18 hours ago
TOKYO, June 3 (Reuters) - Severe tropical storm Jangmi ripped across ****** an on Wednesday, with fierce winds and torrential rain disrupting transport and businesses, and knocking out power for tens of thousands of homes.
The storm's centre lay about 150 kilometres (93.2 miles) south of Tokyo as of early Wednesday afternoon, moving northeast with maximum sustained winds of up to 25 metres (82 feet) per second, ****** an's Meteorological Agency said. The storm is set to pass very close to the Pacific side of eastern ****** an and heightened vigilance is needed, the agency added.
At least 15 people have sustained minor injuries, according to authorities.
The storm, with a central pressure of 985 hPa, has cut power to nearly 60,000 households so far, and authorities have been receiving reports of flooding, fallen trees and debris, and landslides across a wide stretch of regions, government spokesperson Minoru Kihara said during a regular press briefing.
"If you sense any danger, please do not hesitate to take early action to protect your lives," Kihara said.
The storm's centre lay about 150 kilometres (93.2 miles) south of Tokyo as of early Wednesday afternoon, moving northeast with maximum sustained winds of up to 25 metres (82 feet) per second, ****** an's Meteorological Agency said. The storm is set to pass very close to the Pacific side of eastern ****** an and heightened vigilance is needed, the agency added.
At least 15 people have sustained minor injuries, according to authorities.
The storm, with a central pressure of 985 hPa, has cut power to nearly 60,000 households so far, and authorities have been receiving reports of flooding, fallen trees and debris, and landslides across a wide stretch of regions, government spokesperson Minoru Kihara said during a regular press briefing.
"If you sense any danger, please do not hesitate to take early action to protect your lives," Kihara said.
23 hours ago
WASHINGTON (AP) — President Donald Trump is facing warnings from foes and allies alike that he's getting boxed in on the Iran war, a conflict he sold as a brief military incursion but that has since settled into a holding pattern.
It's been nearly a week since U.S. and Iranian negotiators reached a tentative agreement to extend the ceasefire in the conflict by 60 days and start a new round of talks on Iran's nuclear program that required Trump's sign off.
But Trump has called for unspecified changes to the agreement and Iranian officials — perhaps calculating that the Republican president is reluctant to restart the bombardment after burning through key weapons systems — are showing no signs they'll give in to new demands.
A series of strikes by the U.S. and Iran this week has raised fresh concern that the ceasefire could collapse. Trump on Wednesday downplayed the significance.
"It's a different part of the world," Trump told reporters in the Oval Office. "You know, I'd say in that part of the world, a ceasefire is when you're shooting in a more moderate manner."
It's been nearly a week since U.S. and Iranian negotiators reached a tentative agreement to extend the ceasefire in the conflict by 60 days and start a new round of talks on Iran's nuclear program that required Trump's sign off.
But Trump has called for unspecified changes to the agreement and Iranian officials — perhaps calculating that the Republican president is reluctant to restart the bombardment after burning through key weapons systems — are showing no signs they'll give in to new demands.
A series of strikes by the U.S. and Iran this week has raised fresh concern that the ceasefire could collapse. Trump on Wednesday downplayed the significance.
"It's a different part of the world," Trump told reporters in the Oval Office. "You know, I'd say in that part of the world, a ceasefire is when you're shooting in a more moderate manner."
1 day ago
By Akash Sriram
NEW YORK, June 2 (Reuters) - Impulse **** e, a startup building **** ecraft that can ferry satellites and other payloads around in orbit after launch, said on Tuesday it has raised $500 million in a Series D funding round.
The funding round values the company at $4.26 billion, according to a person familiar with the matter.
The company was founded by Tom Mueller, **** eX's first employee and the propulsion engineer who led development of rocket engines that helped turn Elon Musk's company into the world's dominant launch provider.
The round was co-led by venture firms 137 Ventures and Banner VC and brings the total capital raised by the Redondo Beach, California-based company to more than $1 billion, Impulse said.
NEW YORK, June 2 (Reuters) - Impulse **** e, a startup building **** ecraft that can ferry satellites and other payloads around in orbit after launch, said on Tuesday it has raised $500 million in a Series D funding round.
The funding round values the company at $4.26 billion, according to a person familiar with the matter.
