Planned Parenthood’s Illinois chapter has agreed to pay $500,000 after the federal government investigated allegations that the branch discriminated against its white employees. The Equal Employment Opportunity Commission (EEOC) said there is reasonable cause to believe the organization segregated its employees by race into “affinity networks.”
Many firms have “affinity networks,” which allow employees to join employee groups with those to whom they feel similar. However, at other companies, these networks are voluntary, not mandatory. Planned Parenthood had mandatory &#8220;affinity caucuses” segregated by race, and employees of other races were not allowed to participate.
Every week, staff were required to attend one- to two-hour sessions of segregated racial affinity caucuses or DEI training. At DEI training sessions, white employees were reportedly the target of harassment and derogatory statements such as: they “are white and do not feel racism the same way that non-white patients feel” and “white supremacy is exerted at every level of oppression.&#8221;
EEOC Chair Andrea Lucas said, “Segregating employees by race violates the core promise of our nation’s civil rights laws.” Lucas added in her statement that Title VII guarantees equal treatment for every employee and “those protections equally apply to white workers.”
Planned Parenthood employees alleged that the company even restricted the benefits of white employees. “Planned Parenthood also denied white employees access to time off that it granted only to black employees,” the report read. Along with the $500,000 settlement, Planned Parenthood fired the manager responsible for the misconduct that the investigation uncovered. The EEOC says the investigation was prompted after multiple employees brought forward their concerns.
The Daily Wire <a href="https://www.plannedparenthood.org/planned-parenthood-illinois/newsroom/statement-in-response-to-august-21-article-from-buzzfeed-news-statement-in-response-to-august-21-article-from-buzzfeed-news?utm_source=chatgpt.com">obtained</a> a press release from the Illinois Planned Parenthood affiliate that may have been the start of the organization’s discriminatory practices.
Planned Parenthood of Illinois said in a response to a BuzzFeed News article, &#8220;Despite not having the details of this particular incident, we recognize that Planned Parenthood has been complicit in upholding systemic racism. Moving forward, [Planned Parenthood of Illinois] is deeply committed to being anti-racist and ensuring that our work is not performative, that there is no divide between our words and actions.”
They added, “As part of this work, we’ve created spaces for honest conversations about race and are providing multiple channels through which staff have opportunities to share their lived experiences with leadership.”
The Illinois Planned Parenthood is not the only affiliate to release statements on racism in their organization. Nineteen out of the 49 Planned Parenthood affiliates have issued statements.
Planned Parenthood of the Pacific Southwest said, “We must confront how white supremacy of the past and present continues in the institutions we are a part of today including our own organization.&#8221;
The Virginia affiliate said that they acknowledge “our past and our present participation in white supremacy and are committed to stopping, learning, growing and living our values through the hard and uncomfortable work of progress.”
None of the statements released by the Planned Parenthood chapters specifically addressed discrimination allegations against white employees or white patients.

Bill Tompkins  Planned Parenthood signage Archive

Planned Parenthood Chapter Hit With $500K Settlement Over Discrimination Against White Employees

Abortion

Courts

Discrimination

Lawsuit

Planned Parenthood

Racism

U.S.

WASHINGTON—The Federal Reserve this week held interest rates steady, a shock to observers who assumed geopolitical tensions and rising oil prices may have moved the board to cut rates.
Fed Chair Jerome Powell stressed in a Wednesday briefing that the board was holding steady as events in the Middle East played out.
“In the near term, higher energy prices will push up overall inflation,” Powell said, “but it is too soon to know the scope and duration of the potential effects on the economy.”
Fed Governor Stephen Miran, a Trump appointee, dissented from the decision, favoring a rate cut rather than maintaining the current range of 3.5% to 3.75%. 
“The thing I really want to emphasize is that nobody knows,&#8221; Powell added. &#8220;The economic effects could be bigger, they could be smaller or they could be much smaller or much bigger. We just don’t know.”
Stressing the unusually high level of uncertainty facing policymakers became a theme of Powell’s press briefing. 
Powell said the Federal Reserve is guided by past oil price spikes, which have typically been temporary and had little lasting impact on inflation. However, after five years of inflation running above its 2% target, he added that the Fed remains vigilant for signs of more persistent price pressures.
He also noted that the United States’ position as a net energy exporter could help offset some negative impacts. Higher oil prices may weigh on consumers worldwide, but they also boost profitability for domestic energy companies, potentially leading to increased drilling and investment. Over the longer term, sustained elevated oil prices could drive further expansion in domestic energy production, as firms respond to stronger incentives to increase supply.
One moment of certainty was the continued pattern of the Federal Reserve fighting persistent inflation and a weakening labor market.
Since September, Powell has emphasized the challenge of balancing the Fed’s dual mandate which is maintaining price stability while maximizing employment. “We are balancing these two goals in a situation where the risks to the labor market are to the downside which would call for lower rates and the risks to inflation are to the upside which would call for higher rates and not cutting.” Ultimately, the Federal Reserve chose to leave rates unchanged in an effort to balance these competing pressures.
Powell’s March meeting marked his second-to-last as Fed chair before his successor, Kevin Warsh, is sworn in. Powell confirmed that he will serve out the remainder of his term until Warsh is officially confirmed as chair.

