Welcome back to Money Movers. Markets coming off of their record highs as questions around Fed independence intensify, excitement over AI heat up. Still with me here is Citadel founder and CEO Ken Griffin.Look, I' I've really been interested to ask you about just the overall feel of the market right now given it's been so much more resilient and strong than people thought it would be this year, making record high after record high. How does that feel to you. Well, I mean, if if we came into the start of thi ...

Core Viewpoint - The new $100,000 H-1B visa fee proposed by the Trump administration could hinder innovation in the U.S. by driving top talent abroad and discouraging the establishment of new startups [1][2][3]. Group 1: Impact on Innovation - Investor Kevin O'Leary expressed concerns that the new immigration rules may prevent future companies like Apple, Oracle, and Google from emerging, as they originally started in garages [2]. - O'Leary emphasized that the U.S. should retain top foreign students instead of expelling them after training, suggesting that graduates from prestigious institutions like MIT and Harvard should have the right to stay and contribute to the economy [3]. Group 2: Policy Details - The Trump administration's new policy includes a one-time $100,000 fee for each H-1B visa petition, which is a significant increase from current fees, but does not affect renewals or existing visa holders [4]. - The administration claims that this move aims to prioritize American workers and reduce dependence on immigrant labor, alongside introducing a $1 million "gold card" residency program for wealthy investors [5]. Group 3: Reactions from the Industry - The policy has generated mixed reactions, with figures like Andrew Ng from Google Brain expressing that it creates anxiety among skilled immigrants and that the U.S. should focus on attracting more talent rather than fostering uncertainty [5].

Legal & Policy Concerns - A federal judge temporarily blocked the administration from deporting over 600 Guatemalan children, some expressing fear of returning [2] - The National Immigration Law Center filed a complaint alleging the government's actions were unlawful and reckless, violating the law and the Constitution [2] - The government's attempt to deport children in the middle of the night on a holiday weekend raised concerns about their intentions [9][10] - The US is an outlier for not being a signatory to the Convention on the Rights of the Child, which prioritizes the best interest of the child in government policies [19][20] Humanitarian & Ethical Issues - The administration's actions were described as cruel and unconscionable, targeting vulnerable children, including orphans and those who have suffered abuse [11][13][14] - There are concerns that the government is prioritizing deportation over the children's right to present their case before an immigration judge [12][14] - The government's actions appear to be driven by an agenda to deport as many black and brown people as possible, potentially targeting Guatemalan children due to an agreement with the Guatemalan government [16] Legal Actions & Future Steps - The court ordered the government to report when the children who were deported are returned to the shelters [22] - Legal briefing is scheduled, and the court will decide whether to extend protection for the children in 14 days [23] - There are concerns about similar agreements with other countries, such as El Salvador, and the potential impact on children of other nationalities [24][25]

In downtown Los Angeles, high-profile ICE raids accompanying protests and the deployment of the National Guard in June set off a ripple effect on local business. The Independent Hospitality Coalition, which represents some 900 local businesses and workers in Los Angeles, said the raid struck fear into the immigrant workforce. >> We're having workers that are literally uh, you know, self-deporting themselves. You know, they're afraid. Accommodation and food services has one of the highest concentrations of i ...

Industry Overview - California's agriculture is the largest state producer and exporter of agricultural products, accounting for over a third of the country's vegetables, fruits, and nuts [1] - The agricultural sector in California is a $49 billion industry [3] Labor Force and Immigration - 75% of farm workers in California are immigrants, and a third are undocumented [2] - Immigrant workers possess decades of skills that are difficult to replicate or automate [5] - The industry faces worker shortages that predate changes in immigration policy [5] - Workers express fear and concern about their safety due to immigration raids, but continue working due to financial necessity [4] Policy and Challenges - The Trump administration believes there is no shortage of American workers and aims to create American jobs while enforcing immigration laws [6] - The Department of Labor is working to streamline the visa process for temporary workers [6] - There is a recognized labor shortage in farm work, which is not a job many people want to do [7]

Immigration & Labor Market - People fleeing calamity have a right to seek safety [1] - Access to a rich country's labor market is not an automatic right for those seeking safety [1]

Immigration Policy & Legal Challenges - The Trump administration's attempt to deport Kilmore Arbrego Garcia to Uganda was temporarily blocked by a federal judge, pending a hearing on his opportunity to challenge the removal [1] - The administration's actions are viewed as potentially violating due process, especially after Garcia agreed to go to Costa Rica with full legal status and protection [1] - Concerns are raised that the government is using Garcia's case to set an example and scare immigrants, potentially leading to the wrongful deportation of US citizens [2] - The government must prove that Garcia will not be persecuted or imprisoned in Uganda, or sent back to El Salvador [1] Societal Impact & Political Concerns - The case highlights concerns about the federal government potentially transforming the justice system to serve its bidding, raising questions about due process for all [1] - There is a perceived reticence from both political parties to defend immigrants, with fears that President Trump is weaponizing the issue of immigration [3] - Garcia's situation is seen as a warning that what happened to him could happen to anyone, with concerns about people disappearing and not being heard from again [3]

Immigration & Labor Market - People fleeing calamity have a right to seek safety [1] - Access to a rich country's labor market is not an automatic right for those seeking safety [1]

Recession Risks - Moody's Analytics认为美国经济衰退的风险非常高，就业是关键 [1] - 如果三个月移动平均失业率上升超过 0.5 个百分点，历史上预示着经济衰退 [3] - 由于移民政策等因素，失业率可能无法完全反映经济疲软 [4] - 负面的就业数据将是经济衰退的明确信号，历史上，当就业数据转为负值时，通常是经济衰退开始的月份 [2][6] - 要确认经济衰退，需要看到一系列持续的经济活动下降，而不仅仅是一两个月的负面数据 [6][7] Labor Market Dynamics - 稳定失业率所需的每月新增就业人数约为 2550 人 [5] - 由于数据测量问题等因素，潜在的就业增长可能接近该水平 [5] - 移民对劳动力增长至关重要，但更严格的移民政策导致外国出生的劳动力增长下降，甚至开始下降 [8][9][10] - 由于外国出生劳动力减少，整体劳动力规模低于年初水平，从而压低了失业率 [10][11] - 劳动力增长放缓会降低经济的潜在增长率，并可能导致通胀压力 [11][12] Consumer Spending - 今年总体实际消费支出停滞不前，部分原因可能是移民政策的影响 [12][13]

Yeah, m Mr. . President, you you've talked about you want success, not retribution. The Justice Department now tapping a grand jury uh to look into uh the intelligence community's assessment of what was happening um with Russia. Is that you have nothing to do with uh with with directing the Justice Department. I have nothing to do Pam is doing a great job.I have nothing to do with it. I will tell you this. Uh they deserve it.I was happy to hear it. I actually read it just like you did. I have nothing to do ...