Harvard University is facing a nearly $2 billion freeze in federal funding, according to Bloomberg. The freeze follows the university’s rejection of a deal with the Trump administration, triggering economic concerns across the state. Harvard’s defiance risks destabilizing a multibillion-dollar ecosystem of hospitals, biotech companies, and research institutions that depend on federal support. Stop-work orders have already hit NIH-backed projects, and Harvard Medical School has advised researchers to cut costs. Experts warn that the broader impact on the state's workforce and innovation sectors could be severe.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Harvard University is facing an nearly $2 billion freeze in federal funding, according to Bloomberg.
00:07Freeze files the university's rejection of a deal with the Trump administration,
00:10triggering economic concerns across the state.
00:13Harvard's defiance risks destabilizing a multibillion-dollar ecosystem of hospitals,
00:19biotech companies, and research institutions that depend on federal support.
00:24Stop work orders have already hit NIH-backed projects,
00:27and Harvard Medical School has advised researchers to cut costs.
00:31Experts warn that the broader impact on the state's workforce and innovation sectors could be severe.
00:36For all things money, visit Benzinga.com slash GSTV.