Kate Bullivant

Meanwhile, a federal judge in Maryland has similarly ruled that the Department of Government Efficiencies move to dismantle the U.S. Agency for International Development was likely unconstitutional on multiple fronts. The ruling directed Doge to halt its work in closing down USAID and ordered it to reinstate access to electronic systems for employees and contractors who were shut out.

Meanwhile, a federal judge in Maryland has similarly ruled that the Department of Government Efficiencies move to dismantle the U.S. Agency for International Development was likely unconstitutional on multiple fronts. The ruling directed Doge to halt its work in closing down USAID and ordered it to reinstate access to electronic systems for employees and contractors who were shut out.

The judge took particular issue with Elon Musk's role, saying the billionaire has acted as the de facto head of Doge without having been properly appointed with Senate approval, likely in violation of the appointments clause in the Constitution. The Trump administration's lawyers have maintained that Musk is a presidential advisor, giving recommendations with no binding legal effect.

The judge took particular issue with Elon Musk's role, saying the billionaire has acted as the de facto head of Doge without having been properly appointed with Senate approval, likely in violation of the appointments clause in the Constitution. The Trump administration's lawyers have maintained that Musk is a presidential advisor, giving recommendations with no binding legal effect.

Without comment on the specific ruling, Musk appeared on Fox News last night and again defended the need to cut government spending.

Without comment on the specific ruling, Musk appeared on Fox News last night and again defended the need to cut government spending.

White House Deputy Press Secretary Anna Kelly called the ruling against Doge a, quote, miscarriage of justice and said the government plans to appeal the decision. And setting up yet another legal fight, President Trump has fired two Democratic commissioners from the Federal Trade Commission, countering Supreme Court precedent that says the FTC's commissioners can only be removed for cause.

White House Deputy Press Secretary Anna Kelly called the ruling against Doge a, quote, miscarriage of justice and said the government plans to appeal the decision. And setting up yet another legal fight, President Trump has fired two Democratic commissioners from the Federal Trade Commission, countering Supreme Court precedent that says the FTC's commissioners can only be removed for cause.

is the latest move in Trump's campaign to exert more control over independent government agencies. The FTC has a bipartisan structure, but Tuesday's dismissals mean only two members remain, both of whom are Republican. FTC chief Andrew Ferguson maintains that any of the FTC's commissioners can be removed by the president.

is the latest move in Trump's campaign to exert more control over independent government agencies. The FTC has a bipartisan structure, but Tuesday's dismissals mean only two members remain, both of whom are Republican. FTC chief Andrew Ferguson maintains that any of the FTC's commissioners can be removed by the president.

Alvaro Bedoya and Rebecca Slaughter have both called their dismissal illegal, with Bedoya saying that he will challenge it. An FTC spokesman declined to comment. In market news today, it's all about the Fed, with policymakers widely expected to keep rates on hold.

Alvaro Bedoya and Rebecca Slaughter have both called their dismissal illegal, with Bedoya saying that he will challenge it. An FTC spokesman declined to comment. In market news today, it's all about the Fed, with policymakers widely expected to keep rates on hold.

But as finance editor Alex Frangos explains, it'll be Federal Reserve Chair Jerome Powell's speech today that really matters to investors.

But as finance editor Alex Frangos explains, it'll be Federal Reserve Chair Jerome Powell's speech today that really matters to investors.

Fitch Ratings has added its name to a slew of prominent forecasters, downgrading the outlook for world economic growth. Its economic outlook predicts that the global trade war will reduce US and world growth, push up US inflation and delay Federal Reserve rate cuts. The US is now expected to grow 1.7% this year. well below growth rates of closer to 3% in both 2023 and 2024.

Fitch Ratings has added its name to a slew of prominent forecasters, downgrading the outlook for world economic growth. Its economic outlook predicts that the global trade war will reduce US and world growth, push up US inflation and delay Federal Reserve rate cuts. The US is now expected to grow 1.7% this year. well below growth rates of closer to 3% in both 2023 and 2024.

Fears of a recession in the US have grown sharply in the last month, with the Trump administration ramping up tariffs on Canada, Mexico and China, while extending tariffs to imports of steel and aluminum. Coming up, tariffs might be roiling markets and the economic outlook right now, but they're not a new phenomenon. We look at what a decades-old chicken tax tells us about Trump's tariff plans.

Fears of a recession in the US have grown sharply in the last month, with the Trump administration ramping up tariffs on Canada, Mexico and China, while extending tariffs to imports of steel and aluminum. Coming up, tariffs might be roiling markets and the economic outlook right now, but they're not a new phenomenon. We look at what a decades-old chicken tax tells us about Trump's tariff plans.

That story after the break. Since the 1960s, the US has imposed a 25% tariff on imported trucks, after President Lyndon B. Johnson introduced a tax hitting back at European levies on American poultry. The so-called chicken tax may be from the history books, but as the Trump administration pursues a barrage of new tariffs, Auto's reporter Stephen Wilmot explains how it shows the power of tariffs to

That story after the break. Since the 1960s, the US has imposed a 25% tariff on imported trucks, after President Lyndon B. Johnson introduced a tax hitting back at European levies on American poultry. The so-called chicken tax may be from the history books, but as the Trump administration pursues a barrage of new tariffs, Auto's reporter Stephen Wilmot explains how it shows the power of tariffs to