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. |
This news puts a fresh spin on the term "for-profit education": The IRS may revoke Harvard University's tax-exempt status after the Ivy League university refused to meet President Donald Trump's wide-ranging demands for changes to its policies. |
Trump and Harvard are battling over his allegations the university failed to adequately protect Jewish students during pro-Palestinian protests last year, along with his claim that the university is a bastion of diversity, equity and inclusion programs. Harvard contends the federal government is, in effect, attempting an unlawful takeover. |
Fed chair Powell in no hurry to lower rates |
President Donald Trump's on-again, off-again tariffs have roiled markets and raised recession fears. |
But Federal Reserve Chair Jerome Powell on Wednesday stuck to his slow and steady message: Let's keep inflation contained and wait for greater clarity on a hazy outlook. |
With Trump's tariffs predicted to both increase inflation and slow the economy, leaving the Fed torn between its two missions, Powell reiterated that the central bank's main job is to keep prices in check. |
Trump thinks Powell should be in a hurry |
President Trump responded with vitriol to Powell's comments, saying his "termination cannot come fast enough!" in a social-media reply to the Fed chair's warning about tariffs, and urging him to lower interest rates. |
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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 university rejected Trump's demands that it change a number of policies. | | | | Fed's Powell says tariffs put its goals of low inflation and a stable economy in tension. So it will 'wait for greater clarity' before cutting rates | | | | Trump lashed out on April 17 with a social media post, saying Powell "should have lowered Interest Rates... long ago, but he should certainly lower them now." | | | | In nearly identical letters to customers this week, the two companies said they will be increasing prices starting April 25. | | | | Costco has mastered the impulse buy. Shoppers pop in for eggs or rotisserie chicken only to wheel out baskets piled higher than a tractor trailer. | | | | Tariffs put the U.S. at a short-term disadvantage and will harm competition for North American automakers once Chinese automakers arrive, Lawler said. | | | | U.S. stock futures were mixed Thursday after getting dragged lower on Wednesday by a warning from chip giant Nvidia and stagflation fears. | | | | It's hard to pin down exactly how much billionaires receive in compensation that's subject to Social Security payroll tax under current law. | | | | The CEO of a global investment company believes Social Security could be reformed by switching to retirement savings similar to that of Australians. | | | | 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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