FILE PHOTO: Federal Reserve Chair Jerome Powell speaks at a press conference in Washington

Powell Urges Patience As Fed Holds Rates Steady Amid Iran Conflict

Economy

Federal Reserve

Politics

A top executive at tech giant Microsoft is hosting a high-dollar &#8220;Take Back the House&#8221; event for Sarah McBride, the far-left lawmaker who touts himself as the &#8220;first openly transgender member of Congress,&#8221; according to a copy of the invitation obtained by The Daily Wire.
Microsoft’s chief technology officer Kevin Scott and his wife are set to host the ‘Take Back the House’ fundraiser for Delaware&#8217;s Sarah McBride and House Minority Whip Katherine Clark next month. The fundraiser is in California, thousands of miles from for district McBride represents in Congress. 
Tickets for the fundraiser go for up to $44,300, and will flow both to McBride and the joint fundraising committee that supports all Democrat efforts to flip the House in the midterms.
<div id="attachment_1061917" style="width: 437px" class="wp-caption alignnone"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1061917" class="size-large wp-image-1061917" src="https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser-427x576.jpg" alt="" width="427" height="576" srcset="https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser-427x576.jpg 427w, https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser-222x300.jpg 222w, https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser-768x1036.jpg 768w, https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser-1138x1536.jpg 1138w, https://dw-wp-production.imgix.net/2026/03/mcbride-microsoft-fundraiser.jpg 1220w" sizes=" (max-width: 427px) 100vw, 427px" />A redacted copy of fundraiser invitation obtained by The Daily Wire.</div>
Microsoft declined to comment on the fundraiser, which is being held by Scott and his wife in a personal capacity.
Microsoft’s technology is deeply embedded across the federal government. Microsoft Office remains the dominant productivity suite used by the vast majority of government employees. General Services Administration official Josh Gruenbaum has estimated Microsoft’s annual U.S. government revenue at between <a href="https://www.nytimes.com/2026/03/11/business/dealbook/microsoft-anthropic-pentagon.html">$5 billion and $9 billion.</a>
Microsoft was in the headlines last week for siding with Anthropic in its conflict with the Trump administration.
&#8220;Microsoft Takes a Stand Against the Trump Administration,&#8221; read the <a href="https://www.nytimes.com/2026/03/11/business/dealbook/microsoft-anthropic-pentagon.html">headline</a> in the New York Times, noting that &#8220;the technology giant’s siding with Anthropic in its fight against the Pentagon stands out in an era when big companies have tended to keep quiet.&#8221;
As CTO, Scott plays a key role in shaping Microsoft’s AI strategy. The company&#8217;s entry into the Pentagon-related AI dispute came in the form of an amicus brief filed in the U.S. District Court for the Northern District of California. Microsoft argued that restricting Anthropic’s products could disrupt government contractors that rely not only on Anthropic’s models but also on Microsoft services that integrate that technology. 
The jabs have gone the other way too. Late last year, Trump <a href="https://www.politico.com/news/2025/09/26/trump-microsoft-lisa-monaco-00583363">demanded</a> that Microsoft fire Lisa Monaco, who was involved with investigating Trump at the Department of Justice during the Biden administration. Trump <a href="https://www.dailywire.com/news/take-away-his-passes-trump-yanks-security-clearances-from-bad-guy-blinken-other-key-dems">yanked</a> Monaco&#8217;s security clearance in his first month as president. She remains with the company.
Until recently, Microsoft had largely avoided the political spotlight. While other tech CEOs publicly aligned themselves with the Trump administration—attending events, making donations, and engaging more directly—CEO ≈ has generally maintained a lower profile and rarely commented on policy.
However, earlier this month, Microsoft joined other tech leaders in pledging to the Trump administration that they would cover the costs of new power generation for data centers so that residential consumers would not have to bear the burden of increased electricity costs.
Nadella has also praised the Trump administration&#8217;s pro-AI policies that create conditions where &#8220;the rest of the world can not only use our technology, but trust our technology more than any other alternative.&#8221; But Nadella&#8217;s praise isn&#8217;t unique. Open AI&#8217;s Sam Altman, Apple&#8217;s Tim Cook, Google&#8217;s Sundar Pichai, Meta&#8217;s Mark Zuckerberg, and other leading tech executives have extended compliments to Trump&#8217;s support and broader AI policy direction.
A large part of that credit goes to Trump&#8217;s pick for AI Czar, David Sacks. Sacks is a silicon valley veteran with a long career in tech as an entrepreneur and investor. Trump&#8217;s pick to lead the government&#8217;s AI charge is a stark contrast from President Joe Biden who tasked former Vice President <a href="https://foreignpolicy.com/2024/08/19/kamala-harris-czar-ai-biden-white-house/?utm_source=chatgpt.com">Kamala Harris</a> to lead the charge.
Like Nadella, former Microsoft founder Bill Gates did not use Microsoft as a political “megaphone” while he was involved in the day-to-day operation of the company. Gates has since, however, become one of the biggest funders of Democrats and liberal causes.
In 2024, the liberal billionaire reportedly spent $50 million in support of former vice president Kamala Harris&#8217; failed presidential campaign. While Gates did not confirm the donation—saying only he supports candidates with a “clear commitment to improving health care, reducing poverty and fighting climate change,” if it is true, it would mark a stark shift from his statements in 2019. “I choose not to participate in large political donations,” he said. “There are times it might feel tempting to do so, and there are other people who choose to do so, but I just don’t want to grab that gigantic megaphone.”

