
The impact of America's "peace through strength" strategy on Iran
WASHINGTON — President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time before settling on billionaire investor Scott Bessent as his treasury secretary nominee. The Republican not only wanted someone who jibes with him, but an official who can execute his economic vision and look straight out of central casting while doing so. With his Yale University education and pedigree trading for Soros Fund Management before establishing his own funds, Bessent will be tasked with a delicate balancing act. Trump expects him to help reset the global trade order, enable trillions of dollars in tax cuts, ensure inflation stays in check, manage a ballooning national debt and still keep the financial markets confident. “Scott will support my Policies that will drive U.S. Competitiveness, and stop unfair Trade imbalances, work to create an Economy that places Growth at the forefront, especially through our coming World Energy Dominance,” Trump said in a statement. But for all the confidence, Trump was cautious in picking the 62-year-old, a sign that he understood the stakes after winning a presidential election largely shaped by inflation hitting a four-decade peak in 2022. He felt comfortable making faster decisions on Fox News host Pete Hegseth for defense secretary, Florida Sen. Marco Rubio for secretary of state and Robert F. Kennedy Jr. for health and human services secretary. His choice of Bessent went against the opinion of billionaire Elon Musk, who is co-leading Trump’s advisory panel known as the “Department of Government Efficiency” initiative. The head of Tesla and SpaceX posted on his social media site X before Trump’s selection that Bessent would be “a business-as-usual choice.” The pick also showed the internal tensions of a candidate who won by appealing to blue-collar voters but who depends on an administration staffed by those, who like Trump, enjoy a life of extreme wealth. Senate Finance Committee Chair Ron Wyden, D-Ore., was unimpressed by Bessent. “Donald Trump pretends to be an economic populist, but it wouldn’t be a Trump Treasury Department without a rich political donor running the show,” Wyden said in a statement rushed out immediately after the announcement Friday evening. “When it comes to the economy, the government under Trump is of, by, and for the ultra-wealthy.” Bessent caught Trump’s attention during the campaign with his ideas for 3% growth, a reduced budget deficit equal to 3% of gross domestic product and 3 million additional barrels a day of oil production. Larry Kudlow, the TV host and a director of the White House National Economic Council during Trump’s initial term, supported him. But critics in Trump’s orbit said Bessent was weak on tariffs. Another onetime contender, Howard Lutnick, the billionaire CEO of the investment firm Cantor Fitzgerald, was more pro-tariffs but less reassuring to some business leaders. Trump picked him to head the Commerce Department and take the lead on trade issues. Trump also looked at other candidates, including former Federal Reserve governor Kevin Warsh, Marc Rowan, the chief executive of Apollo Global Management, and Sen. Bill Hagerty, R-Tenn. Trump’s decision on his treasury chief is tied in part to most Republican voters’ biggest motivation for returning him to the White House: the state of the U.S. economy and the pressure from high prices. According to AP VoteCast , an early November survey of about 120,000 voters nationwide, about 3 in 10 voters said they wanted total upheaval in how the country is run. Bessent has been deeply critical of President Joe Biden’s economic policies, saying in remarks at the conservative Manhattan Institute that he was “alarmed” by the size of government spending and deficits and that Biden had embraced a “central planning” mindset that he thought belonged on “the scrap heap of history.” Biden, for his part, chose Janet Yellen, the former Federal Reserve chair, to be his treasury secretary, relying on her credibility as an economist as his administration successfully pushed for $1.9 trillion in pandemic aid in 2021. But inflation jumped as the United States recovered from pandemic shutdowns, driven by supply chain challenges, global conflict and — according to Biden administration critics — an excessive amount of pandemic aid. Government officials and economists are uncertain about what Trump would prioritize. The Republican campaigned on jacking up tariffs against China and other trade partners. But people in his economic orbit privately insist that what he cares about are fair terms in