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    Trump Has Raised Questions About Fort Knox. His Allies Are Trying to Cash In.

    <!–> [–><!–> –><!–> [–><!–> –><!–> –>Bloomberg News<!–> –><!–> [–><!–>Mr. Trump’s interest in the gold reserves has been largely overshadowed by his family’s involvement in variouscryptocurrency ventures, which has raised ethical concerns about potential conflicts of interest.–><!–> –><!–> [–><!–>The president has a long history ofembracing conspiracy theories, and is known to be a fan of golden […] More

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    Trump’s 100-Day Economic Report Card

    Market chaos and economic uncertainty has been a feature of the president’s first few months back in office. DealBook breaks down the milestones, and what to expect next.Trump’s tumultuous start When President Trump took office in January for his second term, business leaders anticipated an administration that would lower taxes, loosen regulations and open up deal-making.Instead, Wall Street got chaos. The president has taken a cudgel to global trade with enormous tariffs, threatened the independence of the Fed and made the landscape for M.&A. more uncertain.Under Trump, the S&P 500 has fallen about 8 percent, the worst performance for the first 100 days of a presidency since President Gerald Ford in 1974.Back then, the Watergate scandal prompted political instability and the economy was facing a recession and an oil crisis. The markets this year have been socked by the president’s protectionist trade policy.Here are the themes that have defined Trump’s first 100 days in office. Trump will commemorate the occasion with a rally in Michigan this evening, and the White House is expected to announce relief on auto tariffs.On that note: General Motors on Tuesday pulled its full-year forecast as it reported first-quarter results. “The prior guidance cannot be relied upon” amid tariffs uncertainty, said Paul Jacobson, the company’s C.F.O.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Inside a Union’s Fight Against Trump’s Federal Job Cuts

    Leaders of the union representing government workers say their battle is galvanizing but also alarming. “It’s insulting to say,” one said, “that we are lazy.”On a warm, still evening this month, Corey Trammel, a counselor at the Oakdale Federal Correctional Institution in central Louisiana, was at his 11-year-old son’s baseball game when the calls and emails started pouring in from dozens of his colleagues, worried about the latest threat to their union.Mr. Trammel is the president of Local 3957 of the American Federation of Government Employees, the country’s largest union of federal workers. Until recently, Local 3957 had nearly 200 dues-paying members, all at Oakdale, including officers, teachers, case managers and food service workers.Many, if not most, supported President Trump in the 2024 election, said Mr. Trammel, a registered Republican. And many were “in denial,” he said, as the new administration, with tacit support from a Republican Congress, moved quickly to slash and reshape the federal government.The union, which represents some 800,000 workers across more than a dozen federal agencies, has been at the forefront of resistance to that effort. At a moment of peril for the civil service, the union has tried to assert itself as a countervailing force. In doing so, it has also become a target.With his son on the pitcher’s mound, Mr. Trammel was figuring out how to deal with the Trump administration’s latest challenge: The Bureau of Prisons would no longer allow union dues to be deducted from paychecks. Within days, Local 3957 shrank to fewer than 50 paying members, who had signed up to use an online portal to pay their dues — $19.40 every two weeks.“They keep kicking us when we are down,” Mr. Trammel said.In interviews, more than a dozen union leaders and lawyers across the country described their current work as galvanizing, but also alarming and relentless. Some said the crisis had laid bare the challenges of a union that is, by its nature, decentralized and diverse. It is really a federation of many unions, including Border Patrol agents in heavily Republican states, environmental researchers in liberal ones and an array of political inclinations in between.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    The Trump Billionaires Who Run the Economy and the Things They Say

    “You have to laugh to keep from crying,” one Republican pollster said about recent comments by the billionaires on the stock market, retirement funds and Social Security.Sometimes the billionaires running the federal government sound like they’re talking to other billionaires.“THIS IS A GREAT TIME TO BUY!!!” President Trump wrote on social media last week, offering a stock tip that appeared aimed at the investor class rather than ordinary Americans watching their plummeting 401(k)s.Howard Lutnick, the secretary of commerce, has said his mother-in-law wouldn’t be worried if she didn’t get her monthly Social Security check. Elon Musk, who is slashing the Social Security Administration’s staff, has called it a “Ponzi scheme.” Treasury Secretary Scott Bessent has asserted that Americans aren’t looking at the “day-to-day fluctuations” in their retirement savings.And if automakers raise their prices because of Mr. Trump’s tariffs? “I couldn’t care less,” the president told Kristen Welker of NBC.Democrats say the comments show how clueless Mr. Trump and his friends are about the lives of most Americans, and that this is what happens when billionaires run the economy. Republicans counter that highlighting the quotes is unfair cherry picking, and that in the long run everyone will benefit from their policies, even if there’s pain now. Psychologists say that extreme wealth does change people and their views of those who have less.Whoever is right, it is safe to say that almost no one thinks the comments have been politically helpful for Mr. Trump, or calming for Americans.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Unions Form Pro Bono Legal Network for Federal Workers Targeted by Trump

