🗞️Trump calls Fed Chair to the White House

May 29th, 2025

What happened today 🇺🇸,

• Federal Reserve Chairman, Jerome Powell, released a statement saying he met with President Trump at the White House today, Powell said he did not discuss expectations for monetary policy and that policy will depend on incoming economic information though it was reported that Trump told Powell he was “making a mistake” not cutting rates…Powell did however say he and the President discussed growth, inflation, and employment

• The White House has reportedly sent out a new “merit-based” hiring plan for federal workers… government agencies have been ordered to immediately stop hiring people based on race and gender

• Elon Musk posted on social media late last night that his time as a Special Government Employee has “come to an end” and he has concluded his work with the Department of Government Efficiency (DOGE)

• The U.S. Department of Health and Human Services has canceled a contract worth over $700 million with Moderna for bird flu vaccines for humans

• The United Nations is planning to cut its $3.7 billion budget by 20% and slash 6,900 jobs after U.S. funding decreases, per Reuters

• United Airlines and JetBlue have announced a new partnership called "Blue Sky” which will allow customers to earn and redeem frequent flyer miles and enjoy reciprocal elite benefits across both airlines, the partnership also enables each carrier to sell the other's flights on their websites…read more about it here 

• CVS has announced it will be closing 271 stores across the U.S.

• Mortgage rates rose slightly for the third consecutive week, with the average 30-year fixed rate now at 6.89% up from 6.86% last week

• Applications for jobless benefits rose by 14,000 for the week ending May 24th to 240k, above the expectations of 230k

• DOW up .28% / S&P up .4%

• Israel has approved the establishment of 22 new Jewish settlements in the occupied West Bank…Israeli officials say the move is intended to strengthen Israel’s hold on the territory and prevent the creation of a Palestinian state, while Palestinian leaders and much of the international community have condemned it as a dangerous escalation that further undermines prospects for a two-state solution and violates international law

• Later in the day, Israel agreed to the proposal from the U.S. for a temporary ceasefire with Hamas…at the time of writing this there has been no formal answer from Hamas yet

Bonus: A cool look at the most popular web browsers

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Quote of the day: “It is better to be hated for what you are than to be loved for what you are not.” ―Andre Gide, Autumn Leaves

Have a great night!

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