Money, Wealth & Power—A Daily Look at the Financial World
The federal government’s new Trump accounts program promises to hand every eligible child a $1,000 Treasury seed deposit, but parents considering adding their own money to these accounts face a tangle of restrictions, uncertain rules, and structural gaps that could undercut the program’s appeal. With a July 4, 2026, launch date approaching and proposed regulations…
Sen. Bernie Sanders of Vermont traveled to Los Angeles to campaign for a ballot initiative that would impose a one-time 5% wealth tax on California billionaires, putting him in direct conflict with Gov. Gavin Newsom, who has warned the measure would drive the ultra-rich out of the state. The clash between two of the Democratic…
Federal prosecutors and state regulators across the country have taken enforcement action against faith-based health plans that collected millions in member contributions while leaving families responsible for nearly all of their own medical bills. A co-founder of Medical Cost Sharing, a Christian health care sharing ministry based in St. Joseph, Missouri, pleaded guilty to an…
American households still paying elevated prices at the grocery store now have a concrete, government-backed playbook for relief. The USDA’s Thrifty Food Plan, updated as recently as January 2026, estimates the cost of a minimally priced but nutritionally adequate market basket, and the foods that anchor that plan are almost all shelf-stable staples available at…
America’s post-pandemic economic recovery continues to split along income lines, lifting asset-rich households while leaving millions of low-wage workers stuck near or below the poverty threshold. The pattern, widely described as a K-shaped recovery, has persisted well beyond the initial pandemic shock, and new federal data on wages, wealth, and poverty suggest the gap is…
Federal rules now give consumers real leverage to push back on five common bills that most people pay without question. From medical charges and airline fees to internet service, car insurance, and credit card interest, a mix of transparency mandates and dispute pathways means households can cut costs on expenses that quietly drain budgets each…
Gold futures were quoted near $5,200 per ounce in early trading as investors fled equities following President Trump’s announcement of a sweeping global import tariff, a move that collided with a Supreme Court ruling limiting the White House’s claimed legal authority for trade barriers. The collision of a constitutional rebuke and an aggressive new levy…
Citigroup shares dropped sharply after a report revealed the bank is preparing to sell an additional 24% stake in its Mexican subsidiary Banamex for roughly $2.5 billion, a move that would accelerate its exit from consumer banking in Mexico ahead of a planned initial public offering. The sale raises fresh concerns about billions of dollars…
Banks across the United States are now sorting software companies into winners and losers based on their exposure to artificial intelligence, creating a two-tier lending system that is driving up borrowing costs and killing deals for firms seen as vulnerable to AI disruption. The Federal Reserve’s January 2026 lending survey confirms that commercial lenders are…
The Dow Jones Industrial Average plunged 821.91 points on Monday, February 23, 2026, closing at 48,804.06 after President Donald Trump unleashed a brutal tariff hike in the form of an abrupt import surcharge escalation that spooked investors and triggered a broad sell-off across U.S. equities. The S&P 500 dropped 1% to 6,837.75 and the Nasdaq…