Nov 11, 2024
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  Trump 'border czar' floats workplace immigration raids Incoming “border czar” Tom Homan said Monday that President-elect Trump’s administration will conduct workplace raids as part of its immigration crackdown. © AP Photo/Matt York Homan, the former director of Immigration and Customs Enforcement (ICE), said on “Fox & Friends" that the workplace raids would help combat labor and sex trafficking. “Where do we find most victims of sex trafficking and forced labor trafficking? At worksites,” Homan told Steve Doocy. But advocates say that approach is unlikely to achieve that aim. “He’s conflating the traffickers with the people being trafficked,” said Heidi Altman, director of federal advocacy at the National Immigration Law Center. “Tom Homan is skilled at using public safety rhetoric to justify vicious tactics that tear families apart.”   Homan, an early proponent of the “zero tolerance” policy that separated more than 4,000 children from their parents in the first Trump administration, said he will prioritize “public safety threats and national security threats” for deportation as border czar.   But Homan said foreign nationals with orders of deportation “became a fugitive,” suggesting immigrants without criminal records but with final orders of deportation would be high on the list of deportation priorities.   The Hill's Rafael Bernal has more here.   Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.   Did someone forward you this newsletter? Subscribe here.   Essential Reads  Key business and economic news with implications this week and beyond:   Mnuchin says he won’t join second Trump administration Former Treasury Secretary Steven Mnuchin says he will not join President-elect Trump’s new administration but will offer advice to whoever takes the top finance role.  Full Story   Bitcoin surges to record high following election  Bitcoin jumped to a record high above $84,000 on Monday as cryptocurrency expectations continued to surge following the reelection of President-elect Trump, whose victory is being largely celebrated by the industry.    Full Story   US probe covers 1.4M Honda, Acura engines  A new investigation from the National Highway Traffic Safety Administration reveals that a failed engine complaint effects over 1.4 million Honda and Acura vehicles.    Full Story   The Ticker  Upcoming news themes and events we're watching: Federal Reserve Governor Chris Waller speaks at The Clearing House Annual Conference on Tuesday at 10 a.m ET. The House and the Senate are back Tuesday after several months on the campaign trail.   In Other News  Branch out with more stories from the day: Stock market today: Wall Street rolls higher as bitcoin bursts above $87,000 NEW YORK (AP) — U.S. stocks rose Monday, led by those seen as benefiting the most from Donald Trump’s … Full Story   Good to Know  Business and economic news we've flagged from other outlets: Here’s what a new Trump administration could mean for your money, financial advisors say (CNBC) The White House Will Be Shedding Its Union Label (The New York Times) Americans are feeling anxious — so they’re ‘doom spending’ (CNN)   What Others are Reading  Top stories on The Hill right now: Gallego defeats Lake in Arizona Senate race Rep. Ruben Gallego (D-Ariz.) is projected to beat Republican Kari Lake in a consequential race for a seat in the Senate, dealing the former local news anchor her second straight electoral loss, according to Decision Desk HQ. Read more RFK Jr.’s new bully pulpit sends public health shock waves President-elect Trump’s promise to let Robert F. Kennedy Jr. “go wild” on health is demoralizing public health experts, who worry he could meddle with key government agencies, amplify vaccine hesitancy and direct agency funding to favor his preferred views. Read more   What People Think  Opinions related to business and economic issues submitted to The Hill: What a Trump-Musk Government Efficiency Department should do in its first 100 days  The Trump 2.0 trade doctrine: Making the global economy unpredictable again?      You're all caught up. See you tomorrow! 
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