Microsoft_Left_funderaiser

Top Microsoft Exec To Host ‘Take Back The House’ Dem Fundraiser For Transgender Lawmaker

Treasury Secretary Scott Bessent slammed reports that President Trump’s meeting with China would be delayed if Beijing did not agree to secure the Strait of Hormuz. 
“There’s a false narrative out there,” said Bessent. “If the meetings are delayed, it wouldn’t be delayed because the President has demanded that China police the Strait of Hormuz. If the meeting for some reason is rescheduled, it would be rescheduled because of logistics. The President wants to remain in D.C. to coordinate the war effort, and traveling abroad at a time like this may not be optimal.” 
Bessent traveled to Paris to begin trade talks with Chinese Vice Premier He Lifeng on Sunday to set the stage for President Trump’s state visit to Beijing at the end of March. The Treasury Secretary added he had a successful meeting with Lifeng, discussing China’s purchase commitments to the United States and the new tariff regime. 
Trump first announced his visit in late November after a phone call with China&#8217;s President Xi Jinping. Xi <a href="https://www.trumpstruth.org/statuses/33994?utm_source=chatgpt.com">invited</a> Trump to Beijing following their meeting in South Korea.
Bessent’s assurance that any delay to Trump’s visit would be logistical follows Beijing’s rejection of Trump’s suggestion that China deploy warships to help reopen the Strait of Hormuz, a critical passage through which more than one-fifth of the world’s oil supply travels.
When asked about the proposal, Chinese Foreign Ministry spokesperson Lin Jian <a href="https://www.newsweek.com/china-rejects-trump-appeal-help-us-against-iran-11682132">said</a>, “China’s position is clear. We once again call on all sides to immediately cease military actions, avoid further escalation, and prevent regional turbulence from having a major impact on global economic growth.”
Along with not taking Trump up on his proposal, China has condemned the United States&#8217;s role in the attacks on Iran. However, George Chen, partner at the Asia Group, does not expect the issue to be a central topic during April&#8217;s talks. “U.S.-China relations are already complicated enough for President Trump and Xi to handle,&#8221; he <a href="https://abcnews.com/International/wireStory/chinas-response-us-attack-iran-foreign-policy-130712305">said</a>. Adding Iran to the mix &#8220;won’t be something that both sides are keen to do.”
What will be central to the talks are tariffs. In response to the Supreme Court knocking down Trump&#8217;s sweeping tariffs under the International Emergency Economic Powers Act (IEEPA), the administration has turned to other trade authorities, including Section 122 tariffs and potential Section 301 tariffs led by U.S. Trade Representative Jamieson Greer.
Section 122 allows the president to impose tariffs of up to 10 percent for 150 days without congressional approval. Section 301 tariffs, meanwhile, require a formal investigation conducted by the U.S. Trade Representative’s office.
Before IEEPA was overturned, Trump could impose a levy as quickly as posting to Truth Social. But stripped of the power of IEEPA, Bessent says 301 will not be imposed until July, and he will need congressional action after 150 days for section 122. 
“We assume there will be very little change in Tariff revenue,” said Bessent. “The ultimate purpose of tariffs is to reshore production. At the end of the day, we want to reshore manufacturing in the US, especially strategic manufacturing.” Bessent said that goal also shaped the administration’s approach to trade talks with China. He added that the administration does not want to fully decouple from China, but does want to bring key strategic manufacturing back to the United States.
&nbsp;

