews.inDonald Trump expressed confidence in his health following his first annual medical checkup since resuming the presidency, stating he felt "in very good shape" and had "a good heart." At 78, Trump, who will be 82 by the end of his term, has often boasted about his vitality while deriding his 82-year-old predecessor, Joe Biden, as unfit for office. During the checkup at Walter Reed military hospital, Trump reported passing a cognitive test with flying colors. His physician, Sean Barbabella, is set to release a report on Sunday, amid ongoing scrutiny over presidential health transparency. Trump's health has been a topic of contention, with past doctors making exaggerated claims about his fitness. Despite his well-documented love for fast food, he remains active and has reportedly lost weight since his first term. The age and health of both candidates are expected to play a significant role in the upcoming 2024 election.
Published: Apr 12 2025, 7 ameznews.inAnand Shah, a 42-year-old municipal councillor of Indian origin in New Jersey, has been charged in connection with a mafia-run gambling operation, according to state Attorney General Matthew Platkin. Shah is among 39 individuals facing charges of racketeering, gambling offenses, and money laundering following raids at 12 locations, including four poker clubs. Platkin revealed that Shah allegedly managed illegal poker games and an online sportsbook linked to the notorious Lucchese Crime Family, a prominent Italian-American mafia group. Shah, who served his second term in Prospect Park overseeing finance and economic development, represents a growing concern over public trust in elected officials. Another individual of Indian descent, Samir S Nadkarni, 48, was also charged as a sportsbook sub-agent. The gambling operation is estimated to have generated around $3 million, highlighting the serious implications of organized crime beyond its glamorization in popular culture.
Published: Apr 12 2025, 8 ameznews.inA US immigration judge has ruled that Palestinian activist Mahmoud Khalil can be deported, allowing the Trump administration to advance its efforts to remove the Columbia University student from the country following his March 8 arrest in New York City. Judge Jamee Comans of the LaSalle Immigration Court stated that her decision was based on a determination by Secretary of State Marco Rubio, who argued that Khalil's activism could harm US foreign policy interests, despite him not being charged with any crime. Khalil, who became a lawful permanent resident last year, remains in detention as his lawyers prepare to seek relief before the April 23 deadline. They argue that the deportation effort violates Khalil's First Amendment rights, contending that his criticism of US policy towards Israel is being mischaracterized as antisemitism. Khalil's supporters expressed distress after the ruling, while he maintained that he was subjected to unfair legal proceedings.
Published: Apr 12 2025, 6 ameznews.inPresident Donald Trump asserted on Friday that the US dollar will remain the "currency of choice" despite recent fluctuations linked to his tariff policies, which have caused investors to seek refuge in alternative currencies. Speaking to reporters while en route to his Florida estate, Trump expressed confidence in the dollar's strength, stating, "I think the dollar is tremendous." His comments come as the dollar experienced a significant decline, reaching its lowest value against the euro in over three years. The president's remarks reflect his ongoing efforts to bolster confidence in the US economy amid concerns over trade tensions and their impact on currency stability.
Published: Apr 12 2025, 6 ameznews.inIn a statement to reporters late Friday, President Donald Trump reaffirmed his belief in the US dollar's status as the "currency of choice," despite recent fluctuations that saw it drop to its lowest level against the euro in over three years. Speaking while en route to his Florida estate, Trump insisted, "We're always going to be... I think the dollar is tremendous," as investors sought refuge in alternative currencies amid uncertainty surrounding his administration's tariff policies. The comments come at a time when the dollar's stability is under scrutiny, raising questions about its future as a global economic benchmark. Trump's remarks reflect an ongoing confidence in the dollar, even as market dynamics shift in response to his economic strategies.
Published: Apr 12 2025, 7 ameznews.inU.S. special envoy Steve Witkoff met with Russian President Vladimir Putin in Moscow on Friday for over four hours of discussions aimed at resolving the ongoing Ukraine conflict. The Kremlin confirmed the meeting, highlighting its focus on "aspects of a Ukrainian settlement," and released a photograph of the two leaders shaking hands. Witkoff, who is also involved in Middle Eastern affairs, has been increasingly engaged in Russian matters. The talks took place at the presidential library in St. Petersburg, Russia's second-largest city, where Witkoff was seen leaving afterward. Meanwhile, Kirill Dmitriev, Putin's investment envoy, returned to a hotel in the city following the discussions. The meeting underscores ongoing diplomatic efforts to address the crisis in Ukraine amid heightened tensions.
Published: Apr 12 2025, 5 ameznews.inPresident Donald Trump defended his tariff policy on Friday, claiming it was "doing really well" despite China imposing a staggering 125 percent levy on US goods in response to escalating trade tensions. The announcement sent shockwaves through global markets, causing a decline in the dollar and a tumultuous day for stocks. After initially rolling back tariffs on other trade partners, Trump maintained optimism about reaching a deal with China, stating, "I think that we'll end up working out something that's very good for both countries." Meanwhile, Chinese President Xi Jinping asserted that China was "not afraid" and criticized Trump's tariffs as a "numbers game." Economists warn that these tariffs could lead to increased consumer prices and a potential global recession. As the situation unfolds, the European Union is preparing its own countermeasures, including potential tariffs targeting US tech firms.
Published: Apr 12 2025, 6 am
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