The company was founded by Tom Mueller, **** eX's first employee and the propulsion engineer who led development of rocket engines that helped turn Elon Musk's company into the world's dominant launch provider.
The round was co-led by venture firms 137 Ventures and Banner VC and brings the total capital raised by the Redondo Beach, California-based company to more than $1 billion, Impulse said.
2 days ago
Reader question: My spouse has little interest in our financial position. As we age, this concerns me. I try to share some basic information (income, spending, account balances, debt, and so on) each month but rarely get a response. I think graphs or charts might be of more interest to her than a bunch of numbers. What recommendations would you have for illustrating our financial position so that I am not the only person aware of how we are situated? Thanks!
Answer: Your situation is pretty common. Most couples I know develop a division of labor over time, where one person is in charge of financial matters and the other person is less involved. That’s definitely the case for my husband and me. He’s in charge of paying all the monthly bills and preparing our tax returns, but the financial planning and investment decisions are up to me. This type of arrangement might work well for a long time, but can become less sustainable with age, particularly if the “finance person” in the relationship dies or develops a major health issue.
Illustrating your financial situation with charts and graphs is a great idea that might help your spouse become a little more involved. Morningstar’s Portfolio X-Ray tool includes a variety of images that help illustrate your financial situation. Websites for most major brokerage firms also include some visual tools. Schwab, for example, offers a Portfolio Checkup and a bar graph illustrating your account’s monthly income from dividends and interest income. Vanguard has a Portfolio Watch tool and a variety of performance illustrations, tools, and calculators.
A mind map, which we used with clients when I worked for a financial advisory firm, can be another way to picture your entire financial situation on one page. There are various softwaretemplates for drawing a mind map, or you can simply sketch it out with a large sheet of paper and a pencil. Start with your names at the center of the page. Then draw spokes connecting to various categories, such as names of other family members; investment accounts; real estate and other ***** ets, insurance policies, estate plans, key goals and values, and contact information for accountants, estate planners, and other professionals. It can be helpful to go through the mind map together and make any updates needed at least once a year.
A few other ideas—though not related to charts and graphs—might also be useful.
Answer: Your situation is pretty common. Most couples I know develop a division of labor over time, where one person is in charge of financial matters and the other person is less involved. That’s definitely the case for my husband and me. He’s in charge of paying all the monthly bills and preparing our tax returns, but the financial planning and investment decisions are up to me. This type of arrangement might work well for a long time, but can become less sustainable with age, particularly if the “finance person” in the relationship dies or develops a major health issue.
Illustrating your financial situation with charts and graphs is a great idea that might help your spouse become a little more involved. Morningstar’s Portfolio X-Ray tool includes a variety of images that help illustrate your financial situation. Websites for most major brokerage firms also include some visual tools. Schwab, for example, offers a Portfolio Checkup and a bar graph illustrating your account’s monthly income from dividends and interest income. Vanguard has a Portfolio Watch tool and a variety of performance illustrations, tools, and calculators.
A mind map, which we used with clients when I worked for a financial advisory firm, can be another way to picture your entire financial situation on one page. There are various softwaretemplates for drawing a mind map, or you can simply sketch it out with a large sheet of paper and a pencil. Start with your names at the center of the page. Then draw spokes connecting to various categories, such as names of other family members; investment accounts; real estate and other ***** ets, insurance policies, estate plans, key goals and values, and contact information for accountants, estate planners, and other professionals. It can be helpful to go through the mind map together and make any updates needed at least once a year.
A few other ideas—though not related to charts and graphs—might also be useful.
2 days ago
A hiker found human remains next to a handgun in the McGaffey Ridge in the Carson National Forest on May 28, according to the New Mexico State Police. While the Office of the Medical Investigator was able to identify Casias’ remains, no cause of death has been determined.
“We confirm that the remains found in Rio Chiquito are Melissa,” Casias’ family said in a statement posted to a Facebook page established to find the New Mexico mother. “There will be more information to come but what we can tell you now is she was located in an area previously searched. This is a lot to process, our hearts are heavy and we fully intend to continue to pursue answers for justice.”
Casias, an administrative ***** istant for the federal government’s Los Alamos National Laboratory (LANL), was reported missing in late June 2025. She never arrived at work, did not return home, and left behind personal belongings.
Her family and authorities previously told Nexstar’s KRQE that Casias drove to work on Thursday, June 26, but forgot her badge. She decided instead to work from home.
