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Anthropology, physics, and computer engineering grads have had a rough time in the job market.The Federal Reserve Bank of New York analyzed the unemployment rates of recent college graduates, defined as 22- to 27-year-olds with a bachelor’s degree or higher, by major. The analysis used data from the Census Bureau’s 2023 American Community Survey covering 73 majors and subject groups.Twenty-eight majors had unemployment rates above the overall 3.6% rate for recent grads. The kinds of majors with the highest unemployment rates were mixed, with several related to arts, technology, or science. Recent anthropology graduates had a rate of 9.4%, the…

Can you hear “The Last Great American Dynasty” playing in the distance?There are many historical mansions on Long Island, but only one was once owned by the legendary Vanderbilt family. The 42-acre estate of William Kissam Vanderbilt II, which included his summer “cottage” of Eagle’s Nest, is now a museum that’s open to the public.Eagle’s Nest was first built in 1910 as a small cottage, but as William II spent more time there, it expanded until 1936, when a full redesign was finished; it had become a 24-room Spanish Revival mansion.William II spent time at Eagle’s Nest until his death…

Fed Chair Jerome Powell effectively told President Trump on Tuesday that he’s his own worst enemy in his crusade for rate cuts.He was speaking specifically about the tariffs Trump has announced and implemented, blaming them for the lack of rate-cut activity.”We went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs,” Powell said at a European Central Bank panel.Keeping inflation in check is ultimately what the Fed is focused on when deciding whether to adjust interest rates. And while recent data…

2025-07-01T17:43:29Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. At 2025’s halfway point, the biggest hedge funds are, for the most part, on par with the stock market. Several funds were stung by the volatility earlier this year. Stocks have since rebounded, and many firms had decent returns in June. Despite a rollercoaster start to 2025, the biggest hedge funds are…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump’s landmark tax and spending legislation moved a step closer to becoming law on Tuesday after the US Senate ended days of haggling and narrowly passed the so-called big, beautiful bill.The bill’s passage through Congress’s upper chamber now leaves its fate in the hands of the House of Representatives, where it could still face considerable opposition ahead of a looming July 4 deadline.The Senate approved the sweeping legislation, 51-50, on Tuesday after vice-president JD Vance cast the tiebreaking vote.The…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldIt was only a matter of time before Donald Trump’s war on what we used to know as the global economy spilled over from trade to other areas. Sure enough, while his trade war is set for a new phase next week — when the US president’s “liberation day” tariff schedule is supposed to come into effect — we have just witnessed the first skirmish on the second front, over taxes. In 2021, countries led by the G7 and the OECD…

Donald Trump’s $3.3 trillion tax and spending cut bill passed the Senate Tuesday after a furious push by Republican leaders to persuade holdouts to back the legislation and hand the president a political win.Senators voted 51-50 to pass the bill, with three Republicans — Susan Collins of Maine, Thom Tillis of North Carolina and Rand Paul of Kentucky, defying Trump to oppose the legislation. Vice President JD Vance cast the tie-breaking vote. The package, which now goes to the House, combines $4.5 trillion in tax cuts with $1.2 trillion in spending cuts. “This was a team effort,” Senate Majority Leader John…

The Senate narrowly approved President Trump’s tax bill Tuesday after Vice President JD Vance cast a tie-breaking vote following no votes from three Republican senators.The bill would extend tax breaks from the Tax Cuts and Jobs Act and add new tax breaks for tips, overtime pay and car purchases in the U.S. It will now need to go back to the House for another vote after it won passage there in May.”With this bill’s passage, the United States Senate is fulfilling President Trump’s promise to secure the border, fortify our national defense and unleash American energy,” said Senate Finance Committee…

US President Donald Trump is closing in on his goal of ramming $4.5tn of tax cuts through Congress, in a massive bill that would slash healthcare spending and drive up government borrowing. The bill was passed by the Senate on Tuesday after a tiebreaking vote cast by vice-president JD Vance broke the deadlock. It must now be approved by the House of Representatives, where a previous version was passed by just one vote, before Trump can sign it into law.It has been slammed by hawkish Republicans and Trump’s billionaire backer Elon Musk because of boosts to government borrowing. The White House…

“It sounds progressive, but it’s totally broken.” That’s how Bolt’s CEO described unlimited paid time off while saying he had just “killed” the policy at the company.On Tuesday, CEO Ryan Breslow said that the San Francisco-based checkout and payments technology company would instead move to a PTO policy that offered four paid weeks off.”When time off is undefined, the good ones don’t take PTO. The bad ones take too much,” the CEO wrote in a message shared to his LinkedIn profile. “This leads to A-performer burnout. B-performer luxuries. And feelings of unfairness across the board.””So we’re flipping the script: no…