President Trump Signs Executive Order In The Oval Office

Bessent Slams ‘False Narrative’ on Trump-China Talks

China

Donald Trump

Media

Scott Bessent

Cuba&#8217;s socialist government announced Thursday that it will release 51 prisoners, a move that comes as the country faces increasing economic pressure from the United States.
Cuba’s Ministry of Foreign Affairs <a href="https://cubaminrex.cu/es/comunicado-del-ministerio-de-relaciones-exteriores-0">said</a> the releases will begin in the coming days and that those being freed have served a significant portion of their sentences and demonstrated good behavior while incarcerated. Officials did not confirm whether any of the individuals are political prisoners. The ministry said the decision was partly influenced by Cuba’s relationship with the Vatican, which has previously helped mediate prisoner releases and negotiations involving the United States.
The announcement was unexpected as the Trump administration intensifies pressure on the island nation, which has struggled with fuel shortages linked to disruptions in Venezuelan oil. After American forces captured Venezuelan President Nicolás Maduro in a January military operation, a step the Trump administration said was part of its strategy, disruptions to Venezuelan oil exports have contributed to Cuba&#8217;s energy crisis. 
In January, Trump signed an executive order describing the Cuban government as a national security threat. The order cited Cuba&#8217;s alignment with countries and groups hostile to the United States, including Russia, China, Iran, Hamas, and Hezbollah, and pointed to its geographic proximity.
Trump has publicly floated regime change and other aggressive actions toward Cuba. Speaking Tuesday, he suggested the United States could pursue what he described as a &#8220;friendly takeover.&#8221;
“It may be a friendly takeover,” Trump said. “They’re really in, they&#8217;re down to, uh, as they say, fumes. They have no energy. They have no money. They’re in deep trouble on a humanitarian basis.” 
President Trump <a href="https://www.nbcmiami.com/news/cuba-announces-talks-with-the-u-s-amid-blackouts-protests-on-the-island/3780627/">said</a> Secretary of State Marco Rubio is engaged in discussions with Cuban officials. According to reports, he has been in contact with Raúl Guillermo Rodríguez Castro, the grandson of former Cuban leader Raúl Castro.
Details of any potential agreement have not been made public.
Former Cuban opposition leader José Daniel Ferrer <a href="https://www.nytimes.com/2026/03/12/world/americas/cuba-prisoner-release-trump-oil-blocade.html">said</a> the prisoner release appears to be an attempt at gaining leverage amid mounting U.S. pressure. Ferrer, who was released from prison in 2025 and later went into exile in the United States, dismissed the move as largely symbolic.
“I see a regime liberating 51 people who had completed their sentences or were about to complete their sentences so that they can gain some advantage and applause,&#8221; he said. &#8220;Their backs are against the wall because the United States is pressuring them like never before.”
After publication on Friday, Cuba confirmed talks with Rubio. &#8220;These conversations have been aimed at seeking solutions, through dialogue, to bilateral differences that exist between the two nations,&#8221; said Díaz-Canel. He added that international factors &#8220;have facilitated these exchanges.&#8221;

Donald Trump/Marco Rubio

51 Prisoners To Be Freed As Cuba Shows Cracks Under Trump Pressure

The man who targeted Temple Israel in West Bloomfield, Michigan, on Thursday has been identified as Ayman Mohamad Ghazali, a Lebanese national who became a naturalized U.S. citizen in 2016 under the Obama administration, the Department of Homeland Security <a href="https://x.com/BillMelugin_/status/2032250045756498058">confirmed</a> to The Daily Wire.
Ghazali ran his car into Temple Israel, the largest Reform Judaism congregation in the United States, and <a href="https://www.dailywire.com/news/police-respond-to-reports-of-active-shooter-as-michigan-synagogue-goes-up-in-smoke">opened fire</a> with a rifle on Thursday. He was pronounced dead at the scene after the synagogue&#8217;s security engaged him with gunfire.
Ghazali was born in Lebanon in 1985 and first entered the United States in 2011 on an immigrant visa as the spouse of a U.S. citizen, the Department of Homeland Security said. After he applied for naturalization in October 2015, he was granted citizenship in February 2016. 
One security guard was injured as a result of being struck by the attacker’s vehicle, but is in <a href="https://www.dailywire.com/news/police-respond-to-reports-of-active-shooter-as-michigan-synagogue-goes-up-in-smoke">stable condition</a>. Oakland County Sheriff Michael Bouchard confirmed that no one else was injured in the attack. Temple Israel <a href="https://www.dailywire.com/news/police-respond-to-reports-of-active-shooter-as-michigan-synagogue-goes-up-in-smoke">runs</a> a drive-thru food pantry on Thursdays and has a preschool that was in session. The synagogue said on Thursday that “all 140 students in our Susan and Harold Loss Early Childhood Center, our amazing staff, our courageous teachers, and our heroic security personnel are all accounted for and safe.”
The attack comes amid a heightened concern over terror attacks after President Donald Trump launched &#8220;Operation Epic Fury&#8221; in Iran. Abroad, at least 11 U.S. soldiers have been killed during the operation, with about 140 others wounded.
Trump was briefed on Wednesday on the possibility of Iranian sleeper cells being activated in the United States. The president responded, “We know where most of them are. We have our eyes on all of them — I think.&#8221; 
This week alone, two men who pledged their allegiance to ISIS attempted to throw a bomb into a crowd of protesters, and at least one person was killed in another shooting at Old Dominion University.
The Old Dominion University shooter was <a href="https://www.dailywire.com/news/old-dominion-university-gunman-identified-as-ex-national-guardsman-turned-isis-operative?topStoryPosition=undefined&amp;author=Jennie+Taer&amp;category=News&amp;elementPosition=2&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Old+Dominion+University+Gunman+Identified+As+Ex-National+Guardsman+Turned+ISIS+Operative">identified</a> as Mohamed Bailor Jalloh, a former National Guard soldier who was previously convicted of supporting ISIS, according to multiple reports.
Jalloh, 36, discussed plans to carry out a Fort Hood-style attack with a government informant he believed was an ISIS terrorist, <a href="https://www.nbcwashington.com/news/local/ex-national-guard-member-from-virginia-sentenced-to-11-years-for-terrorism-after-supporting-isis/35484/" target="_blank" rel="noopener">according</a> to NBC4 Washington. Jalloh was sentenced to 11 years behind bars and an additional five years of supervised release.
He was let out early in December 2024, <a href="https://nypost.com/2026/03/12/us-news/old-dominion-university-gunman-idd-as-former-national-guardsman-convicted-of-plotting-attack-to-support-islamic-state/" target="_blank" rel="noopener">according</a> to the New York Post.
Jalloh, who is a naturalized American citizen from Sierra Leone, stormed into a classroom on Thursday and asked if it was an ROTC course, according to the New York Post. When someone confirmed that it was, he opened fire, shooting the professor several times.
The professor, a retired military officer, died at the hospital, according to the news outlet. One of the students heroically stabbed Jalloh to death to stop him from harming others.
FBI Director Kash Patel confirmed on X that one person is dead and two others were wounded in the shooting.
Jennie Taer contributed to this report.