In the early afternoon, Casias brought lunch to her daughter in Taos. Surveillance footage showed her leaving the area, Jazmin McMillen, Casias’ niece, said. Casias’ daughter returned home to find her mother gone, but her purse, car, keys, computer, and personal and work phones had been left behind.
“We confirm that the remains found in Rio Chiquito are Melissa,” Casias’ family said in a statement posted to a Facebook page established to find the New Mexico mother. “There will be more information to come but what we can tell you now is she was located in an area previously searched. This is a lot to process, our hearts are heavy and we fully intend to continue to pursue answers for justice.”
Casias, an administrative ***** istant for the federal government’s Los Alamos National Laboratory (LANL), was reported missing in late June 2025. She never arrived at work, did not return home, and left behind personal belongings.
Her family and authorities previously told Nexstar’s KRQE that Casias drove to work on Thursday, June 26, but forgot her badge. She decided instead to work from home.
In the early afternoon, Casias brought lunch to her daughter in Taos. Surveillance footage showed her leaving the area, Jazmin McMillen, Casias’ niece, said. Casias’ daughter returned home to find her mother gone, but her purse, car, keys, computer, and personal and work phones had been left behind.
2 days ago
By Stephen Nellis
SAN FRANCISCO, June 2 (Reuters) - Microsoft on Tuesday unveiled a new quantum computing chip that it redesigned with the help of AI, saying it now believes it will have commercially useful quantum machines by 2029.
The new target date puts Microsoft on track to have quantum computers the same year as rival IBM, which last month said it plans to spend $10 billion on quantum machines. It also spun out a company to make quantum chips for others, with backing from President Donald Trump's administration.
Microsoft had not previously given a target year for the new chip, saying only that it would be a matter of years, not decades.
Microsoft and IBM are racing against Alphabet's Google, Amazon and several Chinese efforts to develop quantum systems that could crack problems in medicine, chemistry and cybersecurity that would take conventional computers thousands of years. On Tuesday, Microsoft unveiled a new chip called Majorana 2, a follow-on from its first Majorana chip last year.
SAN FRANCISCO, June 2 (Reuters) - Microsoft on Tuesday unveiled a new quantum computing chip that it redesigned with the help of AI, saying it now believes it will have commercially useful quantum machines by 2029.
The new target date puts Microsoft on track to have quantum computers the same year as rival IBM, which last month said it plans to spend $10 billion on quantum machines. It also spun out a company to make quantum chips for others, with backing from President Donald Trump's administration.
Microsoft had not previously given a target year for the new chip, saying only that it would be a matter of years, not decades.
Microsoft and IBM are racing against Alphabet's Google, Amazon and several Chinese efforts to develop quantum systems that could crack problems in medicine, chemistry and cybersecurity that would take conventional computers thousands of years. On Tuesday, Microsoft unveiled a new chip called Majorana 2, a follow-on from its first Majorana chip last year.
3 days ago
Spencer Pratt told Bill Maher in an interview released Monday that he would enforce restrictions on smoking and drug use around children if elected Los Angeles mayor, making parks, schools, daycare centers, public safety and basic city services central to his pitch as the city's mayoral race heads toward Tuesday's primary.
Maher asked Pratt on the "Club Random" podcast whether he cared about all the issues facing the city, and Pratt said his priorities began with safety, lights and potholes before turning to smoking near children.
"I care about safety, the lights being on, potholes," Pratt said. "I don’t want you smoking in front of kids at the park. You know, I’ll be enforcing if you’re smoking that in front of a kid at a swing. I’ll be getting you as mayor."
California Mayor Wants To Give Homeless People 'All The Fentanyl They Want': 'Need To Purge These People'
Pratt then broadened the point to drug use near children in public **** es.
Maher asked Pratt on the "Club Random" podcast whether he cared about all the issues facing the city, and Pratt said his priorities began with safety, lights and potholes before turning to smoking near children.
"I care about safety, the lights being on, potholes," Pratt said. "I don’t want you smoking in front of kids at the park. You know, I’ll be enforcing if you’re smoking that in front of a kid at a swing. I’ll be getting you as mayor."
California Mayor Wants To Give Homeless People 'All The Fentanyl They Want': 'Need To Purge These People'
Pratt then broadened the point to drug use near children in public **** es.