which other countries such as China don’t disadvantage the United States by subsidizing industries, manipulating currencies and suppressing their own workers’ wages. The president-elect wants to extend and expand his 2017 tax cuts, many of which are set to expire after 2025. He’s also proposed an array of tax cuts, such as no taxes on tips or overtime pay or Social Security benefits, that would create possible deficit increases. The Committee for a Responsible Federal Budget, an independent fiscal watchdog, estimated that Trump could possibly add between $1.7 trillion to $15.6 trillion to projected deficits over 10 years, a sign of the uncertainty regarding his economic plans. The economist Olivier Blanchard, a senior fellow at the Peterson Institute for International Economics, this week laid out the contradictions of “Trumponomics.” Deficit-funded tax cuts and tariff hikes could be inflationary, yet Trump won November’s election in large part because of voter frustration with inflation. There’s also his promise of deportations of unauthorized immigrants that could lower employment, though it’s not clear what Trump will do once in office. “The U.S. should be thinking about reducing the deficit, quite apart from Trump,” Blanchard said in a webcast. “Trump is probably going to make it worse.” Trump’s treasury secretary might ultimately face the additional responsibility of trying to pressure Fed Chair Jerome Powell to do as Trump wants, since the inflationary pressures outlined by Blanchard likely mean the Fed would try to slow growth to keep inflation from overheating, likely upsetting Trump. “The risk of a conflict between the Trump administration and the Fed is very high,” Blanchard said in a webcast.
With the reborn Madera Community Hospital in January 2025, Madera County has much to be thankful for. Other large projects in the pipeline include Gunner Ranch, “Village D” and North Fork Mono Casino & Resort. Adobe Stock Image The Nov. 29 print edition of The Business Journal included economic forecasts for each of the four counties we cover. We will be sharing them throughout the week. There is an air of positivity for the Madera County business community as the New Year rings closer. Despite challenges in the ag sector, major projects are coming or making significant progress in 2025. And then there’s the matter of a beloved hospital. The Highway 41 corridor has been ripe with activity, said Bobby Kahn, interim executive director of the Madera County Economic Development Commission (MCEDC). This past August, Valley Children’s Healthcare announced plans for “The Hill,” a 220-acre, mixed-used development on its main campus. It will have a mix of health care space, housing, commercial, recreation, office and hospitality. Kahn said in following with the 1,135-acre Gunner Ranch West Specific Plan, infrastructure work across the street from Valley Children’s Hospital is anticipated to start in the next 12 to 24 months. The plan envisions a medical campus that will provide significant medical services and opportunities, with an array of commercial uses, including a regional commercial center and a system of parks, trails and open space. The plan proposes development of up to 2,840 residential units, more than 2 million square feet of regional commercial uses, 751,000 square feet of medical office and related services, 1.1 million square feet of hospital and related services, community facilities, elementary schools, and a community/government center. The plan also calls for 72 acres of open space and parks, and a 62-acre wastewater treatment plant. Perhaps the most symbolic victory for Madera County is the return of Madera Community Hospital, which closed its doors in January 2023 and filed for bankruptcy protection. The hospital received the first $15 million installment of a total $57 million emergency loan from the Distressed Hospital Loan Program. The funds are to be used for improvements such as updating patient equipment and operational expenses including hiring and training. Kahn said the hospital is scheduled to open on Jan. 13, 2025, under new operator American Advanced Management from Modesto. American Advanced Management has been hosting job fairs to fill more than 200 staff positions (not including doctors). Of those, 135 positions have been filled. “As it opens, they will continue to staff-up and grow, adding more and more services,” Kahn said. “That will be huge for the City of Madera and the surrounding area. The health industry is known for higher wages, and those are industries you’d like to see in your community. The Riverstone development already