Latest news with #TruthSocial
Mint
14 minutes ago
- Business
- Mint
‘Dumbest': Donald Trump alleges Jerome Powell costing US hundreds of billions as Fed keeps rates steady
Donald Trump on Thursday called Federal Reserve Chairperson one of the 'most destructive' people in the US government who is costing the country billions of dollars. In a series of posts on Truth Social after the Fed's decision of not cutting interest rates once more, Trump called the central bank boss 'Too Late Jerome Powell', labelling him as an 'American Disgrace'. ''Too Late' Jerome Powell is costing our Country Hundreds of Billions of Dollars. He is truly one of the dumbest, and most destructive, people in Government, and the Fed Board is complicit. Europe has had 10 cuts, we have had none,' he said. 'We should be 2.5 Points lower, and save $BILLIONS on all of Biden's Short Term Debt. We have LOW inflation! TOO LATE's an American Disgrace!,' Trump added. In line with market expectations, the US Federal Reserve on Wednesday decided to keep the federal funds rate unchanged at 4.25-4.50 per cent. Shortly before the FED's decision, Donald Trump claimed that Jerome Powell is costing Americal billions of dollars, calling him the 'WORST'. 'Too Late—Powell is the WORST. A real dummy, who's costing America $Billions!' he said. Speaking to reporters at the White House, Trump said that the man he put in the role during his last term had done a poor job. He also mused about appointing himself to lead the US central bank, based on his dissatisfaction with Powell. 'Maybe I should go to the Fed,' Trump said. 'Am I allowed to appoint myself at the Fed? I'd do a much better job than these people.' The Federal Reserve on Wednesday decided to keep its interest rates unchanged at 4.25-4.50 per cent, in line with economists' expectations. Donald Trump has long criticised Fed chairperson Jerome Powell and has made it clear he will not retain him once is term ends in about nine months. Powell, however, dismissed reporters' questions about the messages from the White House. 'We think we're in a good place,' he said, when asked about Trump's remarks, adding, 'That is what matters to us.' He also told reporters that the central bank would make better decisions if it waited a few months to understand how tariffs impact inflation, spending and hiring, in a sign that the next rate adjustment could take some time to materialise.
Al Etihad
27 minutes ago
- Business
- Al Etihad
Trump extends deadline for TikTok sale by 90 days
19 June 2025 20:00 WASHINGTON (AFP)President Donald Trump announced Thursday he had given social media platform TikTok another 90 days to find a non-Chinese buyer or be banned in the United States. "I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025)," Trump posted on his Truth Social platform, putting off the ban for the third time.
Newsweek
28 minutes ago
- Business
- Newsweek
TikTok Ban Update: When Donald Trump's Latest Extension Will Expire
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. TikTok will remain online in the United States for at least three more months after President Donald Trump extended the deadline to force a sale of the popular app from its Chinese parent company. The new cutoff date is now September 17, giving users temporary relief from a looming ban. Trump announced Wednesday on Truth Social that he signed an executive order extending the deadline. ByteDance, the company behind TikTok, now has 90 additional days to reach a deal to divest from Chinese ownership. If no deal is finalized by the new deadline, TikTok could be pulled from U.S. app stores or shut down entirely for American users. With TikTok facing increasing pressure from lawmakers over national security concerns, millions of creators and fans have been bracing for potential disruption. The delay means content creators can continue posting, livestreaming, and earning income through the app, at least for the summer. Illustrative image of a person holding a phone displaying the TikTok logo in front of President Donald Trump. Illustrative image of a person holding a phone displaying the TikTok logo in front of President Donald Trump. VCG/VCG via AP Has TikTok Been Banned? TikTok hasn't been banned in the U.S. The Protecting Americans from Foreign Adversary Controlled Applications Act, signed into law under former President Joe Biden, set a deadline for ByteDance to sell the app or face restrictions. It gave ByteDance until January to comply, but that deadline has now been extended three times. "I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025)," Trump wrote on Truth Social. "Thank you for your attention to this matter!" The act was passed last year due to concerns that China could access American user data through the app. Did Donald Trump Extend the TikTok Ban? This week, Trump signed an order giving TikTok's parent company 90 more days to secure a buyer or restructure in a way that removes Chinese ownership. Without a successful deal, the app could be blocked from operating in the U.S. It also opens the door to possible penalties or shutdowns through app stores and internet services following the September 17 deadline. The latest extension is the third such delay issued by the Trump administration. How Did TikTok Respond? In a statement posted to its website, TikTok said: "We are grateful for President Trump's leadership and support in ensuring that TikTok continues to be available for more than 170 million American users and 7.5 million U.S. businesses that rely on the platform as we continue to work with Vice President Vance's Office." List of Apps to Use as Alternatives to TikTok If TikTok goes dark, creators and viewers still have options to keep sharing and discovering short-form videos. Here are some of the top alternatives: YouTube Shorts : Built into the main YouTube app, Shorts offers a similar vertical video experience with strong monetization tools for creators. : Built into the main YouTube app, Shorts offers a similar vertical video experience with strong monetization tools for creators. Instagram Reels : Instagram's short-form video feature is closely modeled on TikTok and benefits from built-in access to a massive audience. : Instagram's short-form video feature is closely modeled on TikTok and benefits from built-in access to a massive audience. Lemon8 : An official sister app to TikTok, aimed at providing a similar experience to users. : An official sister app to TikTok, aimed at providing a similar experience to users. RedNote : A growing social media platform, particularly popular in China. : A growing social media platform, particularly popular in China. Triller: Launched in 2015, Triller offers editing tools similar to TikTok but has AI integration on the editing platform. Each platform has unique features, and some TikTok creators already cross-post content to expand their reach. For now, TikTok continues to operate normally. The app remains available in the App Store and Google Play, allowing users to continue posting, commenting, and streaming as usual.
