By Lauren Young, Digital Special Projects Editor |
|
|
Greetings On The Money readers, Investors are pulling money out of the U.S. markets at a record clip. Are you one of them? Equity mutual funds and exchange-traded funds (ETFs) domiciled in the United States saw outflows of $24.7 billion in May, the largest in a year, data from LSEG Lipper showed. The culprit? Concerns about U.S. fiscal policy, rising debt and the risk that trade tariffs will trigger a recession. You can read more about that here. In an interesting twist, the U.S. markets have staged a comeback in recent weeks, with the major indexes nearing or at all-time highs. And, yet, the U.S. dollar reached a low for the year. Sometimes it feels like it is a chore to keep up with all of the money mayhem. We've got you covered! Follow our markets, currency and economic news for clear, concise coverage from my super-smart Reuters colleagues. |
| |
I love piggy banks. ILLUSTRATION: Sarah Slobin/REUTERS |
Did you know that with very few exceptions, the U.S. government spends more each year on everything from defense to healthcare than it collects in taxes? No wonder the current congressional budget debates are so intense as lawmakers battle over what to prioritize and how big an annual deficit to tolerate. Check out this informative tax-and-spend data visualization which delves into income distribution along with important aspects of government spending, including Social Security and Medicare. (I love the piggy banks!) What aspect of Trump's Big, Beautiful Bill are you paying the most attention to? Write to me at onthemoney@thomsonreuters.com. (I also love reader mail.) |
|
|
Economists expect tariffs to raise prices in the US, but American shoppers are still spending. Sarah Henry of Logan Capital Management explains how tariffs might take three-to-six months to feed through the supply chain. Watch here. |
|
|
Is beauty worth the cost? 💇🏼♀️ |
If you are a person (or a poodle), it is pricey to be pretty! REUTERS/Temilade Adelaja |
Studies show that attractive people get more attention from teachers and mentors and enjoy better job offers. Research published in the Journal of Economics and Business in 2023 found that good-looking bank CEOs take in over $1 million more in total compensation, on average, than their less attractive peers. Pretty comes at a price. One friend pays an astonishing $500 every month to have her hair colored. Another spends several hundred dollars for intricately designed gel manicures. Add in Botox, facials, eyelash extensions, expensive lotions and potions – the monthly costs skyrocket quickly. How much are you spending on personal maintenance each year? One writer tracked her beauty expenses, and the final tally was astounding. I don't shell out a lot of money for makeup or hair appointments. If you know me well, you know that I place a premium on hand care, though. What's your biggest beauty expenditure, and have you found any creative ways to cut costs? Share your beauty secrets at onthemoney@thomsonreuters.com. |
|
|
Ringing the student debt alarm ⏰ |
Are you drowning in student debt? REUTERS/Jim Urquhart |
My heart goes out to anyone paying student loans right now. President Donald Trump is upending the system relied on by many of the 42.7 million Americans who borrowed money for their education and collectively owe more than $1.6 trillion in debt. Workforce cuts at the U.S. Department of Education, the ending of pandemic-era amnesty for defaulted borrowers, and the elimination of the most affordable repayment plans are impacting those with perfect repayment records as well as those delinquent in their payments who got amnesty during the pandemic but were required to start repaying their loans in May. The backlog of unprocessed applications for low-cost repayment plans has risen from 1,494,792 on February 4 to 1,985,726 on April 30, according to Education Department data. If you are caught in a student-debt quagmire, I want to hear from you. How much do you owe, and how are you tackling the repayments? Write to me at onthemoney@thomsonreuters.com. |
|
|
This newsletter was edited by Mark Porter. |
Reuters On the Money is sent every other week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you've engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions |
|
|
|
No comments:
Post a Comment