It’s not a matter of if the next recession comes, but when. Treasury Secretary Scott Bessent recently warned that “sections of the economy” are already showing signs of strain — and that if the Federal Reserve doesn’t cut rates soon, the pain could spread fast. His warning landed like an echo of what many already feel: Something in the system is starting to buckle. The numbers may still look fine, the talking heads may still smile, but the tremors have begun. And this time, it will be a recession unlike any before it, because the U.S. is uniquely unprepared to endure it...

NATO member Romania evacuated residents after a suspected Russian drone strike hit a Turkish LPG tanker in Ukraine's Izmail Port, sparking the risk of a huge explosion. The affected vessel is named "ORINDA," according to Turkish shipping publication Deniz Haber. All 16 crew members evacuated the ship and are safe, the report said. In a statement to Newsweek on Monday, Romania's defense ministry said it "firmly condemns these attacks conducted by the Russian Federation against Ukrainian civilian targets and infrastructure elements."...

Federal Reserve officials face a challenge resolving differences over how to set interest rates with little new economic data to guide tricky judgment calls. Fed Vice Chair Philip Jefferson offered a case study in the central bank’s predicament on Monday, acknowledging the risk of stubborn inflation and weaker employment conditions—dueling threats that call for opposing prescriptions. “The evolving balance of risks underscores the need to proceed slowly” with rate cuts, Jefferson said during a talk at the Kansas City Fed...

A new federal memorandum was published on Oct. 31, entitled, “Presidential Determination on Refugee Admissions for Fiscal Year 2026.” “By the authority vested in me as President by the Constitution and the laws of the United States,” wrote President Donald Trump in the memo, “and after appropriate consultations with the Congress, I hereby make the following determinations and authorize the following actions...

A wildly popular YouTube star has been arrested for allegedly evading taxes while buying a $400,000 Ferrari that he then filmed being destroyed in a raging fire. Cody Detwiler, 27, who has more than 10 million subscribers to his “WhistlinDiesel” channel, faces two felony counts of tax evasion related to sales tax on a 2020 Ferrari F8 Tributo, purchased in January 2023, TMZ reported, citing law enforcement sources. It matches the Ferrari F8 that the influencer filmed being destroyed in a field fire in an August 2023 video titled, “The fastest way to lose half a million Dollars. My Ferrari is gone.”...

Instead of waging a bloody battle that could ignite a clash between nuclear-armed states, China may be betting it can conquer Taiwan without firing a shot — by choking off the island’s fuel and electricity until its government capitulates. China’s campaign wouldn’t start with missiles but with paperwork and patrol boats — "routine" inspections, new customs rules and cyber intrusions designed to quietly strangle Taiwan’s imports while giving Beijing plausible deniability, according to a new report by the Foundation for Defense of Democracies (FDD)...

Former Republican Rep. Mike Rogers holds a considerable lead over several Democratic candidates in Michigan’s open 2026 Senate race, according to new polling. The survey, conducted on behalf of the Republican group Sentinel Action Fund and first shared with the Daily Caller News Foundation, finds that voters would choose Rogers over the three Democratic primary candidates in head-to-head matchups. Michigan voters also prefer Republicans on immigration, crime and the economy, giving the GOP several “tactical advantages” in the battleground state, according to the polling memo...

Tariffs are the most flexible, peaceful, and effective policy instrument to regulate importation. That’s the economic, diplomatic, and common-sense context as the Supreme Court considers whether presidents have the authority to use tariffs under the International Emergency Economic Powers Act (IEEPA). The plaintiffs assert IEEPA can’t be stretched to include tariffs because, although IEEPA empowers the president to “regulate … importation” of property in an emergency, it makes no mention of the word “tariffs.”...

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