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The Latest Breaking News from Craig Shapiro

Lisa Cook Fights Trump's Attempted Firing As Documents Show Condo Labeled 'Vacation Home,' Raising Questions About Mortgage Allegations

Federal Reserve Governor Lisa Cook is challenging President Donald Trump's effort to remove her after documents surfaced indicating one of her properties was listed as a vacation home, casting doubt on allegations of mortgage misrepresentation.

Benzinga

Trump Administration Presses Appeals Court To Oust Fed Governor Lisa Cook Before Key FOMC Meeting

The Trump administration on Thursday urged the D.C. Federal Appeals Court to allow the firing of Federal Reserve Governor Lisa Cook to take effect before the central bank’s interest rate-setting meeting next week.

Benzinga

Trump Could 'Zimbabwify' America, Says Economist Paul Krugman: Warns Against 'Fiscal Dominance' of Monetary Policy

Economist Paul Krugman is raising the alarm against President Donald Trump’s attempts to destroy the Federal Reserve’s independence, in a push for personal control over monetary policy.

Benzinga

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Federal Reserve To Follow 'Slower Rate Cutting Cycle' Despite Trump's Pressure As Beige Book Dampens Sentiment: Don't Expect 50 Bps Cut Hints Shapiro

The Federal Reserve is signaling a more cautious approach to interest rate cuts, with its latest Beige Book indicating that “Economic activity was little changed since last release”.

Benzinga

Mark Cuban Asks If AI Kills Jobs, Why No Office Occupancy Decline? Trump AI Czar Says Fears 'Overhyped'

On Monday, Mark Cuban questioned why major office buildings in U.S. cities aren't seeing dramatic drops in occupancy despite concerns that white-collar layoffs and workforce reshaping are being driven by AI and automation.

Benzinga

Christopher Waller Supports 25 Bps September Cut After Dissenting For Same In July: Economist Asks Why Not 50 Bps This Time?

Federal Reserve Governor Christopher Waller signaled strong support for a 25 basis point interest rate cut at the central bank’s upcoming September meeting, reiterating a position he favored in July.

Benzinga

Trump's Attempt To Fire Lisa Cook Lacks Factual Or Legal Basis, Says Fed Governor's Lawyer: 'We Will Be Filing A Lawsuit…'

Federal Reserve Governor Lisa Cook will be filing a lawsuit to prevent her firing by President Donald Trump, according to a lawyer hired by the central bank official.

Benzinga

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Trump's Firing Of Lisa Cook Could Hand Him A Rare FOMC Majority That Could Block 'Regional Fed Presidents From Being Reappointed,' Says Craig Shapiro

President Donald Trump‘s firing of Federal Reserve Governor Lisa Cook on Monday could trigger a significant power shift within the central bank, potentially creating a Trump-appointed majority on its board and raising concerns over the future of regional Fed presidents, explained the macro strategist at the Bear Traps Report, Craig…

Benzinga

More Than 70% Of Americans Fear AI Could Cause Permanent Job Loss, A New Poll Shows. Two-Thirds Worry It Could Be Used To Fuel Political Chaos

Most Americans are uneasy about artificial intelligence, especially when it comes to jobs and national stability. A new Reuters/Ipsos poll found that 71% of U.S. adults are worried AI will put “too many people out of work permanently.”

Benzinga

Anthony Scaramucci Shares Warning About MAGA 'Going Marxist And Maoist' — Yale Professor Alleges 'Assault On Free-Market Capitalism'

Former White House Communications Director during President Donald Trump’s first term in office, Anthony Scaramucci, has endorsed a Fortune Magazine column warning that Trump and the MAGA movement were increasingly “going Marxist and Maoist.”

Benzinga

Economists Call Trump's BLS Pick 'Completely Unqualified' For The Job: '...Does Not Have Any Relevant Expertise'

President Donald Trump's nomination of Dr. EJ Antoni to lead the Bureau of Labor Statistics (BLS) is facing swift and intense backlash from prominent economists, who are questioning his qualifications and citing a record that includes only one citation for his academic work.

Benzinga

Microsoft Paper Warns AI Could Make Historians Extinct But Leave Embalmers Alone, Here's A List You Want To See

A new paper from Microsoft Corp. (NASDAQ:MSFT) outlines which jobs are most likely to be disrupted by generative AI and which ones are least affected.

Benzinga

Tim Cook's New Job Is Keeping Trump 'Happy,' Says Economist Justin Wolfers: 'Innovation Takes A Back Seat To Political Favoritism'

According to University of Michigan economist Justin Wolfers, in recent months, Apple Inc. (NASDAQ:AAPL) CEO Tim Cook has been spending far more time managing politics than pursuing new innovations.

