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US health groups vow to fight GOP cuts to Medicaid and Obamacare

Cuts worth $880bn could leave 13 million Americans without insurance in proposal that has divided Republicans

US advocacy groups are waging an intensive campaign to protect Medicaid and Obamacare from Donald Trump’s “big, beautiful bill”, after House Republicans proposed an $880bn cut that could leave an estimated 13 million Americans without health insurance.

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Tariffs are falling more quickly than Wall Street expected

Tariffs remain the story of the stock market right now.

Early Monday morning, a 90-day tariff pause between the US and China set the tone for the week in markets.

The S&P 500 (^GSPC) closed the week up around 5%, while the Nasdaq Composite rallied around 7%. Both major indexes are now higher than they were before Trump escalated the trade war by pushing tariffs to their highest level in a century.

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Fed Chair Powell outlines plans to cut 10% of staff in coming years

Federal Reserve Chair Jerome Powell laid out plans to trim the central bank’s workforce by 10% across its system in the coming years, according to a message sent to Fed staff Friday obtained by Yahoo Finance.

In his message, Powell said he’d directed Fed leaders “to find incremental ways to consolidate functions where appropriate, modernize some business practices, and ensure that we are right-sized and able to meet our statutory mission.”

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Trump found guilty: Stock markets slide, read investor reaction

Donald Trump became the first U.S. president to be convicted of a crime on Thursday when a New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election.
After deliberations over two days, the 12-member jury announced it had found Trump guilty on all 34 counts he faced. Unanimity was required for any verdict.
The verdict, which came back after the close of the U.S. stock market, plunges the United States into unexplored territory ahead of the Nov. 5 presidential election, when Trump, the Republican candidate, will try to win the White House back from Democratic President Joe Biden.

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