3 days ago
Less than two months after the Trump administration rolled out its electronic tariff refund platform, it is now threatening to bring the operation to a standstill.
The administration said on Friday it plans to appeal a federal judge’s order that allowed all U.S. importers the ability to seek tariff refunds, not just those who sued the administration. The Supreme Court struck down tariffs President Donald Trump imposed under the International Emergency Economic Powers Act (IEEPA) in February, ruling the imposition of the tariffs exceeded the president’s powers.
U.S. Customs and Border Protection (CBP) rolled out the refund process, also known as the Consolidated Administration and Processing of Entries (CAPE), in April, creating an online portal through which importers could apply for their slice of the $166 billion in available refunds. According to a CBP court filing from May 26, CAPE has accepted for processing $85 billion in potential and certified refunds, including $20.6 billion sent to the U.S. Treasury Department for disbursement as of May 22. CBP did not disclose in the filing how many entities would receive those disbursements.
The Department of Justice argued in a court filing that Judge Richard K. Eaton exceeded his authority in ordering universal refunds, and that the government cannot issue refunds for importers that have already completed the “liquidation” process, or when CBP finalized the amount of money owed to an entity—unless that applicant sued to recover money it paid in illegal tariffs.
“CBP has no authority to reliquidate or refund money without a court order,” the Justice Department said in the filing.
The administration said on Friday it plans to appeal a federal judge’s order that allowed all U.S. importers the ability to seek tariff refunds, not just those who sued the administration. The Supreme Court struck down tariffs President Donald Trump imposed under the International Emergency Economic Powers Act (IEEPA) in February, ruling the imposition of the tariffs exceeded the president’s powers.
U.S. Customs and Border Protection (CBP) rolled out the refund process, also known as the Consolidated Administration and Processing of Entries (CAPE), in April, creating an online portal through which importers could apply for their slice of the $166 billion in available refunds. According to a CBP court filing from May 26, CAPE has accepted for processing $85 billion in potential and certified refunds, including $20.6 billion sent to the U.S. Treasury Department for disbursement as of May 22. CBP did not disclose in the filing how many entities would receive those disbursements.
The Department of Justice argued in a court filing that Judge Richard K. Eaton exceeded his authority in ordering universal refunds, and that the government cannot issue refunds for importers that have already completed the “liquidation” process, or when CBP finalized the amount of money owed to an entity—unless that applicant sued to recover money it paid in illegal tariffs.
“CBP has no authority to reliquidate or refund money without a court order,” the Justice Department said in the filing.
4 days ago
TAIPEI, May 31 (Reuters) - Taiwan's presidential office condemned China on Sunday after the New York Times said one of its reporters was expelled from the country following an interview the newspaper did with Taiwan President Lai Ching-te.
China views democratically governed Taiwan as its own territory and Lai as a "separatist." He rejects Beijing's sovereignty claims and says only the island's people can decide their future.
The New York Times said on Friday that its reporter Vivian **** was expelled by China in February.
The paper cited an explanation from Chinese officials that it was in response to its DealBook summit's December video interview with Lai, and said **** did not take part.
Taiwan's presidential office spokesperson Karen Kuo said it was standard practice for Lai to take interviews and explain the government's stance to the world.
China views democratically governed Taiwan as its own territory and Lai as a "separatist." He rejects Beijing's sovereignty claims and says only the island's people can decide their future.
The New York Times said on Friday that its reporter Vivian **** was expelled by China in February.
The paper cited an explanation from Chinese officials that it was in response to its DealBook summit's December video interview with Lai, and said **** did not take part.
Taiwan's presidential office spokesperson Karen Kuo said it was standard practice for Lai to take interviews and explain the government's stance to the world.
4 days ago
(Bloomberg) -- Industrial subsidies are reshaping the global economy with China standing out as a provider of state support that risks harmful distortions, according to new data from the OECD.
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4 days ago
Former Vice President Pence said Sunday that his party has “lost our way,” but also went after Democrats by saying they “have lost their minds.”
During an interview on “Meet the Press,” NBC News’s Kristen Welker pressed Pence on who he would support in the upcoming U.S. Senate race in Texas, as the controversial Republican nominee, Texas Attorney General Ken Paxton, is set to face off against the Democratic nominee, Texas state Rep. James Talarico.
