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Right now’s high tales
The U.S. economic system shrank in the course of the first three months of the yr, based on figures launched by the Commerce Division yesterday. The U.S. gross home product contracted at an annual rate of 0.3% within the first quarter of the yr. Shopper confidence has plummeted to its lowest stage for the reason that onset of the COVID-19 pandemic, the inventory market has skilled a big decline, and plenty of fear {that a} recession could also be imminent. The brand new knowledge comes simply earlier than 1000’s of protesters are anticipated to take to the streets nationwide to protest the Trump administration for Might Day.
The U.S. economic system contracted at an annual price of 0.3% within the first three months of the yr as President Trump’s tariffs spark fears a few recession.
Jeff Kowalsky/AFP by way of Getty Photographs
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Jeff Kowalsky/AFP by way of Getty Photographs
- 🎧 The primary quarter was about folks making ready for President Trump’s commerce conflict, whereas the second quarter, which started in April, is when these tariffs begin to chew, NPR’s Scott Horsley tells Up First. Greg Daco, the chief economist at EY Parthenon, says individuals are being extra cautious about spending cash, particularly on issues like going out to eat. When households reduce on client spending, it could possibly put the brakes on economic growth. The potential for a U.S. recession might hinge on whether or not the president’s tariffs keep intact or are weakened, Daco says.
The U.S. and Ukraine have signed a complete deal to collectively put money into Ukraine’s vital minerals, uncooked supplies and pure assets. Either side are calling the deal a win. The minerals settlement goals to supply the White Home an economic incentive to maintain its investments in Ukraine’s protection and reconstruction because the Trump administration seeks to barter an finish to the conflict with Russia.
- 🎧 NPR’s Joanna Kakissis says most Ukrainians she talked to are very guarded in regards to the deal. Volodymyr Landa, a senior economist with the Centre for Financial Technique in Kyiv, says that, in contrast to earlier variations of the deal, the ultimate model would not obstruct Ukraine’s path to the European Union. The deal notably doesn’t contemplate earlier U.S. army assist to Ukraine as debt that requires reimbursement. Though the deal would not explicitly handle safety ensures, Ukrainians are seeing the language coming from the White Home as a great signal.
A manhunt is ongoing after a militant assault killed 26 folks in India-controlled Kashmir final week. India accused Pakistan of getting a connection to the attack. The group that claimed accountability is seen as a proxy for the Pakistani army. Pakistan denies any connection to the shootings, and tensions are rising between the 2 nations.
- 🎧 Eyewitnesses say some gunmen requested their victims in the event that they had been Muslim and shot them in the event that they weren’t, based on NPR’s Diaa Hadid. The general public who had been killed had been Hindu males. A former chief of Pakistani-held Kashmir says there was near-daily gunfire trade for the reason that preliminary shootings. Hadid says each nations exchanging gunfire have nuclear weapons, and issues could spin out of control. Analysts say there is a sample of each nations escalating and ready for outsiders to diffuse the state of affairs.
Deep dive
Idea of economic literacy and training. Human hand and commencement cap with greenback signal. Collage.
Yulia Romashko/Getty Photographs
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Yulia Romashko/Getty Photographs
Republicans on the Home training committee introduced a plan on Tuesday to restructure the federal scholar mortgage system. This proposal goals to remove Grad PLUS loans, impose strict limits on Mum or dad PLUS loans, and create a system the place faculties should reimburse the federal authorities for a portion of the debt if college students fail to repay their loans. The plan is predicted to chop over $330 billion in federal spending, which might assist offset the prices of extending President Trump’s tax cuts. This proposal is a part of a reconciliation package deal that might cross via Congress. Listed below are a number of the key changes Republicans have outlined:
- 🎓 After July 1, 2026, new debtors will not have the choice of President Joe Biden’s SAVE Plan, or different reimbursement plans just like the Earnings-Contingent Reimbursement and Pay As You Earn. Of their place shall be a typical reimbursement plan with mounted month-to-month funds and a reimbursement help plan with month-to-month funds primarily based on the borrower’s adjusted gross earnings.
- 🎓 The definition of full-time faculty attendance for Pell Grant recipients to obtain the utmost amount of cash shall be elevated to 30 credit score hours per yr. To qualify for any Pell Grant in any respect, college students shall be required to be enrolled in 15 credit score hours per yr.
- 🎓 After July 1, 2026, the plan would remove the Grad PLUS mortgage program for graduate faculty debtors, together with sponsored loans for undergraduate debtors. These loans allow the federal government to cowl curiosity on the loans whereas debtors are nonetheless enrolled in class.
From our hosts
by Leila Fadel, Morning Version and Up First host
On Monday, I traveled to a jail in St. Albans, Vt. I walked previous a wall of barbed wire and thru a sequence of locked doorways to fulfill with a Columbia scholar imprisoned there regardless of being charged with no crime. Vermont Public has performed very important in-depth protection of this case. In addition they helped us safe courtroom paperwork and generously opened their studios for our broadcasting.
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Leila Fadel
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Leila Fadel
Mohsen Mahdawi entered in his jail uniform with a way of calm. He informed me he attracts on many issues to search out inside peace: the spirituality of Buddhism, the sense of injustice over his imprisonment and the inspiration of his personal folks — Palestinians who’re dwelling via devastating violence in Gaza and making an attempt to outlive weeks of assist being blocked and greater than a yr and a half of fixed assaults.
The federal government is making an attempt to deport him and a number of different college students over their advocacy, invoking a not often used immigration act, saying their presence can have hostile results on U.S. international coverage.
Throughout our dialog, the lawful everlasting resident stated so much about his love for the USA and its promise of freedom. He stated he’d by no means lived with freedom till he arrived right here about 10 years in the past. He grew up in a refugee camp within the Israeli-occupied West Financial institution. He has misplaced family and friends and had not had freedom of motion or freedom of speech with out retaliation.
It was right here, he stated, that he may lastly freely converse his thoughts. So he protested the Gaza conflict on his campus. These protests had been chaotic, and there have been accusations of antisemitism. Now the federal government accuses Mahdawi of stoking that antisemitism, though he has been vocal in his condemnation and opposition to that bigotry as he requires peace.
Mahdawi informed me his option to protest is what landed him within the jail the place we spoke. A day after our dialog aired on Morning Version he was launched by a federal choose in Vermont as his case continues. He’s nonetheless susceptible to deportation however he informed me he has hope within the justice system, the rules of the Structure and hope “that this nation will fulfill its promise.”
Take heed to the total dialog here.
3 issues to know earlier than you go
A invoice that might ban fluoride from Florida’s public consuming water is heading to the governor’s desk.
Romain Costaseca/Hans Lucas/AFP by way of Getty Photographs
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Romain Costaseca/Hans Lucas/AFP by way of Getty Photographs
- Florida is ready to ban fluoride from its drinking water. A invoice is heading to Republican Gov. Ron DeSantis for a signature.
- The Los Angeles County program that trains previously incarcerated people for a profession in firefighting has just lately launched its first all-female cohort. (by way of LAist)
- Lease The Hen co-founder Jenn Thompkins says extra folks have been taken with their chicken rental service this yr, partly attributable to egg shortages at shops. (by way of KCUR)
This article was edited by Suzanne Nuyen.