has more than 1,000 homes built, and its commercial development mix includes Dutch Bros, a couple of restaurants and retailers. A 2025 opening of Riley’s Pub is expected at Riverwalk, an office plaza on the corner of Highway 41 and Avenue 12. The Tesoro Viejo community has plans for about 5,200 homes, with more than 1,000 already built. Across from Tesoro Viejo on Avenue 15 and Highway 41, there are plans for a Starbucks. There is also the “Village D” Infrastructure Plan, located on Avenue 16 and Road 23, with the project covering 1,860 acres and including 10,783 housing units, as well as commercial and public facilities, recreation and open space. The project is estimated to be built-out over a 20-year time span, Kahn said. Recently, a closed Church and Dwight Co. food supplement manufacturing on Avenue 12 near Road 32 was purchased by Vezina Industries, a Madera manufacturer specializing in windows, doors and HVAC solutions. Along with the homegrown expansion, the area is getting attention from outside the area, though nothing has been finalized. “We are getting a lot of looks now from national tenants,” Kahn said. “Madera is on the map. I think we will see continual retail growth in the City of Madera.” A major project in the area is the North Fork Mono Casino & Resort, off of Avenue 18 and Road 23, which broke ground in September. Kahn said there is hopes that the casino portion will open by late 2025 or early 2026. The first phase will be construction of the casino, followed by the resort, with a total construction timeline spanning five to ten years. In August, the new AutoZone distribution center, located between Highway 99 and the Chowchilla Airport, debuted with 500,000 square feet, creating 200-300 new jobs. This season provided big, rainy storms and high temperatures, which presented a challenge for some crops. Kahn noted the price of almonds remains soft, and grape growers still face challenges as wine consumption drops. He predicts almond orchards will continue to be pushed out, especially the older ones. Wineries are not seeking out grape contracts like they used to, and the raisin market is “mediocre” from a pricing perspective, Kahn said. He also noted that the dairy industry continues to struggle with pricing “I think ag in 2025 is still going to be a challenge for most commodities, but if you’re a farmer that’s positioned right, and not taking on a lot of debt, you should be OK,” Kahn said. This month, Kristina Gallagher was named as the new executive director of the MCEDC, coming from a background in in local government advocacy, public policy, and community engagement with the California State Association of Counties. Gallagher said she will look to Kahn’s experience for guidance, as well as the community. “I’m looking to be very active with businesses and real estate and find out how to help build infrastructure into the two cities [Madera and Chowchilla] and the county,” Gallagher said. “In a year or two, I hope to have a 5-year plan going — something we could put down with the executive committee, and businesses and other local partners.” While millions flock from all over the world to see Madera County’s natural landscapes, most notably Yosemite National Park, the park’s reservation system did cause a dip in visitors when it was implemented last year, said Rhonda Salisbury, CEO of the Southern Yosemite Visitors Bureau. The first and second quarters of 2024 saw high levels of tourism that waned off after the Yosemite reservations set in. “It hurt the economy quite a bit,” Salisbury said. “We are expecting anywhere from a 10-20% drop in hotel occupancy from last year.” The reservation system did provide a small boost for local tour operators, businesses and restaurants as more people waited in nearby towns before they could enter the park. Salisbury said Yosemite National Park has not released its reservation system for 2025, but she assumes there will be one. She hopes 2025 will be another test year — and not a permanent fixture — for the reservation system, and that it’s less aggressive than 2024. She said the park was pushing away 700 visitors that didn’t have a reservation each day. The bureau has sent letters to Washington, D.C., with hopes to find the best system. Darren Rose, CEO of the Building Industry Association of Fresno/Madera Counties, said much remains to be seen in 2025, considering falling interest and mortgage rates. “I think we will continue to see building activity, and a lot of it depends on how things unfold with the new administration,” Rose said. If implemented, Trump’s proposed tariffs will increase prices on construction inputs, such as in lumber, concrete, and other items used to build homes. Those increases in costs will be put into the purchase price and passed on to home buyers. Even though prices for nearly everything has gone up, builders continue to build homes. “All of my builders are anticipating growth, and we are excited about that, but we have to see how things unfold with the economy,” Rose said. The Nov. 29 print edition of The Business Journal included A national staffing firm based in Fresno is hosting a A new report shows that the City of Fresno is The Nov. 29 print edition of The Business Journal included5 top tech gifts for the holidays
