Donald Trump received a glass disc with a 24-karat gold base from Apple CEO Tim Cook on Wednesday, as the tech titan announced a $100 billion investment in U.S. manufacturing facilities.
Why it matters: The gold bauble is the latest lavish gift presented to Trump in an attempt to curry favor with the president this year, raising both ethical and legal concerns.
Tourism is down by roughly 11% in Las Vegas this year, with visitor numbers, convention attendance and hotel occupancy all lower than usual, according to the Las Vegas Convention and Visitors Authority.
Why it matters: Las Vegas' financial health, with its large gambling market attractive to those with disposable income, is typically considered an indicator of the broader U.S. economy's strength.
President Trump is abandoning — or actively undermining — core pillars of U.S. strategy toward China in pursuit of a legacy-defining trade deal with Xi Jinping.
Why it matters: With tax cuts extended, tariff rates set and billions of dollars of investment flowing into the U.S., Trump is now fixated on the largest remaining puzzle piece in his economic agenda.
The 50% tariffs President Trump announced this week were officially designed to drive a wedge between India and Russia, but so far the only rupture they've caused is with the United States.
The Trump administration is preparing plans to sell stock in mortgage-finance giants Fannie Mae and Freddie Mac that could kick off before the end of the year, a senior administration official confirmed.
Why it matters: Significant changes to Fannie and Freddie's capitalization structures, or any signal of weaker government backing, could have big implications for the mortgage market.
The Trump administration is planning to issue an executive order soon clarifying the status of gold bars amid tariff confusion, a White House official says.
Why it matters: Reports that gold bars would be tariffed caused the precious metal to spike to an all-time high in U.S. trading.
In naming Stephen Miran to the governor spot vacated Friday as Adriana Kugler steps aside, President Trump is seeking to place someone who wants a root-and-branch overhaul of the Fed inside the central bank.
The big picture: In the near term, Miran will, if confirmed, be a voice for Trump's desired interest rate cuts.
But Miran's critique of how the Fed operates goes much deeper — and his conception of central bank independence is distinctly non-mainstream.
President Trumpsigned an executive order instructing the Department of Labor to reevaluate guidance for employers on incorporating assets like private credit, real estate and crypto into retirement plans.
Why it matters: Private credit is golden child of Wall Street, promising diversification and potentially enormous returns compared to the stock market. But the catch is in the name: private.
Spending is being held up by the wealthy, while consumption from middle and lower income groups continues to fade.
Why it matters: The tale of two economies, also called a K-shaped recovery, is taking shape before tariffs have even taken effect, which could further pressure lower-income spenders, and potentially, the labor market.
The White House is conceding that a major project it has undertaken to keep an invasive fish out of the Great Lakes has stalled — and is pointing its finger squarely at an archenemy: Illinois Gov. JB Pritzker.
Why it matters: The flare-up highlights how tensions between President Trump and Pritzker — a potential 2028 Democratic presidential candidate who regularly savages the administration — are boiling over.
