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. Thanks to Betty Lin-Fisher for piloting the newsletter ship these past few days. |
Elon Musk has officially left the Trump administration, capping the billionaire's turbulent four-month run leading a contentious effort to slash the federal government. |
Court blocks Trump's tariffs |
A federal court has ruled that President Trump can't use an emergency-powers law to impose tariffs on foreign countries, dealing a blow to his trade agenda. |
Trump invoked the International Emergency Economic Powers Act of 1977 to justify his tariffs, portraying the nation's trade imbalance as a national emergency. The court, evidently, was not convinced. But the fight is not over. |
What to know about recessions |
The looming threat of recession has hung over American consumers for what seems like forever, an ongoing economic drama that stretches back to the early pandemic years. |
The chances of a recession in 2025 currently stand at about 40%, according to a May 27 report from J.P. Morgan. |
If a recession comes, how will we know? When will it end? What will be the fallout on Wall Street? Here are some answers. |
📰 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. | | Elon Musk has officially left the Trump White House, capping a turbulent effort to slash the federal government by the world's richest man. | | The ruling from the United States Court of International Trade found Trump can't use a 1977 emergency powers law to impose tariffs. | | | | Here are five facts about economic recessions, starting with this one: You won't know when it arrives. | | | | One victim told authorities they liquidated their retirement accounts to invest with the scammers they met online. | | | | Trump's spending bill, now headed to the Senate, would exempt religious colleges from a big tax increase on endowments. | | | | Travelers to Hawaii will now have to pay the country's first-ever climate change tax. Here's what to know. | | | | The average retiree on Social Security collects $2,000 a month. Here's how you can boost that number. | | | | Nvidia prepares to report its earnings on Monday. Why is the report such a big deal? For a couple of reasons. See why. | | | | A survey of more than 1,000 Americans found that living to 100 is a prospect that sparks wonder and fear. | | | | 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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