Recursion Pharmaceuticals CEO sells $285,600 in stockNone
Able View Global Inc. ( NASDAQ:ABLV – Get Free Report ) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 34,600 shares, a growth of 33.6% from the November 30th total of 25,900 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 15,200 shares, the days-to-cover ratio is currently 2.3 days. Able View Global Stock Down 7.9 % NASDAQ:ABLV opened at $0.68 on Friday. The firm’s 50-day moving average price is $0.82 and its 200-day moving average price is $1.04. Able View Global has a 1-year low of $0.55 and a 1-year high of $3.94. About Able View Global ( Get Free Report ) See Also Receive News & Ratings for Able View Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Able View Global and related companies with MarketBeat.com's FREE daily email newsletter .Hisar: With marriage season in full swing, Hisar superintendent of police (SP) Shashank Kumar Sawan has said an FIR will be registered against any DJ found playing music at a function after 10pm. He warned similar action against banquet hall and hotel owners if a second violation is reported from their property. The SP has instructed heads of all police stations and posts to be strict on those using loudspeakers at night without permission. The SP said all police officers should instruct owners of banquet halls, hotels and resorts in their respective areas that there is a complete ban on playing DJ after 10pm. After the SP’s instructions, Hisar City police station arrested a DJ operator from a wedding ceremony with a laptop and amplifier. After a complaint by ASI Vinod Kumar, an FIR has been registered against DJ operator Deepu, a resident of Azad Nagar, Hisar, under relevant sections of the BNS. We also published the following articles recently Mumbai Cyber Police registers FIR against man for false EVM tampering claims Mumbai Cyber Police have filed an FIR against Syed Shuja for falsely claiming to hack EVMs. Shuja, featured in a circulating video, alleged manipulation of Maharashtra election EVMs. The Election Commission dismissed his claims as baseless, echoing a similar 2019 incident in Delhi. Investigations are underway to identify Shuja's potential collaborators in India. Police warn courier agents against drug peddling Trichy police are cracking down on the rising misuse of prescription drugs among youth, particularly analgesic tablets, by targeting courier services aiding peddlers. Investigations revealed that these drugs are being shipped from other states, prompting police to mandate stricter verification of consignments. Over 7,000 tablets have been seized this year, including a recent haul of 6,000. Fake caste certificate: FIR to be registered against three Indore district administration has ordered an FIR against three individuals involved in a fake caste certificate racket. An investigation revealed Harshit Sharma, a public service centre operator, issued certificates illegally, accepting bribes and bypassing procedures. He collaborated with middleman Hardik Rashinkar and another operator, Saragam Rawat. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .
Lee Enterprises announced a partnership Friday morning with Perplexity, the AI search engine, through the company’s Publishers’ Program. This collaboration underscores Lee’s commitment to advancing local journalism by integrating innovative AI solutions that enhance content delivery, deepen audience engagement, and create new revenue opportunities, according to a news release. "By leveraging Perplexity’s advanced AI capabilities, Lee aims to redefine how communities interact with local news and advertising, offering personalized content experiences and opening new avenues for local businesses to connect with their audiences," the release continued. The partnership between Lee Enterprises and Perplexity focuses on two key initiatives: • Advertising Innovation: Utilizing AI technology to empower local businesses with data-driven