ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
The Federal Reserve held interest rates steady Wednesday and maintained its forecast for two rate cuts later in 2025, as officials struggled to respond to the double-barreled threats spawned by President Donald Trump's widening trade war – rising inflation and a slowing economy. |
Although Trump recently slapped tariffs on many imports and unveiled plans for more aggressive duties to come, Paul Davidson reports, the Fed's decision underscores that it's taking a wait-and-see approach. |
Claiming Social Security gets harder |
The Social Security Administration announced it will be implementing "stronger identity verification procedures," including requiring millions of recipients and applicants to physically go to agency field offices instead of proving their identity via phone. |
The stated purpose is to crack down on fraudulent claims. But the AARP decried the new policy, saying the move would effectively "force people to visit offices in-person" and "result in more headaches and longer wait times to resolve routine customer service needs." |
Why cash-poor Americans can't get ahead |
Ilaria D'Anca, 44, in Mesa, Arizona felt that she had everything going for her, with a graduate degree in advertising and public relations. She worked for 20 years as a healthcare executive. |
But between 2016 and 2019, she hit a rough patch that included a career change, an unprecedented flooding of her home and property, a legal battle and a falling-out with family members that depleted her savings. |
📰 More stories you shouldn't miss 📰 |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | The Federal Reserve kept its forecast for two rate cuts this year amid Trump's tariffs, which are expected to push up inflation and slow the economy | | | | The Social Security Administration announced that anyone who can't log into their online accounts must visit a local office to prove their identity. | | | | How the odds are stacked against cash poor Americans living paycheck to paycheck. But these two women are trying to beat them anyway. | | | | Employee feedback alone, informs the rankings. Winning companies were chosen based on the results of surveys taken throughout 2024. | | | | The Nasdaq roared higher over the past two years. And the momentum continued into this year — until recently. | | | | Ben & Jerry's alleged its CEO was removed by Unilever without their approval over the ice cream maker's political posts. | | | | The Vancouver International Auto Show has booted Tesla out of the event following a swarm of attacks on the brand's electric vehicles. | | | | Here's 4 advantages of having a 401 (k) | | | | President Trump and DOGE's Elon Musk are stoking deeply rooted resentments of "big government" and federal employees. They are not the first. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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