Nvidia says it's not expecting to sell any of its H20 chips to customers in China in the current quarter amid international trade tensions.
Why it matters: The company had agreed to give the U.S. 15% of the China sales of its H20 chips in exchange for export allowances — but Beijing has reportedly told Chinese companies not to buy them, concerned about their security and miffed about their downgraded specs.
The Department of Transportation will take over management of Washington, D.C.'s train hub, Union Station, multipleoutlets reported on Wednesday.
Why it matters: Union Station has been a focal point for the Trump administration's military deployment in D.C. Top members of the Trump administration — including Vice President Vance — bashedthe station's management and cast it as crime-ridden at an Aug. 20 press conference.
President Trump's attempt to fire Fed governor Lisa Cook is the latest example of the president using mortgage fraud investigations as a cudgel to threaten his political adversaries.
Why it matters: Trump could be setting a precedent that gives the president significant discretion to decide what meets the "for cause" standard for firing federal officials who have historically been protected from political intervention.
Uber has placed a lot of robotaxi bets lately, but the three-way deal it struck last month with Nuro and Lucid could be the most consequential — not just for the partners, but for the entire industry.
Why it matters: It's a high-profile experiment to figure out the economics of robotaxis and, perhaps more importantly, to identify a business model that can be profitable for all.
Federal Reserve governor Lisa Cook could file a suit over her firing as early as Wednesday in a case that could ultimately decide the limits of a president's control of the Fed.
Why it matters: While it would likely take months to be fully resolved, near-term decisions on the horizon will hold major consequences for America's tradition of central bank independence.
U.S. infrastructure investing is becoming unstable, particularly when it comes to renewable energy projects.
Driving the news: The Trump administration last week ordered a stop to work on an offshore wind farm in Rhode Island, even though 65 of the 85 turbines already are installed.
The AI boom should start to appear meaningfully in economic productivity numbers as soon as the first quarter of 2026, and Federal Reserve policymakers should place more weight on it, Treasury Secretary Scott Bessent said Wednesday.
Why it matters: The Trump administration is all-in on AI, and now that enthusiasm is bleeding into its laser focus on lowering interest rates.
The Trump administration has no plans to pursue a stake in Nvidia, but does intend to invest in industrial companies, Treasury Secretary Scott Bessent said Wednesday.
Why it matters: The White House has made clear it intends to take positions in companies across the economy, as it did with Intel.
Stock market investing is at record highs, with some new demographic trends: Younger people are investing earlier, and lower-income people are investing more, new research from the JPMorganChase Institute shows.
Why it matters: Those investing patterns come amid a decline in first-time home ownership, suggesting a shift in how young people are planning to build wealth, which could have serious policy and economic implications.
As long as interest rate cuts are coming and Nvidia reports solid earnings later Wednesday, investors seem willing to ignore the market risks that could come from President Trump trying to fire Fed governor Lisa Cook.
Why it matters: It's the latest example of equity market investors shrugging off any headwinds that come their way. The more that happens, the more stretched valuations get, and the more at risk this market may be.
President Trump's 50% tariffs on India took effect on Wednesday amid Indian officials urging citizens to buy more products made in the country.
Why it matters: The long-standing U.S. ally now faces some of the highest tariffs that Trump has imposed anywhere in the world, and the highest in Asia, over India's purchases of Russian oil.
