US government shutdown day 10: White House begins mass federal layoffs; Trump labels job cuts as ‘democrat-oriented’

The White House budget office announced Friday that mass layoffs of federal employees have begun, as US President Donald Trump’s administration increases pressure on Democrats amid a government shutdown entering its 10th day.Office of Management and Budget Director Russ Vought confirmed on X that “RIFs have begun,” referring to reduction-in-force plans to shrink the federal […]

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Bond Market is Upended by Trump’s Tariffs

The bedrock of the financial system trembled this week, with government bond yields rising sharply as the chaotic rollout of tariffs shook investors’ faith in the pivotal role played by the United States in the financial system. U.S. government bonds, known as Treasuries because they are issued by the U.S. Treasury, are backed by the […]

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