Shumita Basu

That's when Trump started to turn the dial down, indicating tariffs on China would be lower than the current 145%. And acting on the advice of the Treasury and Commerce Secretaries Tuesday, Trump began backing down on his threats to fire Federal Reserve Chief Jerome Powell. Markets rallied and the dollar surged as a result of Trump's shifting messages.

That's when Trump started to turn the dial down, indicating tariffs on China would be lower than the current 145%. And acting on the advice of the Treasury and Commerce Secretaries Tuesday, Trump began backing down on his threats to fire Federal Reserve Chief Jerome Powell. Markets rallied and the dollar surged as a result of Trump's shifting messages.

That's when Trump started to turn the dial down, indicating tariffs on China would be lower than the current 145%. And acting on the advice of the Treasury and Commerce Secretaries Tuesday, Trump began backing down on his threats to fire Federal Reserve Chief Jerome Powell. Markets rallied and the dollar surged as a result of Trump's shifting messages.

Axios notes, however, this all comes as polls show for the first time in Trump's political life, most voters disapprove of his handling of the economy. And finally, last year, the rich got richer by a whole lot. The Wall Street Journal reports $1 trillion of wealth was created in 2024 for the 19 wealthiest American households. That's more than the value of Switzerland's entire economy.

Axios notes, however, this all comes as polls show for the first time in Trump's political life, most voters disapprove of his handling of the economy. And finally, last year, the rich got richer by a whole lot. The Wall Street Journal reports $1 trillion of wealth was created in 2024 for the 19 wealthiest American households. That's more than the value of Switzerland's entire economy.

Axios notes, however, this all comes as polls show for the first time in Trump's political life, most voters disapprove of his handling of the economy. And finally, last year, the rich got richer by a whole lot. The Wall Street Journal reports $1 trillion of wealth was created in 2024 for the 19 wealthiest American households. That's more than the value of Switzerland's entire economy.

It's the biggest one-year increase in wealth for these households. Surging stock prices in 2024, coupled with already sizable gains in 2023, supercharged wealth creation for this very small group. The Journal notes, despite those figures, it's very volatile.

It's the biggest one-year increase in wealth for these households. Surging stock prices in 2024, coupled with already sizable gains in 2023, supercharged wealth creation for this very small group. The Journal notes, despite those figures, it's very volatile.

It's the biggest one-year increase in wealth for these households. Surging stock prices in 2024, coupled with already sizable gains in 2023, supercharged wealth creation for this very small group. The Journal notes, despite those figures, it's very volatile.

And that's because so much of this money is tied up in stocks, meaning as President Trump's trade war continues, some of this net worth can swing by billions a day. The richest people in the country now control a record share of American wealth. You can find all these stories and more in the Apple News app.

And that's because so much of this money is tied up in stocks, meaning as President Trump's trade war continues, some of this net worth can swing by billions a day. The richest people in the country now control a record share of American wealth. You can find all these stories and more in the Apple News app.

And that's because so much of this money is tied up in stocks, meaning as President Trump's trade war continues, some of this net worth can swing by billions a day. The richest people in the country now control a record share of American wealth. You can find all these stories and more in the Apple News app.

And if you're already listening in the news app right now, we've got a narrated article coming up next. Mother Jones has the story of how one of the country's biggest for-profit hospital companies, Stewart Healthcare, is bankrupt and responsible for countless mistreated patients, all because of the system's private equity owners.

And if you're already listening in the news app right now, we've got a narrated article coming up next. Mother Jones has the story of how one of the country's biggest for-profit hospital companies, Stewart Healthcare, is bankrupt and responsible for countless mistreated patients, all because of the system's private equity owners.

And if you're already listening in the news app right now, we've got a narrated article coming up next. Mother Jones has the story of how one of the country's biggest for-profit hospital companies, Stewart Healthcare, is bankrupt and responsible for countless mistreated patients, all because of the system's private equity owners.

If you're listening in the podcast app, follow Apple News Plus Narrated to find that story. And I'll be back with the news tomorrow.

If you're listening in the podcast app, follow Apple News Plus Narrated to find that story. And I'll be back with the news tomorrow.

If you're listening in the podcast app, follow Apple News Plus Narrated to find that story. And I'll be back with the news tomorrow.

Good morning. It's Wednesday, April 23rd. I'm Shamita Basu. This is Apple News Today. On today's show, why economists are worried about the value of the dollar. It might be time to delete yourself from the Internet. And the executive producer of 60 Minutes resigns.

Good morning. It's Wednesday, April 23rd. I'm Shamita Basu. This is Apple News Today. On today's show, why economists are worried about the value of the dollar. It might be time to delete yourself from the Internet. And the executive producer of 60 Minutes resigns.