The U.S. may impose significant tariffs on imported furniture in the coming months, President Trump said late Friday.
Why it matters: Furniture prices have already been rising, as it's one of the goods most immediately exposed to the sweeping global tariffs he imposed earlier this year.
Cloud security provider Netskope on Friday filed for an IPO, joining a growing number of tech companies planning to go public after Labor Day.
The big picture: Netskope is losing money, but that's been true of most 2025 tech offerings (minus Figma). What they've also had in common are climbing revenues.
President Trump on Friday told reporters that chipmaker Intel has agreed to sell around a 10% equity stake to the U.S. government. [Update: Intel confirmed the deal after market close]
Why it matters: This is part of Trump's new era of pay-me capitalism.
Secretary of Defense Pete Hegseth on Friday authorized National Guard members to carry firearms while helping law enforcement fighting crimes and homelessness in D.C., the Pentagon said.
The big picture: About 2,000 National Guard troops from D.C. and some red states have been deployed to the city following President Trump's executive order that aimed to crack down on crimes despite data that shows otherwise.
Investors got what they were betting on Friday —but perhaps not as much as they secretly hoped—as Fed chair Jerome Powell indicated the central bank's policymakers were open to cutting interest rates at their meeting next month.
Why it matters: Hopes for lower rates should keep the market's summertime rally going, after weakness in the jobs market and worries about AI spending slowed the bulls.
JACKSON HOLE, Wyo. — Federal Reserve chair Jerome Powell opened the door to cutting interest rates in a much-anticipated speech Friday. He didn't fully walk through, though.
The big picture: Powell described a complex mix of forces reshaping the economy, concluding that "the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," suggesting that a rate cut could arrive as soon as the Fed's mid-September meeting.
As Gen Zers move away from alcohol-centric events, a new —quieter — type of partying is on the rise.
The big picture: The "soft clubbing" trend features quieter, less chaotic and earlier events, such as dance parties at coffee shops or wellness-based activities like meditation and yoga, giving 20-somethings a more authentic way to connect with their peers and meet new people.
The era of pay-me capitalism has arrived, and companies are quickly learning lessons about what happens if they don't comply.
Why it matters: Just seven months into his second presidency, Trump has broken with more than a century of conservative orthodoxy and taken a maximalist view of presidential intervention in the economy.
