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At this time’s high tales
The U.S. financial system shrank in the course of the first three months of the yr, in line with 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. Client confidence has plummeted to its lowest stage because the onset of the COVID-19 pandemic, the inventory market has skilled a big decline, and lots of fear {that a} recession could also be imminent. The brand new knowledge comes simply earlier than hundreds of protesters are anticipated to take to the streets nationwide to protest the Trump administration for Could Day.
The U.S. financial system contracted at an annual charge of 0.3% within the first three months of the yr as President Trump’s tariffs spark fears a couple of 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 getting 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 may 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 essential 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 does not obstruct Ukraine’s path to the European Union. The deal notably doesn’t think about earlier U.S. navy support to Ukraine as debt that requires compensation. Though the deal does not explicitly deal with safety ensures, Ukrainians are seeing the language coming from the White Home as a very good 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 duty is seen as a proxy for the Pakistani navy. Pakistan denies any connection to the shootings, and tensions are rising between the 2 international locations.
- 🎧 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, in line with NPR’s Diaa Hadid. Most people who had been killed had been Hindu males. A former chief of Pakistani-held Kashmir says there was near-daily gunfire change because the preliminary shootings. Hadid says each international locations exchanging gunfire have nuclear weapons, and issues could spin out of control. Analysts say there is a sample of each international locations escalating and ready for outsiders to diffuse the state of affairs.
Deep dive
Idea of economic literacy and schooling. 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 schooling committee introduced a plan on Tuesday to restructure the federal pupil mortgage system. This proposal goals to get rid of Grad PLUS loans, impose strict limits on Guardian PLUS loans, and create a system the place schools 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 few 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 compensation plans just like the Earnings-Contingent Compensation and Pay As You Earn. Of their place might be a normal compensation plan with mounted month-to-month funds and a compensation help plan with month-to-month funds primarily based on the borrower’s adjusted gross earnings.
- 🎓 The definition of full-time school attendance for Pell Grant recipients to obtain the utmost sum of money might be elevated to 30 credit score hours per yr. To qualify for any Pell Grant in any respect, college students might be required to be enrolled in 15 credit score hours per yr.
- 🎓 After July 1, 2026, the plan would get rid of the Grad PLUS mortgage program for graduate faculty debtors, together with backed loans for undergraduate debtors. These loans allow the federal government to cowl curiosity on the loans whereas debtors are nonetheless enrolled at school.
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 satisfy with a Columbia pupil imprisoned there regardless of being charged with no crime. Vermont Public has achieved 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 instructed me he attracts on many issues to seek out internal peace: the spirituality of Buddhism, the sense of injustice over his imprisonment and the inspiration of his personal folks — Palestinians who’re residing via devastating violence in Gaza and attempting to outlive weeks of support being blocked and greater than a yr and a half of fixed assaults.
The federal government is attempting to deport him and a number of different college students over their advocacy, invoking a hardly ever used immigration act, saying their presence can have hostile results on U.S. international coverage.
Throughout our dialog, the lawful everlasting resident mentioned quite a bit about his love for america and its promise of freedom. He mentioned 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 mentioned, that he may lastly freely communicate 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, regardless that he has been vocal in his condemnation and opposition to that bigotry as he requires peace.
Mahdawi instructed 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 decide in Vermont as his case continues. He’s nonetheless susceptible to deportation however he instructed me he has hope within the justice system, the ideas of the Structure and hope “that this nation will fulfill its promise.”
Hearken to the total dialog here.
3 issues to know earlier than you go
A invoice that might ban fluoride from Florida’s public ingesting 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)
- Hire The Rooster co-founder Jenn Thompkins says extra folks have been fascinated with their chicken rental service this yr, partly attributable to egg shortages at shops. (by way of KCUR)
This text was edited by Suzanne Nuyen.