advertising solutions, optimizing their reach, and ensuring campaigns resonate with community needs. • Future-Ready Strategies: Collaborating on scalable innovations to strengthen local journalism, explore new content monetization opportunities, and support advertisers in an evolving digital landscape. “AI is reshaping the business models of industries around the world, and journalism is no exception,” said Kevin Mowbray, CEO at Lee Enterprises. “This partnership with Perplexity is a bold step forward in embracing change. By integrating AI into our operations, we’re excited to transform how we deliver news, support our advertisers, and engage with readers in ways that were never possible before. This is about creating a future where trusted local journalism thrives in the digital age.” Runners climb the Brady Street Hill as the 50th Quad City Times Bix 7 kicks-off. Runners leave the mark in the eight-year-old division at the Arconic Junior Bix on Friday, July 26, in Davenport. Theodore Schnekloth, 6, takes off in the Arconic Jr. Bix on Friday, July 26, in Davenport. A young runner takes a much-deserved break with some snacks after the Arconic Jr. Bix on Friday, July 26, in Davenport. Raelynn Fuhlman, 7, of Silvis, receives some help as she finishes the race at the Arconic Jr. Bix on Friday, July 26, in Davenport. Volunteers hand out medals to participants as they finish the Arconic Jr. Bix on Friday, July 26, in Davenport. A volunteer hands out medals to the six-year-old runners medals at the Arconic Jr. Bix on Friday, July 26, in Davenport. Two members of the crowd peek out from the race barricade on Fourth Street at the Arconic Jr. Bix on Friday, July 26, in Davenport. Conner Byrd, 11, of North Liberty, crosses the finish line with an entourage of Bix Buddies from the Arconic Jr. Bix on Friday, July 26, in Davenport. Young runners leave the mark along Fourth Street at the Arconic Jr. Bix on Friday, July 26, in Davenport. Friends and family cheer on runners at the Arconic Jr. Bix on Friday, July 26, in Davenport. The crowd cheers on runners at the Arconic Jr. Bix on Friday, July 26, in Davenport. The 7-year-old division participants elbow their way out from the starting line at the Arconic Jr. Bix on Friday, July 26, in Davenport. Racers on the mark at the Arconic Jr. Bix on Friday, July 26, in Davenport. Volunteers hand out medals to runners as they cross the finish line at the Arconic Jr. Bix on Friday, July 26, in Davenport. Participants run the Arconic Jr. Bix down Fourth Street on Friday, July 26, in Davenport. Young runners wait on the mark at the Arconic Junior Bix on Friday, July 26, in Davenport. A volunteer leads the runners to the finish line at the Arconic Jr. Bix on Friday, July 26, in Davenport. The 7-year-old division participants are anxious to start running at the Arconic Jr. Bix on Friday, July 26, in Davenport. A volunteer hands out medals to the 6-year-old runners medals at the Arconic Jr. Bix on Friday, July 26, in Davenport. A boy hitches a ride at the Arconic Jr. Bix on Friday, July 26, in Davenport. Runners in the six-year-old division cross the finish line at the Arconic Jr. Bix on Friday, July 26, in Davenport. Guests stay hydrated at the Arconic Jr. Bix on Friday, July 26, in Davenport. A group of 11-year-olds run the Arconic Jr. Bix on Friday, July 26, in Davenport. A young guest watches the Arconic Jr. Bix from a comfortable height on Friday, July 26, in Davenport. A family encourages a runner as he nears the finish line at the Arconic Jr. Bix on Friday, July 26, in Davenport. Nathan Paustian, 12, of Durant, receives some encouragement from the crowd at the Arconic Jr. Bix on Friday, July 26, in Davenport. Hugh Thomas, 10, of Davenport, sticks his hand out for high-fives from the crowd at the Arconic Jr.Bix on Friday, July 26, in Davenport. Eleven-year-old runners leave their mark at the Arconic Jr. Bix on Friday, July 26, in Davenport. Runners run into the sunset at the Arconic Jr. Bix on Friday, July 26, in Davenport. A young spectator high-fives an Arconic Jr. Bix racer during the six-year-old race on Friday, July 26, 2024. Jr. Bix racers grab post-race popsicles in the Quad-City Times parking lot on Friday, July 26, 2024. Six-year-old Obed Toto, the Garfield Elementary School Running Club's top "Elite" runner for the 2023-24 school year, poses after the Arconic Jr. Bix race on Friday, July 26, 2024. Miguel Cedillo, 9, of Bettendorf, high-fives the Chik-fil-A mascot before racing in the Arconic Jr. Bix on Friday, July 26, 2024. A young spectator extends a high-five to an Arconic Jr. Bix racer during the six-year-old race