While Pence did not directly confirm whether he would vote for Paxton if he could, he did say that he has confidence in Republicans in Texas. He also said he could “never” vote for Talarico if he could vote in Texas.
“Look, I — I think, in many respects, Republicans have lost our way,” Pence said in the interview. “But, Democrats have lost their mind. And I think the reason why we’re going to hold the Senate — and we have a real shot to hold the House — is because of the extremism on the Democratic side.”
“I mean, you literally have candidates, not just the mayor of New York, but some of the most prominent voices in the party that are openly advocating for socialist policies and socialism itself.”
During an interview on “Meet the Press,” NBC News’s Kristen Welker pressed Pence on who he would support in the upcoming U.S. Senate race in Texas, as the controversial Republican nominee, Texas Attorney General Ken Paxton, is set to face off against the Democratic nominee, Texas state Rep. James Talarico.
While Pence did not directly confirm whether he would vote for Paxton if he could, he did say that he has confidence in Republicans in Texas. He also said he could “never” vote for Talarico if he could vote in Texas.
“Look, I — I think, in many respects, Republicans have lost our way,” Pence said in the interview. “But, Democrats have lost their mind. And I think the reason why we’re going to hold the Senate — and we have a real shot to hold the House — is because of the extremism on the Democratic side.”
“I mean, you literally have candidates, not just the mayor of New York, but some of the most prominent voices in the party that are openly advocating for socialist policies and socialism itself.”
4 days ago
In Shanxi, the province that sits at the heart of China's coal-mining industry, there's long been a saying: "Only go down a coal pit when you have no other way out."
For decades, life in these pits was intertwined with tragedy.
It became so common that it gave rise to other sayings: about how miners were "exchanging their lives for money" or "staking their lives for tomorrow" when they ventured into underground tunnels where they died from gas explosions, flooding and shaft collapses.
Over the past decade, safety reforms steadily erased the industry's deadly reputation, and those days were thought to be behind China - until 22 May, when a blast at the Liushenyu coal mine in Shanxi killed 82 people and injured more than 120 others.
China's worst coal mining disaster in more than 15 years happened as the country continues its ambitious pivot towards green energy - a reminder that it is still struggling to shake off its dependency on an industry that has proven dangerous so many times in the past.
For decades, life in these pits was intertwined with tragedy.
It became so common that it gave rise to other sayings: about how miners were "exchanging their lives for money" or "staking their lives for tomorrow" when they ventured into underground tunnels where they died from gas explosions, flooding and shaft collapses.
Over the past decade, safety reforms steadily erased the industry's deadly reputation, and those days were thought to be behind China - until 22 May, when a blast at the Liushenyu coal mine in Shanxi killed 82 people and injured more than 120 others.
China's worst coal mining disaster in more than 15 years happened as the country continues its ambitious pivot towards green energy - a reminder that it is still struggling to shake off its dependency on an industry that has proven dangerous so many times in the past.
4 days ago
Democratic Sen. Cory Booker said Sunday that he expects Republican opposition to President Donald Trump's policy agenda to grow after his administration's recent push to create a $1.8 billion anti-weaponization fund, among other actions.
"We fought a revolution to stop exactly this -- a ruler from taking public funds and doing whatever they want with no checks and balances," Booker told ABC News' "This Week" co-anchor Jonathan Karl. "This president is giving us a master class in our own democracy by tearing it down."
The anti-weaponization fund would allow those who claim they were victims of the government to apply for compensation and could include those convicted, but pardoned by Trump, for participating in the Jan. 6, 2021, Capitol riot.
But that fund's creation was temporarily blocked by a federal judge on Friday, one of multiple Trump actions halted by courts in the last week. In a separate case, a federal judge ordered Trump's name to be removed from the John F. Kennedy Center for the Performing Arts.
Trump says 'no interest' in Kennedy Center overhaul after judge orders his name removed
"We fought a revolution to stop exactly this -- a ruler from taking public funds and doing whatever they want with no checks and balances," Booker told ABC News' "This Week" co-anchor Jonathan Karl. "This president is giving us a master class in our own democracy by tearing it down."
The anti-weaponization fund would allow those who claim they were victims of the government to apply for compensation and could include those convicted, but pardoned by Trump, for participating in the Jan. 6, 2021, Capitol riot.