    The nation’s largest federation of unions has put together a pro bono legal network that aims to help federal employees whose jobs have been lost or threatened under the Trump administration.More than 1,000 lawyers in 42 states have completed training in order to offer their services, organizers said. The new pro bono group — Rise Up: Federal Workers Legal Defense Network, which was formally introduced on Wednesday — was formed by the A.F.L.-C.I.O. along with several other unions and civil rights groups, including We The Action, a network that connects lawyers with nonprofits, Democracy Forward, which has been leading legal action against the Trump administration, and the Leadership Conference on Civil and Human Rights.Unions that represent federal workers — such as the American Federation of Government Employees, which is also involved in the legal network — have been at the forefront of efforts to push back against President Trump’s efforts to significantly downsize the civil service. But lawsuits challenging mass firings and other moves by Elon Musk’s cost-cutting initiative, known as the Department of Government Efficiency, have had mixed success. And litigation takes time.With dismissals expected to accelerate in the coming months, the unions decided to add a new dimension to their legal efforts. The new group aims to provide guidance and legal support to individual workers — regardless of whether they are union members — to challenge their employment status through the agencies that they work for, as well as various administrative boards.“We knew there would be a lot of quick and valiant legal work in the federal courts, but we knew there was a chance you’d have to go to the employee agencies to protect the workers’ rights,” Deborah Greenfield, the network’s executive director, said in an interview. One challenge for the network and their potential clients is that some of these bodies, like the National Labor Relations Board, are themselves in a state of limbo as courts weigh whether Mr. Trump has the power to fire appointed board members.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Musk Slams Navarro, Trump’s Trade Adviser, Exposing Inner Circle Rift

    Elon Musk slammed President Trump’s top trade adviser as “dumber than a sack of bricks” on Tuesday, exposing a remarkable rift in the president’s inner circle over the wide-ranging tariffs that have upended the global economy.The feud between Mr. Musk and Peter Navarro, who has been the architect of many of Mr. Trump’s trade plans, has been simmering for days as the administration’s new tariffs have caused huge losses across global financial markets.So far, Mr. Trump has not weighed in on the clash between his top aides, both of whom he claims to hold in high regard. But Mr. Musk’s words — though aimed at Mr. Navarro — were a rare criticism of Mr. Trump’s policies from one of his most influential advisers.Mr. Musk, the world’s richest man, is estimated to have lost roughly $31 billion since Mr. Trump announced sweeping tariffs on foreign countries on April 2, according to the Bloomberg Billionaires Index.The squabble escalated on Monday when Mr. Navarro said on CNBC that Mr. Musk was not a “car manufacturer” but a “car assembler” because Tesla, Mr. Musk’s electric vehicle company, relied on parts from around the world.Mr. Musk fired back on Tuesday, calling Mr. Navarro a “moron” and “dumber than a sack of bricks” in a post on X, the social media site he owns. Later in the day, Mr. Musk doubled down, posting that he wanted to “apologize to bricks.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Used Tesla Market Heats Up as Owners Sell to Protest Elon Musk

    Teslas that have been sold or traded in during the backlash against the company’s chief executive have become bargains on lots.For the last several months, Ken Harvey has been cultivating a budding side business for his Honda and Mazda dealerships in Northern California: selling used Teslas.A few times a month, Mr. Harvey picks up a few pre-owned Teslas at a local automobile auction and offers them for sale, often at surprisingly affordable prices, thanks to a $4,000 federal tax credit that customers get for purchasing used electric vehicles priced under $25,000. Some consumers who qualify for state incentives, he said, end up with used Model 3 sedans for well under $20,000 — less than half the cost of a new one.“We sold three in the last week, maybe 20 since the beginning of the year,” said Mr. Harvey, whose family owns four Honda dealerships and two Mazda franchises in Alameda County, a suburb of San Francisco where Tesla has a car plant.“We have three in stock now, and two are on the way,” he added. “They won’t stay around more than a few days.”Welcome to the flip side of the backlash against Elon Musk, Tesla’s chief executive and one of President Trump’s closest confidants — a thriving trade in used Teslas.The used Tesla business had been growing for years before Mr. Musk and Mr. Trump became close, but their bonhomie has turbocharged it.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    They Want More Babies. Now They Have Friends in the Trump White House.

    The American conservative movement has long worked to put the nuclear family at the center of cultural and economic life. Lately, it has added a twist. It wants to make those families bigger.As fertility rates have declined, a “pronatalist” cluster on the right wing has been making the argument that public policy should encourage more childbearing. With President Trump’s return to office, this group appears to have gotten closer to the center of power than ever before.Broadly speaking, they want measures like more support for families with several children; speedier and cheaper options for higher education that would allow Americans to start procreating earlier; help for those having trouble conceiving; and initiatives that elevate childbearing to a national service.Steps like the move by Transportation Secretary Sean Duffy, a father of nine, to direct federal funds toward places with high marriage rates and birthrates are exactly what many have in mind.Movement on their priorities, however, has been slow. And in some cases, pronatalists have found the White House’s actions counterproductive.“So much has happened, and so much has been such a mixed bag,” said Patrick Brown, a fellow at the conservative Ethics and Public Policy Center who is focused on family policy. “That’s going to be the tension, that angel on one shoulder and the devil on the other. At this stage, the devil seems to be winning out.”Fertility Rates Are Falling Across the WorldBut faster in some countries than in others.

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    The average number of children born to a woman in select countries and regions
    E.U. refers to European Union countries, even before the bloc was formed.Source: The World BankBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More