Michigan Synagogue Attack

How Synagogue Terrorist Ended Up A U.S. Citizen Goes Back To Obama Era

Crime

Michigan

Radical Islam

Terrorism

Three people were hospitalized after a man opened fire at Old Dominion University in Norfolk, Virginia, on Thursday. Authorities identified the suspected gunman as Mohammad Bailor Jalloh. FBI Director Kash Patel announced the bureau is investigating the actions as an act of terrorism. &#8220;Our Joint Terrorism Task Force is fully engaged, embedded with local authorities, and providing all resources necessary in the investigation,&#8221; said Patel. 
At 10:43 a.m., the Norfolk police began receiving calls that an active shooter was inside Constant Hall, one of the school&#8217;s academic centers. &#8220;We received information that people were being shot inside of the classrooms,&#8221; said Old Dominion Police Chief Garrett Shelton.
Shelton said the first officers arrived on the scene by 10:47 a.m. and that by 10:50 a.m., Jalloh was pronounced dead on the scene.
Shelton said there are three victims in the shooting. Shelton confirmed two victims were transported to the hospital for medical treatment and the third victim transported themselves. One of the victims has died from their injuries/
Students were evacuated from the scene and the school has canceled all classes and operations for the day.
<blockquote class="twitter-tweet">
There have been 2 reported victims at this time who have been transported to the hospital to receive medical treatment <a href="https://t.co/cu0L5zn9S4">https://t.co/cu0L5zn9S4</a>
— Norfolk Police Dept (@NorfolkPD) <a href="https://twitter.com/NorfolkPD/status/2032132195414949927?ref_src=twsrc%5Etfw">March 12, 2026</a></blockquote>
Shelton said the police department was notified the third victim transported themselves to the hospital after the initial announcement was made.
This is a developing story; check back for updates.

Old Dominion University

Gunman Opens Fire: One Dead, Two Injured At Old Dominion University

Law Enforcement

Shooting

Virginia

Moody’s downgraded New York City&#8217;s financial outlook from &#8220;stable&#8221; to &#8220;negative&#8221; on Wednesday, citing a projected $5.4 billion budget deficit. 
The deficit was unveiled by Democratic Mayor Zohran Mamdani during a preliminary budget hearing in February. Mamdani has proposed increasing the city’s budget from $115 billion under his predecessor to $127 billion for the upcoming fiscal year. 
A spokesperson for Mamdani said Moody&#8217;s action is <a href="https://www.yahoo.com/news/articles/moody-downgrades-nyc-financial-outlook-202000768.html">premature</a>, noting that state lawmakers are considering roughly $5 billion in additional funding for the city.
In its statement, Moody&#8217;s acknowledged that the proposed state funding “could have a stabilizing effect over time,” but cautioned that it would matter only “if enacted.” 
Without additional state funding, Mamdani has proposed raising property taxes by <a href="https://www.dailywire.com/news/mamdanis-127b-budget-plan-relies-on-property-tax-increases-and-raiding-rainy-day-fund">9.5%</a> and taking <a href="https://www.dailywire.com/news/mamdanis-127b-budget-plan-relies-on-property-tax-increases-and-raiding-rainy-day-fund">$980</a> million from the city’s rainy-day fund. Moody&#8217;s warned that tapping reserves would “limit financial flexibility, especially if economic growth slows sharply or an outright downturn materializes.” 
New York City Comptroller Mark Levine described the potential property tax hike and use of reserves as having “dire consequences” and called Moody’s decision a red flag. 
“Moody’s decision to review New York City’s outlook to negative is a sobering wakeup call about the fiscal challenges ahead for us,” Levine said. 
The downgrade comes after a year in which the city posted record Wall Street revenues amid a strong local economy.
Despite revising the outlook, Moody&#8217;s left the city&#8217;s bond rating unchanged. A full downgrade would likely raise New York&#8217;s borrowing costs by signaling greater credit risks to investors.
Moody&#8217;s warned that a rating downgrade could follow if budget gaps widen to 10% of city revenue.
Mamdani has attributed the projected deficits to what he describes as mismanagement under former Mayor Eric Adams, arguing that prior budgets failed to adequately fund cash assistance, rental support, and shelter services.
During the Adams administration, the city absorbed more than <a href="https://www.cityandstateny.com/policy/2024/12/following-asylum-seeker-odyssey/382850/">210,000 migrants,</a> with officials estimating the cost of housing and support services at roughly <a href="https://www.cityandstateny.com/policy/2024/12/following-asylum-seeker-odyssey/382850/">$4.3</a> billion. Those expenses continue to strain the city&#8217;s budget.
Meanwhile, Mamdani has advanced several costly campaign proposals, including expanded childcare and transit initiatives. According to estimates cited by the New York Post, the mayor&#8217;s proposed expansion of childcare for two-year-olds could grow from $73 million in its first year to $425 million by 2027. A proposed &#8220;free and fast buses&#8221; initiative could cost the city up to <a href="https://www.vitalcitynyc.org/how-mamdani-can-delivery-free-buses-and-subways-too/#:~:text=For%20example%2C%20his%20own%20campaign,to%20be%20made%20up%20somewhere.">$800 million</a>.
&nbsp;

New York Mayor Zohran Mamdani Holds Press Conference At Deno’s Wonder Wheel On Coney Island

Months Into Mamdani’s Term, NYC Gets A Big Credit Warning

New York

New York City

Zohran Mamdani

Starbucks founder Howard Schultz joins the growing list of billionaires moving to Florida — a move that is quickly becoming a trend. In past two months alone, Meta CEO Mark Zuckerberg, Google CEO Sergey Brin, former Google CEO Larry Page, and now Howard Schultz have announced their migration to Miami. 
Schultz has lived in Seattle since 1979, where he built Starbucks into a global brand. The billionaire says he&#8217;s making the move in order to pursue his next adventure. 
“We [Schultz and his wife, Sheri Schultz] have moved to Miami for our next adventure together. We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own,&#8221; he explained.
After 44 years in Seattle, Schultz — worth $6.6 billion — will settle into a <a href="https://www.forbes.com/sites/maryroeloffs/2026/03/11/starbucks-billionaire-howard-schultz-paid-44-million-for-florida-penthouse/">$44 million penthouse</a> at the Surf Club, Four Seasons Private Residences in Surfside, about fifteen miles from Miami. The five bedroom penthouse is 5,500 square feet and has a rooftop terrace. While his nonprofit, the Schultz Family Foundation, will remain in Seattle, his family office will relocate with him. 
Schultz’s announced his decision on the same day that the Washington State House of Representatives approved a new millionaire tax. The measure passed 52-46 on Wednesday and advanced to the Senate. If it passes, Washington will lose its status as one of the nine states without an income tax. The legislation would impose  a 9.9% tax on income for earners making above $1 million. Washington policymakers argue that only <a href="https://www.forbes.com/sites/nathangoldman/2026/03/11/washingtons-99-millionaire-tax-raises-fears-of-wealthy-exodus/">0.5%</a> of tax payers would be subject to the new levy. 
State Rep. Ed Orcutt, one of the 46 legislators who voted against the bill <a href="https://edorcutt.houserepublicans.wa.gov/2026/01/21/rep-ed-orcutt-explains-why-he-opposes-a-new-state-income-tax/">said</a>, “The problem is overspending. There is no tax or combination of taxes that can keep up with a legislature that continually overspends revenue.”
Schultz did not mention the tax in his announcement, much like Amazon CEO Jeff Bezos did not mention the Washington State <a href="https://www.theguardian.com/technology/2024/feb/13/jeff-bezos-florida-taxes#:~:text=But%20on%20Tuesday%20the%20financial%20news%20network,stocks%20or%20bonds%20of%20more%20than%20$250%2C000.">7%</a> capital gains tax — on sales of stocks and bonds exceeding $250,000 — when he decided in 2023 to leave Seattle for Miami. Like Schultz, Bezos cited only personal reasons.
In recent years, a growing number of CEOs have relocated from blue to red states. But while Schultz is moving to a red state, his political views lean left. In 2019, during a media tour for a potential 2020 Presidential run, Schultz said, &#8220;I should be paying more taxes. And more people who make this kind of revenue, and are of means, should be paying more taxes.&#8221;
That same night, Schultz also said, &#8220;No one wants to see him [Donald Trump] fired more than me.&#8221;
Starbucks is also relocating to the south — and to a red state as well. The company announced the move to Nashville, Tennessee, in the beginning of March describing it as part of a broader plan to expand across North America and “establish a strategic presence in the Southeast region of the United States.” 
Justin Owen, the President &amp; CEO of the think tank, Beacon Center of Tennessee, welcomed the decision. 
“We welcome all businesses to the free state of Tennessee. We encourage them to remember and embrace why they came here: our low tax, low regulation, pro-worker freedom environment,” Owen said.

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Inflation held steady at <a href="https://www.bls.gov/news.release/cpi.nr0.htm">2.4%</a> in February, according to new data released Wednesday by the Bureau of Labor Statistics. 
While inflation remains above the Federal Reserve&#8217;s 2% target, it is significantly lower than levels seen during the height of the post-pandemic surge.
Energy prices rose <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.6%</a> in February after falling <a href="https://www.bls.gov/news.release/cpi.nr0.htm">1.5%</a> in January, driven by higher gasoline and natural gas prices, while electricity declined. Because the United States entered the conflict with Iran on the final day of February, the recent surge in oil prices is not reflected in the latest inflation data. Oil was trading around $70 per barrel before the conflict and is now in the mid-$80 range.
Core inflation, which excludes volatile food and energy prices, remains relatively stable, reinforcing the broader trend of moderating price growth.
<blockquote class="twitter-tweet">
Inflation under Joe Biden reached 9.1%, the highest in half a century.
Under President Trump, inflation is down and holding steady! <a href="https://t.co/NzbKAxFmt6">pic.twitter.com/NzbKAxFmt6</a>
— GOP (@GOP) <a href="https://twitter.com/GOP/status/2031726335274492371?ref_src=twsrc%5Etfw">March 11, 2026</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Inflation peaked at 9.1% in 2022 during the Biden administration before gradually cooling the past two years.
Earlier this week, oil briefly spiked to around $120 per barrel — its highest level since 2022 — before retreating after President Donald Trump said “the war is very complete” and signaled he was considering U.S. control of the Strait of Hormuz, which carries roughly one-fifth of global oil supply. 
Food prices rose <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.4%,</a> and shelter increased <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.2%</a>. Gains were driven largely by higher prices for candy, fruit, and vegetables. Notably, egg prices, often cited as a grocery barometer, have fallen 42.1% over the past year. 
Stocks and bonds reacted modestly, with futures largely flat. Many financial analysts are now looking to the March Consumer Price Index report for a clearer picture of how geopolitical tensions might influence prices. 
New York Fed President John Williams said the Iran conflict could affect near-term inflation but that its lasting impact will depend on how long it persists. “Something that would obviously affect kind of a nearer-term inflation outlook. We&#8217;ll have to see how persistent this is and how long this is, but it would have an effect on overall inflation.&#8221;

Inflation

Inflation Held Steady Before Iran Operation Fueled Energy Prices

Oil prices have dropped for two straight days following previous surges, having hit four-year highs on Monday before logging the biggest single-day percentage drop since 2022.
Oil prices plunged on Tuesday when Secretary of Energy Chris Wright claimed in an X post that the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz. Brent Crude dropped to around $81 per barrel, according to <a href="https://www.marketwatch.com/investing/future/brn00?countrycode=uk&amp;gaa_at=eafs&amp;gaa_n=AWEtsqe4k1-WtbbEc0_rDe9RmjIzBeQ_NbvsmIuohb4DQSo55Be0bfuc1Ez2yJhY6Pc%3D&amp;gaa_ts=69a5b024&amp;gaa_sig=kegHiaf_xsPW94kPXb2xUx2YgsMT9F6cMvHsnXelmzUTlyMm_8GalBG_mAiBT6m4gV0Q7YYn6j8miOFnbJ_EGA%3D%3D">MarketWatch</a>. However, White House Press Secretary Karoline Leavitt corrected that claim in her Tuesday afternoon press briefing, which sent oil prices back up, with Brent Crude closing around $91 per barrel.
“I can confirm that the U.S. Navy has not escorted a tanker or a vessel at this time, though, of course, that’s an option that the president has said he will absolutely utilize if and when necessary at the appropriate time,&#8221; Leavitt said.
Using the U.S. Navy to escort vessels through the Strait of Hormuz, through which about 20% of the world’s oil travels, is just one of the options the Trump administration has announced that would bring down prices.
The administration ordered the U.S. International Development Finance Corporation to <a href="https://www.theinsurer.com/ti/news/trump-orders-us-government-to-provide-political-risk-insurance-for-gulf-shipping-2026-03-04/">offer</a> political risk insurance to tankers operating in the Gulf. Insurance policies covering a vessel traveling through the strait have reportedly jumped by as much as <a href="https://www.dailywire.com/news/gas-prices-in-focus-after-iran-targets-key-oil-route">37.5%</a>, while others were canceled altogether. In addition, the Treasury Department lifted oil sanctions — most notably on Friday, when Treasury Secretary Scott Bessent issued a temporary <a href="https://www.nytimes.com/2026/03/10/world/middleeast/iran-war-putin-russia-energy-oil-prices.html">30-day lift</a> allowing India to buy Russian oil.
Senate Democrats criticized the decision to lift oil sanctions, writing in a statement, “Now is not the time to clear the way for sales for Russian oil majors and Russian-owned and shadow fleet vessels.”
Bessent argued that the lifted sanctions were narrow in scope and would not provide a substantial financial benefit to the Russian government. Russia, the United States, and Saudi Arabia lead the world in oil production.

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Emir Balat, 18, and Ibrahim Kayumi, 19, are accused of attempting to throw homemade bombs into a crowd of people and police officers outside Gracie Mansion in New York City on Saturday.
Officers quickly arrested the duo after one of the bombs was thrown. By Saturday evening, Police Commissioner Jessica Tisch addressed the public, confirming that the devices were “a bit smaller than a football, [appeared] to be a jar wrapped in black tape, importantly with nuts, bolts, and screws along with a hobby fuse that could be lit.”
The devices — in Balat’s own words — were intended “to carry out an attack bigger than the Boston Marathon,” which Balat noted caused “only three deaths.” From Pennsylvania, Balat and Kayumi reportedly traveled to New York City to carry out their attack. After Balat was arrested on Saturday, authorities located a car registered to Balat’s family member and found footage of the vehicle crossing the George Washington Bridge into New York City at 11:36 a.m. on Sunday.
Balat and Kayumi lived <a href="https://www.foxnews.com/us/alleged-isis-inspired-suburban-terrorists-lived-10-miles-apart-were-strangers-before-nyc-attack-lawyer">ten miles</a> from each other in Pennsylvania. Balat is enrolled at Neshaminy High School in Langhorne, Pennsylvania. Kayumi graduated from Council Rock High School in 2024. Balat’s lawyer, Mehdi Essmidi, claimed to reporters that the men did not know each other prior to the attack: “They’re strangers, as far as I know.” He added that they are in different age groups.
An official from Neshaminy High School shared with The Daily Wire said Balat was enrolled in the district’s virtual academy and had not attended in-person classes since September. Essmidi said, “He’s finishing school remotely because he has only like three classes left to do.”
When arrested, both Balat and Kayumi referred to ISIS in recorded post-arrest statements. Balat pledged his allegiance to the Islamic State on a piece of paper at the police detention center, and Kayumi said he was affiliated with ISIS and watched ISIS propaganda on his phone.
Authorities have since searched Balat and Kayumi’s devices, as well as their homes. Balat lived in Langhorne in a home estimated to be worth <a href="https://www.dailywire.com/news/watch-suspected-nyc-terrorist-flashes-isis-salute-three-times?author=Brecca+Stoll&amp;category=News&amp;elementPosition=1&amp;row=0&amp;rowType=Vertical+List&amp;title=WATCH%3A+Suspected+NYC+Terrorist+Flashes+ISIS+Salute+Three+Times">$653,000,</a> and Kayumi lived in a home worth <a href="https://www.dailywire.com/news/watch-suspected-nyc-terrorist-flashes-isis-salute-three-times?author=Brecca+Stoll&amp;category=News&amp;elementPosition=1&amp;row=0&amp;rowType=Vertical+List&amp;title=WATCH%3A+Suspected+NYC+Terrorist+Flashes+ISIS+Salute+Three+Times">$2.25 million</a>. It is unclear whether Kayumi continued to live in that home after he graduated from Council Rock.
The FBI also searched a storage facility in Langhorne, Pennsylvania, on South Flowers Mill Road. The FBI said it was conducting a court-authorized search in connection with Balat and Kayumi’s terrorism case.
Kayumi’s parents were <a href="https://www.phillyburbs.com/story/news/local/2026/03/09/are-terror-suspects-emir-balat-and-ibrahim-kayumi-us-citizens-bucks-county-gracie-mansion-protest/89069831007/">originally from</a> Afghanistan and became naturalized citizens in 2004 and 2009.
Both Balat and Kayumi <a href="https://www.cbsnews.com/news/fbi-investigation-terrorism-explosive-device-new-york-city-mayor-mamdani-gracie-mansion/">traveled internationally</a> in the last two years. Balat left the United States for about four months, traveling to Istanbul, Turkey, from May 6, 2025, to August 26, 2025. In January of this year, Balat left the country, again traveling to Turkey. Like Balat, Kayumi also went to Istanbul, but in July and August of 2024. He also traveled to Saudi Arabia in March of that year.

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Everything We Know About The Suspected NYC Terrorists

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