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EXPLAINED: 50 | Vintage Vibes

Plus: The Trump administration's American dream revisionism, 50 theses on DOGE, what people get wrong about extreme MAGA, and more...

Reason

Trump’s Treasury Secretary claims cheap goods are ‘not the essence of the American Dream’

‘The American Dream is rooted in the concept that any citizen can achieve prosperity,’ Treasury Secretary Scott Bessent said

The Independent UK

Cheap goods ‘not essence of American dream’, Trump official says amid tariff price fears

Treasury secretary Scott Bessent defends the new administration’s aggressive trade strategy

The Guardian - US

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In a win for Silicon Valley, Senate votes to overturn key payments regulation that could benefit Elon Musk’s X

The rule was enacted under the Biden administration’s Consumer Financial Protection Bureau last November.

Fortune

Warren puts Treasury nominee on the spot ahead of hearing - Roll Call

Sen. Elizabeth Warren is pressing Treasury nominee for answers about his oversight of the pandemic-era Paycheck Protection Program.

Roll Call

Britain dashes hope of quick Donald Trump peace deal for Ukraine warning 'there's a long way to go yet'

Trump reveals Zelensky sent him a letter in which Ukraine’s leader expressed a willing to sign a minerals deal ‘at any time’

Evening Standard

Stock Market Today: Dow Drops 670 Points on Trade War Effect

A prodigious rally by the battered leader of the AI revolution typified an increasingly volatile picture for investors, traders and speculators.

Kiplinger

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Trump’s Tariffs and retailers’ warnings: The truth behind the US economy and whether a recession is coming

The economy under Trump’s first month in office is not what he promised on the campaign trail and it looks to be an uncertain year for the average American, economists told The Independent

The Independent UK

Last year, GDP expanded by 2.8% and the private sector added 1.5 million jobs—but Trump’s Treasury secretary claims that growth was ‘brittle underneath'

Scott Bessent said the private sector “has been in a recession.”

Fortune

Treasury Secretary Scott Bessent sees inflation plummeting to the Federal Reserve’s 2% target despite Trump’s tariffs

Bessent blamed “four years of disastrous policies,” for scorching inflation, claimed the current administration was working everyday to lower prices, and China would eat any tariffs.

Fortune

Warren Buffett says tariffs leave consumers footing the bill: ‘The tooth fairy doesn’t pay ’em’

Warren Buffett isn’t one to wade into politics, but as an outsider warned tariffs are likely to prove inflationary.

Fortune

Investment Deal For Ukraine's Rare Earth Minerals Not Currently On Table

Treasury Secretary clarifies no current consideration for investment deal with Ukraine. Zelensky expresses concerns about security guarantees in any agreem...

Top News

‘Bewildering’: US media and politicians react to Trump’s televised attack on Zelenskyy

The showdown between the US president and the Ukrainian leader dumbfounded various outlets and politicos

The Guardian - US

Mexico And Canada Consider Matching US Tariffs On China

Treasury Secretary Bessent supports Mexico and Canada aligning with US tariffs on China to create 'Fortress North America' and curb Chinese imports.

Top News

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Fortune

Trump gets lower yields—because investors fear growth is slowing

Stocks dipped this week as investors grappled with softer economic data and renewed tariff threats.

The Guardian - AU

Ukraine war briefing: Trump panders to Russia by shutting Kyiv out of Nato, says Kaja Kallas

EU foreign secretary says US wouldn’t have sat down with Bin Laden to ask what he wanted after 9/11; strikes on Kharkiv energy targets. What we know on day 1,101

Reason

Interest Rates Are Falling—Thank Government Spending Cuts for That

Cuts to government spending mean fewer bonds, lower borrowing costs, and potentially a break for borrowers.

Top News

G20 Meeting In South Africa Highlights Global Economic Priorities

G20 meeting in South Africa addresses debt relief, climate change, and global economic resilience with notable absences and challenges.

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Top News

Trump's Cabinet Meeting To Address Agency Loyalty And Priorities

President Trump's upcoming Cabinet meeting and key figures in his administration for the second term.

The Conversation

View from The Hill: the mud flies, but will the voters take much notice?

In these scrappy days before the prime minister announces the election date, the mud and the personal insults are flying, despite the politicians knowing voters hate this sort of thing.

AAP

Australia warned not to hit back at US with tariffs

The treasurer has pushed for Australia to be exempt from US tariffs on steel and aluminium imports, with a decision due soon from Donald Trump.

Top News

US Imposes Sanctions On Individuals And Oil Tankers

Recent U.S. sanctions target individuals and oil tankers from China, UAE, and India for supporting Iran and militant groups.

Top News

Trump Appointees' Contradictions In Statements Vs. Actions

Explore how Trump appointees' actions post-confirmation differed from their initial promises and the potential impact on policies and agencies.

AAP

Treasurer to push for tariff exemption in US meeting

As superannuation giants attempt to build ties with US investors in Washington, Treasurer Jim Chalmers will try to secure a tariff deal with his US counterpart.

The Independent UK

Ukraine offers mineral deal to US as olive branch to Donald Trump

Hopes raised of commercial deal as Macron meets president for talks on peace and European security

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