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Thursday, 26 June 2025

Is Fed Chair Powell on the way out?

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Thu Jun 26 2025

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

President Donald Trump  said Wednesday he's hunting for a new Federal Reserve chair to replace Jerome Powell and has narrowed his search to "three or four people."

Can Trump replace Powell? Who are the three or four people? Paul Davidson has our report.

All you need to know about the Trump tax bill

President Donald Trump's "Big Beautiful Bill" has traveled a long road through Congress, surviving many political tweaks and tradeoffs.

In a new report, my colleagues collect the items in the bill that will likely have the biggest impact on your lives and your dollars, from tax cuts to program cuts. It's all you need to know about the Trump tax bill.

Are those Trump phones really made in America?

President Trump's newly launched cellular service is defending its claims that its T1 cellphones are produced in the United States.

But are they, really? The device's website no longer touts the "made in America" message it displayed when it launched. Instead, it uses language like "brought to life right here in the USA," and "proudly American."

📰 More stories you shouldn't miss 📰

Costco will experiment with EV charging
Here's the best tool for paying off credit card debt
JCPenney announces layoffs
What is a compressed work schedule?
3 reasons to take Social Security before age 70

About The Daily Money

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.

U.S. President Donald Trump speaks during a press conference at the NATO summit in The Hague, Netherlands June 25, 2025.

President Donald Trump said he's already looking for a new Fed chair to replace Jerome Powell and has narrowed his search to '3 or 4 people'

.
 

Big Beautiful Bill 101: What you need to know

With a July 4 deadline looming, here are the basics of President Donald Trump's Big Beautiful Bill and where it stands in the Senate.

In this photo illustration taken on June 16, 2025, an iPhone displays the website for The Trump Organization's mobile phone service with a message that reads "Our MADE IN THE USA 'T1 Phone' is available for pre-order now. Reserve your phone TODAY!!'
 

Trump Mobile defends claims new cellphones are 'made in America'

President Donald Trump's newly launched cellular service is defending its claims that its T1 cellphones are made in the U.S.

Outside the new Costco in Redding. The store on Bechelli Lane opens on Tuesday, Nov. 22, 2022.
 

Why this Costco experiment could revolutionize EV charging in the U.S.

Costco partnered with a company founded by former SpaceX engineers to provide fast electric vehicle charging services to customers at one Florida location.

A credit card is placed into a credit card machine for processing payments on September 11, 2023 in La Puente, California.
 

Got credit card debt? The best tool to pay it off might surprise you.

What's the best consumer option for paying down credit card debt? The answer is steeped in irony and may surprise you.

A JCPenney is seen at the Indian River Mall in West Vero Corridor, Florida on June 18, 2025.
 

JCPenney closing warehouse, laying off nearly 300 workers

JCPenney is set to close its Alliance Supply Chain facility in Haslet, Texas around Nov. 1, affecting 296 employees.

A serious-looking person sits next to a laptop, focusing on a sheaf of papers and a calculator.
 

3 reasons I'll be taking Social Security long before age 70

Waiting as long as you can to claim benefits makes sense. There's a case to be made, however, for claiming Social Security earlier rather than later.

Close up of a Businessman working on a laptop computer and holding and looking at a mobile phone in the office.
 

Thinking about a 4-day workweek? Here's what you need to know

Compressed work schedules trade longer workdays for fewer of them. Learn the pros and cons and how to ask your boss for one.

Shoppers check out the items for sale during the Pensacola Vintage Collective Vintage Block Party at the Handlebar Sunday, May 4, 2025. The event featured over 50 vintage dealers and artists with handmade items, food, drinks, and live music.
 

Gen Z shoppers are changing the buying landscape

This isn't your parents or grandparents pattern of shopping. Gen Z'ers are changing things up.

USA TODAY
 

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