Brace yourself if you're flying in the coming days and weeks for long lines and delays at the airport.
Why it matters: Wednesday, May 7 is the first day a Real ID compliant license — or another acceptable document — is needed to board a commercial aircraft in the U.S.
The big picture: Low- and middle-income consumers are increasingly shying away from fast-food restaurants like McDonald's, a sign that people are pinching pennies amid recession fears.
The United States would be better off, and safer, with a prosperous free-trade world than one where others are left behind, investor Warren Buffett said Saturday.
Why it matters: Buffett, one of the world's richest people and most closely watched investors, has been a skeptic of trade deficits in the past but also a clear critic of President Trump's tariffs and other trade barriers.
The White House's budget proposes enormous cuts to federal spending — some of which, if enacted, would put millions of the poorest Americans in a bad spot.
Why it matters: The proposal is just a starting point, but it's a dark one, say advocates for the disadvantaged.
President Trump says a recession is OK in the short term, in a clip of a pre-recorded interview with NBC's "Meet the Press with Kristen Welker" released on Friday.
Why it matters: Business owners and politicians alike have shared fears of a recession given the uncertainty surrounding the president's tariffs.
👟 Nike, Adidas and Skechers co-signed a letter from a major footwear trade group asking President Trump to exempt shoes from his reciprocal tariffs. The Footwear Distributors and Retailers of America said the tariffs pose an "existential threat" to the footwear industry and to families. (CNBC)
👷♂️ The U.S. economy added 177,000 jobs in April as the White House ramped up tariffs, while the unemployment rate held at 4.2%. The report is stronger than expected; economists had penciled in roughly 133,000 jobs added last month. (Axios)
🚦 EToro is considering launching its U.S. IPO as soon as next week. The trading and investment platform delayed its offering in early April amid tariff-related stock volatility. (Bloomberg)
Temu has stopped shipping products from China to the U.S. ahead of an executive order from President Trump that went into effect on Friday.
Why it matters: The "de minimis" loophole was an important protection for businesses overseas and U.S. customers, exempting low-value packages from tariffs — until now.
Venture capitalists are in an odd spot: Financially motivated to pump billions of dollars into AI startups that could hasten their own extinction.
But not everyone is fretting propagation of the sector.
Driving the news: Marc Andreessen said on a recent podcast that he could envision venture capital being "one of the last remaining fields that people are actually doing."
Conagra Brands has agreed to sell canned pasta brand Chef Boyardee to Hometown Foods for $600 million in cash.
Why it matters: This is part of a trend whereby food conglomerates are dumping worse-for-you brands, even if iconic, due to the rise of GLP-1s and protein-heavy diets.
President Trump's first federal budget proposal follows through on his campaign promise to slash large chunks of federal spending while boosting security, which could have ramifications for Americans' health care, education, and housing.
Why it matters: While presidential requests almost never survive the Congressional appropriations process intact, the GOP majority in both chambers could line up behind many of Trump's requested cuts.
There is little evidence of trade war pain in the job market, which kept chugging along last month with strong hiring and low levels of joblessness.
Why it matters: If America's economy is buckling under President Trump's trade regime, Friday's all-important jobs report shows that employers did not get the memo — at least, as of mid-April.
Everyone now knows that the bond market has a unique sway on President Trump's policymaking — and a subtle, but important, threat from the Japanese government could move his stance on trade with a crucial ally.
Why it matters: Japan is the largest foreign holder of U.S. Treasuries, and even the vaguest hint that it could dump those holdings is powerful leverage with the administration. Following through on the threat could cause interest rates to spike.
Amid all the talk of what's happening to mortgage rates, it's often easy to lose sight of the fact that rates vary widely between lenders on any given day.
That gap has grown significantly over the past couple years.
Why it matters: It's not easy to work out how attractive a mortgage rate is. Two offers from two different companies might have different headline rates, but might also vary on everything from origination fees and closing costs to the amount of money it costs to "buy points" and lower the interest rate paid.
The Tesla board has over 700 billion reasons why it might want Elon Musk to stay on as CEO, rather than replacing him with someone with a bit more time to spare.
Why it matters: As directors of a public company, Tesla's board members have a fiduciary responsibility to their shareholders, which means keeping the share price as high as possible.
President Trump warned American families this week that they may have to make do with fewer — and more expensive — holiday toys.
But for Trump's own inner circle, a veritable Golden Age is well underway.
Why it matters: Trump's family has enjoyed a historically lucrative first 100 days, leveraging its proximity to power — and raking in billions — through a flood of ethically murky business ventures.
President Trump will lob his FY 2026 budget request at Congress on Friday, calling for deep cuts in foreign aid and renewable energy and increased spending for the the border and national security, according to administration officials.
Why it matters: In size and scope, Trump's budget amounts to another declaration of war on the status quo – and the priorities and programs that animate the Democratic Party.
