The past week was filled with high-stakes economic predictions, political confrontations, and revealing corporate disclosures. From economist Peter Schiff sounding the alarm on potential Federal Reserve missteps to JD Vance criticizing Vice President Kamala Harris over a controversial Chinese battery plant, the news cycle was anything but dull. Here’s a closer look at the top stories.
Economist Peter Schiff Warns of Fed Misstep
As the dollar weakens in anticipation of Fed rate cuts, renowned economist Peter Schiff voiced his concerns about the potential inflationary impact of a weaker dollar. Schiff’s warning comes as the U.S. dollar hit an eight-month low against the Swiss franc.
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JD Vance Criticizes Kamala Harris Over Chinese Battery Plant
Republican vice presidential candidate J.D. Vance expressed strong opposition to the planned establishment of a Chinese battery plant in Michigan, attributing the decision to Democratic policies. Vance accused Vice President Kamala Harris of enabling Chinese battery maker Gotion to access clean-energy companies.
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See Also: Wall Street On Wait-and-Watch Mode Ahead Of Nvidia Earnings
Dollar General’s Financial Struggles
Dollar General Corp. DG announced disappointing second-quarter earnings, attributing the results to financially strained lower-income consumers. The discount retailer’s core customers, primarily households earning less than $35,000 annually, are reportedly feeling more financially pressured than six months ago.
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Former Trump Rival Warns Against Kamala Harris’ Economic Policies
Vivek Ramaswamy, a former Republican presidential candidate and Donald Trump rival, criticized Kamala Harris‘ economic agenda, particularly her proposed price controls, citing the failures of such policies in other countries.
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Kamala Harris’s Lead Over Trump On Economy
Nobel Prize-winning economist Paul Krugman highlighted a Michigan survey revealing that Vice President Kamala Harris is leading Former President Donald Trump on economic issues. The survey indicates that Harris is favored over Trump on the economy by a margin of 41-38.
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