The stock market heads into Monday on a streak of volatility it just can’t seem to shake. What had been shaping up as a positive holiday-shortened week turned on a dime Wednesday when Federal Reserve Chairman Jerome Powell signaled concern that President Donald Trump ‘s tariffs could increase inflation and slow economic growth. Speaking at an economic forum, Powell said , “We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension.” The S & P 500 went from modestly lower Wednesday to closing down more than 2% on Powell’s remarks. Throw in Trump on…
Author: usaeverydaylife
Alistair Berg | Digitalvision | Getty ImagesAfter the latest stock market volatility, many Americans are feeling stressed about the future of the U.S. economy and their finances. That uncertainty can be even more unsettling for near-retirees who are preparing to leave the workforce and tap portfolios for living expenses, experts say.To that point, your first five years of retirement are the “danger zone” for tapping accounts during a downturn, according to Amy Arnott, a portfolio strategist with Morningstar Research Services.If you take assets from accounts when the value is falling, “there’s less money left in the portfolio to benefit from…
Business owners and CEOs are already stocking up on inventory, and some American shoppers are panic buying big-ticket items in anticipation of President Donald Trump’s tariffs. The sudden buying binge could cause an “artificially high” level of economic activity, said Federal Reserve Bank of Chicago President Austan Goolsbee.”That kind of preemptive purchasing is probably even more pronounced on the business side,” Goolsbee told CBS’ “Face The Nation” on Sunday, adding: “We heard a lot about preemptive building-up of inventories that could last 60 days, 90 days, if there [was] going to be more uncertainty.”Businesses stockpiling inventory and consumers accelerating their…
(L-R) US President Donald Trump, Vice President JD Vance and Secretary of State Marco Rubio (R) look on during a meeting with Israeli Prime Minister Benjamin Netanyahu in the Oval Office of the White House in Washington, DC, on April 7, 2025. Saul Loeb | Afp | Getty ImagesThe Trump administration could soon roll out sweeping changes to the U.S. State Department, according to a draft executive order obtained by CNBC that lays out what it calls a “disciplined reorganization” of the nation’s diplomatic service.The 16-page draft order, which is not dated but appears to be prepared for President Donald Trump’s…
Putting off making end-of-life plans for your finances can lead to expensive legal battles, big tax bills and financial chaos for your family — even if you’re rich and famous. While it can be easy to assume that celebrities would have airtight estate plans, time and time again, Hollywood stars have made costly decisions that could have been easily avoided. The good news: Learning from these missteps can help you prevent catastrophes of your own, even if you don’t have $1 million in the bank. Here are three examples of what we can learn from celebrity estate plans.Aaron Carter didn’t have a…
Many U.S. companies have expressed concern, or even anger, about the wide-ranging tariffs recently announced by President Donald Trump, which economists say threaten to increase their companies’ costs and result in higher prices for consumers.The tariffs, and the back-and-forth nature of their rollout, has spurred “panic-buying” of a wide range of products that could face price surges in the coming months, according to a Reuters report on Wednesday that cited U.S. Commerce Department data.The CEO of Back Market, an online marketplace for used and refurbished tech devices, says he’s witnessed the sales jump firsthand. Back Market saw its sales triple…
Japan, South Korea and Taiwan are considering investing in a massive natural gas project in Alaska in an attempt to reach trade deals that would both satisfy demands from President Donald Trump and avoid high U.S. tariffs on their exports.Alaska has long sought to build an 800-mile pipeline crossing the state from the North Slope in the Arctic Circle to the Cook Inlet in the south, where gas would be cooled into liquid for export to Asia. The project, with a staggering price tag topping $40 billion, has been stuck on the drawing board for years.Alaska LNG, as the project…
U.S. Senator Chris Van Hollen (D-MD) speaks to the media during a visit to El Salvador to advocate for the release of Kilmar Abrego Garcia in San Salvador, El Salvador, April 16, 2025. Jose Cabezas | ReutersMaryland Sen. Chris Van Hollen said Sunday that his trip to El Salvador to meet with Kilmar Abrego Garcia was about “defending the rights of this man to due process,” and not about “defending the man.””The Trump administration has admitted in court that he was wrongfully detained and wrongfully deported,” the Maryland senator said on ABC News’ “This Week.””My mission and my purpose is to…
Immigration and Customs Enforcement agents detain a man after conducting a raid at the Cedar Run apartment complex in Denver, Colorado, U.S., Feb. 5, 2025. Kevin Mohatt | ReutersVideo from Friday night shows Immigration and Customs Enforcement buses full of Venezuelan migrants headed toward an airport in North Texas before abruptly turning around before the Supreme Court ruled the Trump administration must, for now, refrain from deporting Venezuelan men based in the state under the Alien Enemies Act.At least 28 detainees — most, if not all, understood to be Venezuelan nationals — were placed on buses Friday evening at ICE’s Bluebonnet Detention…
The fear in the stock market from President Donald Trump’s April 2 tariff announcement appears to have cooled off, but it’s hard for many investors to feel like their favorite individual stocks have safely avoided any trade war damage. The second week of trading after Trump’s initial rollout of the “reciprocal” tariffs ended with no announced new trade deals, even though some of the biggest import levies are now paused until at least July . The White House and Trump say there have been discussions with several countries, including Japan, but the details and timelines remain murky. “We don’t really…