But that fund's creation was temporarily blocked by a federal judge on Friday, one of multiple Trump actions halted by courts in the last week. In a separate case, a federal judge ordered Trump's name to be removed from the John F. Kennedy Center for the Performing Arts.
Trump says 'no interest' in Kennedy Center overhaul after judge orders his name removed
5 days ago
In the days before the Memorial Day weekend, rates on 30 year Treasury bonds hit their highest level in 19 years at 5.2%, and the benchmark 10-year reached 4.7%, the top reading since mid-2007. If those kinds of yields take hold, the scenario for federal interest expense posited in the CBO’s “Budget and Economic Outlook: 2026 to 2036,” released in February, descends from dire to near-disastrous. Takeaway: America’s track to fiscal safety has lost all margin for error, and nothing demonstrates that better than the long-term impact of loftier than expected rates. America’s got so little room to maneuver that even yields that modestly exceed the CBO’s “baseline,” as the numbers compound in the years ahead, deliver a huge extra blow by crowding out big chunks of revenue that would otherwise go towards funding such essentials as Defense, Social Security and Medicare.
The CBO forecasts that yields on the 30 and 10-year Treasuries will respectively average about 4.65% and 4.15% through FY 2036. That’s roughly 55 basis points lower than the multi-year summit briefly notched in late May. Doesn’t sound like much of a difference, right? And if the interest expense on our gigantic and ballooning national debt of $39 trillion weren’t already running at nearly $1 trillion a year, bigger than Medicare spending and equaling two-thirds of Social Security outlays, the half-point upward shift would likely prove manageable.
But a recent report from the non-partisan Committee for a Responsible Federal Budget quantifies the deep damage even a continuation at the recent peaks would inflict. By 2036, interest expense would jump from absorbing 14% of all revenues to devouring 30%, five points more than under the CBO’s forecast. At $2.5 trillion, 2.5x today’s number, the carrying costs would become the second largest budget category, beating Medicare by one-third. Interest cost per household would soar from $7,900 last year to $17,000 a decade hence.
Much of today’s extreme vulnerability to even slightly higher rates arises from the need to both refinance existing debt, and shoulder trillions more in newly-issued bonds to cover deficits, at much higher cost. All told, the federal government will need to borrow almost $10 trillion in the next 12 months, equivalent to one-third our total debt. That amount consists of around $7.5 trillion to repay the Treasuries coming due, and $2 trillion for plugging the shortfall between revenues and spending. A major reason the U.S. accumulated so much debt in the first place was the lure of ultra-bargain yields orchestrated by the Fed’s easy money policy during and following the COVID crisis. In 2021 through early 2022, Treasury Bills, instruments that mature within a year, offered around a minuscule 0.2%. Today, that cost’s 18 times fatter at 3.7%.
The CBO forecasts that yields on the 30 and 10-year Treasuries will respectively average about 4.65% and 4.15% through FY 2036. That’s roughly 55 basis points lower than the multi-year summit briefly notched in late May. Doesn’t sound like much of a difference, right? And if the interest expense on our gigantic and ballooning national debt of $39 trillion weren’t already running at nearly $1 trillion a year, bigger than Medicare spending and equaling two-thirds of Social Security outlays, the half-point upward shift would likely prove manageable.
But a recent report from the non-partisan Committee for a Responsible Federal Budget quantifies the deep damage even a continuation at the recent peaks would inflict. By 2036, interest expense would jump from absorbing 14% of all revenues to devouring 30%, five points more than under the CBO’s forecast. At $2.5 trillion, 2.5x today’s number, the carrying costs would become the second largest budget category, beating Medicare by one-third. Interest cost per household would soar from $7,900 last year to $17,000 a decade hence.
Much of today’s extreme vulnerability to even slightly higher rates arises from the need to both refinance existing debt, and shoulder trillions more in newly-issued bonds to cover deficits, at much higher cost. All told, the federal government will need to borrow almost $10 trillion in the next 12 months, equivalent to one-third our total debt. That amount consists of around $7.5 trillion to repay the Treasuries coming due, and $2 trillion for plugging the shortfall between revenues and spending. A major reason the U.S. accumulated so much debt in the first place was the lure of ultra-bargain yields orchestrated by the Fed’s easy money policy during and following the COVID crisis. In 2021 through early 2022, Treasury Bills, instruments that mature within a year, offered around a minuscule 0.2%. Today, that cost’s 18 times fatter at 3.7%.