on Friday, July 26, 2024. Two six-year-old racers join hands during the Arconic Jr. Bix on Friday, July 26, 2024. Obed Toto, the Garfield Elementary School Running Club's top "Elite" runner, speeds by during the Arconic Jr. Bix six-year-old race on Friday, July 26, 2024. Obed Toko (left), of Davenport, races alongside Beau Schepers, of Bettendorf, during the Arconic Jr. Bix six-year-old race on Friday, July 26, 2024. Six-year-old Arconic Jr. Bix runners gear up for the race on Friday, July 26, 2024. Logan Dasso 6, of Davenport, sits on the shoulders of Andrew, her dad, and watches the races, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Oliver Little 6, of Eldridge plays with is Jr. Bix Medal as he is held by friend Jen Burman, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Jim Thomas from Chippewa Falls, Wisconsin, blows loudly on his horn, encouraging the racers to finish, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. A large crowd complete with cell phone cameras, capture the end of the races, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. The start of the 11-year-old race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Terriq Morgan-Clay (R) of Bettendorf beats out Logan Boll of Bettendorf at the finish line of the 10-year-old 's race Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. The start of the nine-year-old race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Elyjah Ashby of Davenport gets some high five's as he approaches the finish line of the nine-year-old race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. The start of the eight-year-old race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Jimmie Martin of Davenport is determined to finish his race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. The six-year-olds leave the starting line , Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. A Bix Buddy picks up a six-year-old on her back so he can finish the race, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. A pair of six-year-olds race for the finish line as the crowd cheers, Friday, July 26, 2024, during the Arconic Jr. Bix in Davenport. Five-year-old Jayden "Superman" Gibbs gets ready to run the Arconic Junior Bix on Friday, July 26, 2024. Three-year-old Oscar Sanchez is all smiles during his heat of the Arconic Junior Bix on Friday, July 26, 2024. Following the completion of the ages five and under races, Bix 7 Volunteers Emerson Quick, Allison Harris and Ava Harris-Shepard couldn't resist their own race at the Arconic Junior Bix on Friday, July 26, 2024. Calvin Henneman flies to the finish line during the three-year-old division of the Arconic Junior Bix on Friday, July 26, 2024. Sydney Hutchins of Rock Island and her friend Mickey Mouse went their separate ways during the 3-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Sydney Hutchins of Rock Island and her friend Mickey Mouse went their separate ways during the 3-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Sydney Hutchins of Rock Island and her friend Mickey Mouse went their separate ways during the 3-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Axel Munos, of Davenport, had to get a little help across the finish line of the Arconic Jr. Bix race, from his mother Stephanie, on Friday, July 26, 2024. Two-year-old Tatum Grothus chases her shadow during her heat of the Arconic Jr. Bix on Friday, July 26, 2024. Sophie Shrader finds a familiar face to run to during the 3-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. One-year-old Callie Peters crosses the finish line with a big smile during the Arconic Jr. Bix on Friday, July 26, 2024. Runners take off from the starting line during the 11-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Seven-year-olds jump the starting gun during of the Arconic Jr. Bix on Friday, July 26, 2024. From left, Bella Lombardi, Allie Stringer and Trey Pettigrew run in the four-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Nine-month-old Briar Smith would rather check the taste of her medal than pose for a photo with her mother, Lexi, after crawling in the under one-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. From left, Briar Larsen (530), Claire Berkley (460) and Josephine Vradenburg (461) run in the 3-year-old division of the Arconic Jr. Bix on Friday, July 26, 2024. Two-year-old Rowan Lind runs with his mother Brandee during the Arconic Jr. Bix on Friday, July 26, 2024. Get the latest local business news delivered FREE to your inbox weekly. {{description}} Email notifications are only sent once a day, and only if there are new matching items.