Congress rallied to pass a spending bill that ended the record-long government shutdown, but it came with a price: much of the legal cannabis industry.
The big picture: A last-minute provision in the spending bill criminalized many hemp-derived products, despite the objection of businesses, lobbying groups, and lawmakers with stakes in the $28 billion industry.
Dozens of food items will no longer face President Trump's sweeping global tariffs — including grocery staples like coffee, some fruits and orange juice.
Why it matters: The fresh exemptions — cheered by some industry groups — are aimed at addressing an affordability crisis that has worsened since the imposition of steep import taxes.
Former Federal Reserve governor Adriana Kugler was referred for investigation earlier this year for allegedly breaking the central bank's stock trading rules, per new financial disclosures released on Saturday.
Why it matters: The documents provide a backdrop for Kugler's surprise resignation in August, which opened up a vacancy for President Trump to further leave his mark on the Fed.
President Trump has touted tariffs as the key to unlocking America's Golden Age — and his rationale for how they'll do that constantly shifts.
Why it matters: Trump wields tariffs like an all-powerful multipurpose tool, but economists say his strategy isn't enough to address all of America's problems, especially if he's double-dipping into tariff revenues to fix cost of living issues, balance the trade deficit and reshore manufacturing.
Retailers are locked in a Thanksgiving turkey price war, cutting into margins to hold onto cost-conscious consumers.
Why it matters: Americans are feeling squeezed, with grocery prices about 30% higher than before the pandemic — and millions facing new food insecurity after the government's SNAP benefits freeze.
The Trump administration directed states last week to "take immediate steps" to ensure households receive full November SNAP benefits, but it's taking a week or longer to actually do so, some state SNAP offices told Axios.
Why it matters: The shutdown's disruption to SNAP has created turmoil for the millions of Americans enrolled in the program, many of whom are still stuck waiting to access their delayed payments.
Forget retaliation: To cut tariffs President Trump imposed on their country, the Swiss sent a delegation of industry tycoons bearing gifts — a special Rolex desktop clock, a 1-kilogram personalized gold bar, and loads of flattery.
Why it matters: Trump loves such pampering, and the word's out among nations and companies seeking his favor. Tributes fit for a king — especially gold — catch his eyes and his heart.
President Trump on Friday night issued an executive order dropping reciprocal tariffs on dozens of food items, including drinks, spices, fruits and meat.
Why it matters: The growing affordability crisis has become a political liability for the administration. Cutting tariffs is at least one way to potentially make groceries cheaper.
This is an extraordinarily delicate moment for America's central bank, as a seemingly routine decision — whether to cut interest rates next month — is exposing deep divides and a moment of flux in how the Federal Reserve operates.
The big picture: The immediate question is this: Should the Fed's policy committee cut rates for a third straight meeting in December to guard against further worsening of the job market, as a narrow majority of officials anticipated in September? Or is elevated inflation a more urgent concern?
Boeing will purchase up to 100,000 metric tons of carbon removal from Charm Industrial, a startup transforming forest wastes into "bio-oil" stored permanently underground.
Why it matters: It's Charm's first aviation deal amid growing emissions from flight — and an aerospace industry seeking climate solutions that can eventually reach a large scale.
Doug McMillon, president and CEO of Walmart Inc. during a massive expansion and technological revolution, will retire and be succeeded by John Furner, president and CEO of Walmart U.S.
Why it matters: Furner takes over the largest U.S. retailer at a crucial moment, with tariffs weighing on the economy and growing pressure from both consumers and the government over affordability.
Wall Street has now priced in some of the net effects of White House policies that have yet to take shape, from lower taxes to potential stimulus checks.
Why it matters: That leaves less potential upside for stocks when those policies actually materialize.
Why it matters: This is twilight-zone stuff, folks. For the No. 1 and No. 3 paid downloads, the artists, the music, the lyrics — the songs — aren't by real people. But real people love them.
President Trump's tariff policy was always in tension with domestic economic policy — the risk of higher costs versus the promise of lower prices — but as long as inflation remained under control, the tariffs mostly won out.
Artificial intelligence is rewriting the playbook for crime, from cheap deepfake scams and AI-written ransomware to mass identity hijacks and critical-infrastructure hacks.
Why it matters: This new class of AI-supercharged crime is putting lives and financial systems at risk. But police training, laws and cross-border tools aren't keeping up, futurists tell Axios.