Benzinga

Nvidia's China Revenue 'Is Far From Gone', But It Outmaneuvered US For Rare Earth In Exchange For AI Chips, Says Craig Shapiro

China has leveraged its dominance over rare earth elements to secure eased U.S. export controls on Nvidia Corp. (NASDAQ:NVDA) chips; however, this expert says that the world isn’t decoupling, it is just bartering.

Benzinga

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Apple Strikes $500 Million Deal With MP Materials To Reduce China Reliance On Critical Magnets

Apple Inc. (NASDAQ:AAPL) has signed a $500 million deal with MP Materials (NYSE:MP), a Pentagon-backed company, to secure a supply of rare earth magnets. This agreement is a strategic step to ensure a consistent supply of critical components and reduce reliance on China.

Benzinga

Trump's Tariffs, Tax Cuts, And Tensions With Brazil Stir The Pot: This Week In Economy

The past week has been a whirlwind of economic and political events. From record-breaking customs duty collections to billionaire investors casting doubt on tariff outcomes, the week was filled with intriguing stories. Here’s a quick recap of the top five stories that made headlines.

Benzinga

US 500% Tariff On Russia Can Rattle Energy Stocks And Have 'Major Negative Implications' On Global Economy, Says Craig Shapiro

As the U.S. Senate considers the Sanctioning Russia Act of 2025, economist Craig Shapiro has raised alarms about its potential to disrupt American markets and the global economy.

Benzinga

Trump Manages Inflation Like 'Boss Running A Protection Racket,' Says Craig Shapiro: 'You Can Jawbone Walmart, But Not The Rent'

Craig Shapiro, a macro strategist at The Bear Traps Report, says that President Donald Trump’s approach to inflation management is not that unlike “running a protection racket,” one that is built on coercion and intimidation, rather than the use of monetary tools.

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Benzinga

Craig Shapiro Slams Jerome Powell's Legacy Of 'Quiet Surrender' To Wall Street And The US Treasury: 'No Longer Serves The Public'

Macro strategist Craig Shapiro delivered a scathing critique of Fed Chair Jerome Powell’s performance over the years, pushing back against the growing narrative that casts his tenure in a positive light.

Benzinga

Jim Cramer Contradicts AI-Led Job Cuts At White Collar Firms As Cathie Wood Says It's 'Hurting Entry-Level Jobs:' Here's How Experts Debunk AI's Impact On Employment

Experts have been debating the artificial intelligence-driven impact on employment with contradicting views. While market veteran like Jim Cramer thinks that “AI is still not trusted,” others see trouble brewing in the labor market due to the automation of several human-led jobs.

Benzinga

China Showed Its Death Grip On Rare Earths During Trump Tariff War, But Craig Shapiro Says This $2 Billion Plan Will Secure US Supply: Here's How

As the U.S. faces a critical vulnerability in its supply chain concerning rare earth supply, economist Craig Shapiro asserts that this situation is fixable, and at a surprisingly manageable cost.

Benzinga

Trump's 'Bills Over Bonds' Strategy Can Spell Doom For The Dollar, Warns Craig Shapiro: 'Got Gold, Bitcoin?'

Leading macro strategist, Craig Shapiro, is warning that President Donald Trump’s proposal to lean more in favor of short-term Treasury bills could have major ramifications for the U.S. Dollar.

Benzinga

US Housing Market Is 'Not Just Broken, It's Rigged,' Says Craig Shapiro As Mamdani Vows To Build 200,000 Publicly Subsidized Homes, Freeze Rent In NYC

Economist Craig Shapiro has been calling for a national housing policy overhaul, as he believes the housing market is “rigged,” amid New York City mayoral candidate Zohran Mamdani‘s ambitious housing reform agenda.

Benzinga

AI Panic Feels Like 2008 Global Financial Crisis All Over Again, Shapiro Says As Retail Sales Plunge 4%

Retail spending on non-essential goods in the U.S. has slumped by 4% in early 2025, a stark reminder of the 2008 financial crisis, according to economist Craig Shapiro.

Benzinga

AI Will Disrupt 25% Of US Jobs By 2030—And The Fed Can't Save Them, Economist Warns

As artificial intelligence (AI) accelerates job displacement, economist Craig Shapiro warns that the Federal Reserve's traditional tool of interest rate cuts is ill-equipped to address the looming labor crisis.

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