Time of India
43 minutes ago
- Business
- Time of India
Fox News poll sends Trump into meltdown mode as approval tanks and loyalty from his base wavers
Donald Trump is outraged after a new Fox News poll revealed that his approval ratings are plummeting and his once-solid and loyal base may be shifting. The president lashed out at Fox News on Truth Social, accusing the network of bias. Why is Donald Trump furious with Fox News? The poll released by Fox News reveals rising dissatisfaction among independents and even Republicans. The majority of voters are eight points less satisfied with Trump's performance during his second term, according to a Fox News poll published on Wednesday. Donald Trump's reaction demonstrates the growing rift between his campaign and the once-friendly network as his support dwindles. President Trump took to Truth Social on Thursday and called the network's pollsters "always wrong and negative." Live Events ALSO READ: Trump bypasses Congress and approves imminent Iran strike within hours — shockwaves across Washington He wrote, 'The Crooked FoxNews Polls got the Election WRONG, I won by much more than they said I would, and have been biased against me for years." Donald Trump stated that MAGA despises the network, and he also hates fake pollsters; "they are among the worst," he continued, as per a report by TNR. What's hurting Trump's approval most? The majority of voters remain negative about the status of the economy, according to the poll. The new poll showed his approval rating declining, particularly on inflation, immigration, and foreign policy. Most voters, regardless of their political inclinations, are unhappy with the president's handling of immigration and foreign policy because of his handling of the anti-ICE demonstrations in Los Angeles and the breakdown of diplomatic talks with Iran, as quoted in a report by TNR. Is his base starting to turn on him? Consumers and business owners also began to feel the effects of the president's controversial tariffs. The Federal Reserve only last Tuesday predicted higher inflation. In particular, Trump's job approval is 30 points lower than his performance on inflation, with only 34% of voters approving of his price-level performance. Americans are overwhelmingly against the "One Big Beautiful Bill Act," a comprehensive package of tax cuts and health care "reforms" that congressional Republicans have pushed hard, according to the poll. The poll indicates that almost three out of four independents and the overwhelming majority of Democrats are against the measure. FAQs Why is Donald Trump going after Fox News over this poll? Donald Trump claims the poll is biased and "always wrong," but it is widely regarded as credible and reflects rising voter dissatisfaction with his handling of inflation and key policies. What is driving Trump's declining approval? Voters are critical of his performance on inflation, immigration, and foreign policy. His economic policies and foreign relations mistakes have sparked criticism from across the political spectrum.
Al-Ahram Weekly
an hour ago
- Business
- Al-Ahram Weekly
Trump extends deadline for TikTok sale by 90 days - Tech
President Donald Trump announced Thursday he had given social media platform TikTok another 90 days to find a non-Chinese buyer or be banned in the United States. "I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025)," Trump posted on his Truth Social platform, putting off the ban for the third time. A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's January inauguration. The Republican, whose 2024 election campaign relied heavily on social media, has previously said he is fond of the video-sharing app. "I have a little warm spot in my heart for TikTok," Trump said in an NBC News interview in early May. "If it needs an extension, I would be willing to give it an extension." TikTok on Thursday welcomed Trump's decision. "We are grateful for President Trump's leadership and support in ensuring that TikTok continues to be available for more than 170 million American users," said a statement issued by the platform. Digital Cold War? Trump said in May that a group of purchasers was ready to pay TikTok owner ByteDance "a lot of money" for the video-clip-sharing sensation's US operations. Trump has repeatedly downplayed the risks that TikTok is in danger, saying he remains confident of finding a buyer for the app's US business. The White House announced Monday that Trump would throw the wildly popular video-sharing app, which has almost two billion global users, another lifeline. During this new grace period, the administration will work "to ensure this deal is closed so that the American people can continue to use TikTok with the assurance that their data is safe and secure," the administration said in a statement. The president is "just not motivated to do anything about TikTok," said independent analyst Rob Enderle. "Unless they get on his bad side, TikTok is probably going to be in pretty good shape." Trump had long supported a ban or divestment, but reversed his position and vowed to defend the platform after coming to believe it helped him win young voters' support in the November election. Motivated by national security fears and a belief in Washington that TikTok is controlled by the Chinese government, the ban took effect on January 19, one day before Trump's inauguration, with ByteDance having not attempted to find a suitor. TikTok "has become a symbol of the US-China tech rivalry; a flashpoint in the new Cold War for digital control," said Shweta Singh, an assistant professor of information systems at Warwick Business School in Britain. The president announced an initial 75-day delay of the ban upon taking office. A second extension pushed the deadline to June 19. Now the deadline is September 17. Tariff turmoil Trump said in April that China would have agreed to a deal on the sale of TikTok if it were not for a dispute over his tariffs on Beijing. ByteDance has confirmed talks with the US government, saying key matters needed to be resolved and that any deal would be "subject to approval under Chinese law." Possible solutions reportedly include seeing existing US investors in ByteDance roll over their stakes into a new independent global TikTok company. Additional US investors, including Oracle and private equity firm Blackstone, would be brought on board to reduce ByteDance's share in the new TikTok. Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally. Uncertainty remains, particularly over what would happen to TikTok's valuable algorithm. "TikTok without its algorithm is like Harry Potter without his wand -- it's simply not as powerful," said Forrester Principal Analyst Kelsey Chickering. Despite the turmoil, TikTok has continued with business as usual. The platform on Monday introduced a new "Symphony" suite of generative artificial intelligence tools for advertisers to turn words or photos into video snippets for the platform. Follow us on: Facebook Instagram Whatsapp Short link:
