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The United States Merit Systems Protection Board is an independent U.S. federal government agency whose function is to protect career civil service employees from arbitrary firings. In February 2025, Trump removed a Democratic member of the board, Cathy Harris, who had served three years of her term, and demoted the other Democratic member. [102]
The hiring freeze was issued as part of Donald Trump's "Day One" executive orders and presidential actions, many of which targeted federal employees. [1] Other related presidential actions included federal return-to-office mandate, reinstatement of Schedule F, plans to terminate federal DEI officers, and a buyout offer to all federal employees ...
The Fiscal Responsibility Act of 2023, passed in June 2023, resolved that year's debt-ceiling crisis and set spending caps for FY2024 and FY2025. The act called for $895 billion in defense spending and $711 billion in non-defense discretionary spending for fiscal year 2025, representing a 1% increase over fiscal year 2024.
Besides the immediately preceding test emails, it was the first-ever mass email to all two million federal civilian employees. [8] According to the memo, employees who accept the deferred resignation would be placed on administrative leave, retain all employment benefits, and be paid through September 30, 2025, but have no work duties. [10] [11]
What to expect at the Fed's next policy meeting: March 18–19, 2025. It's widely expected the Federal Reserve will hold the Fed rate at 4.25% to 4.50% after its policy meeting on March 18 and ...
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to ...
The amount of reduced federal revenues are significant, estimated by CBO at nearly 8% GDP or about $1.5 trillion in 2017, for scale roughly half the revenue collected by the government and nearly three times as large as the budget deficit.
US stocks have been slumping heading into the first full-on week of 2025. In the past five trading sessions, the S&P 500 is down more than 1.5%, while the Nasdaq Composite is off nearly 2%.