Good morning! It’s Daniel de Visé with your Daily Money.
Apologies: President Trump is having such a busy first week, we feel like we're playing catchup.
Amid the flurry of actions Trump took his first day in office Monday was a memorandum calling on federal agencies to find ways to solve what Americans have called their biggest financial burden: inflation.
The memo signified Trump’s effort to swiftly address a historic post-pandemic spike in consumer prices. Inflation is a chief reason Americans said they disapproved of former President Joe Biden and voted for Trump over former Vice President Kamala Harris.
Do 3 billionaires make a 'broligarchy'?
The three wealthiest Americans, Elon Musk, Jeff Bezos and Mark Zuckerberg, sat together Monday in a VIP section at the second inauguration of President Donald Trump.
It was an historic moment: a literal concentration of wealth, the core of a group of billionaire guests with a collective worth of more than $1 trillion. Images of the Billionaires’ Row circled the globe, inspiring the same fascination that greeted pictures of five current and former presidents assembled at Jimmy Carter’s funeral, earlier in the month.
The sight of five presidents at Carter’s funeral, by most accounts, was stirring. The sight of three tech billionaires at the Trump inauguration, for some observers, left an altogether different impression.
Are diversity initiatives illegal now?
Just days after taking office, Trump has sent a clear message to corporate America: Follow the federal government’s lead and “end illegal DEI discrimination” or face civil rights investigations.
Trump’s executive order aims to end DEI in the federal government and affirmative action in federal contracting. It bars the government from pushing contractors to diversify their workforce and taps federal agencies to use Civil Rights-era laws “to combat illegal private-sector DEI preferences, mandates, policies, programs and activities.”
The action is expected to have an immediate chilling effect on corporate DEI efforts.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.