Schiff Demands Bessent's Resignation Amid $5K Dividend Claims
Peter Schiff has called for the resignation of Treasury Secretary Scott Bessent over claims that he promised $5,000 in dividends. Bessent stated that the Treasury Department is examining whether congressional approval is needed for these payments, but Schiff dismissed this and demanded Bessent's resignation.
The S&P 500 could see a 30% plunge by 2027 as the artificial intelligence bubble enters its late stages, according to Capital Economics. Chief economic adviser John Higgins stated that several indicators point to this outcome.
Stocks sank after Federal Reserve Chair Kevin Warsh delivered a hawkish message during his first post-hike press conference. He emphasized the Fed's commitment to fighting inflation and stated that 'inflation is a choice, and today we took a step in delivering it.'