The Senate tax and spending bill passed a procedural hurdle in a 51-49 vote over the weekend, and the chamber could start a "vote-a-rama" on amendments to the package Monday morning. President Donald Trump has indicated that he wants the bill on his desk by July 4.
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US bond traders are riding a three-week winning streak and expect more gains as rate-cut positions grow ahead of Thursday's jobs report. With Treasury yields near two-month lows and signs of a slowing economy, markets are pricing in up to two Fed cuts this year, despite internal divisions among policymakers.
All 22 major US banks passed the Federal Reserve's annual stress test, demonstrating they could endure a severe recession scenario involving over $550 billion in losses. The 2025 test reflected realistic current economic risks and market dynamics, a departure from last year's unusually harsh assumptions. The strong results point to the resilience of the banking system and could allow banks to return more capital to shareholders through dividends and buybacks.
President Donald Trump stated he likely won't extend the July 9 deadline for countries to finalize trade deals and avoid increased tariffs, despite having the flexibility to do so. This contrasts with Treasury Secretary Scott Bessent's assessment, who suggested some agreements might not be ready by that date and indicated a Labor Day target for wrapping up most trade efforts.
The Congressional Budget Office estimates the Senate version of President Trump's tax and spending bill would increase US deficits by nearly $3.3 trillion over a decade under current law. The bill includes $4.5 trillion in tax cuts and uses a nontraditional scoring method that assumes current policies remain, drawing criticism from Democrats and some economists.
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Room prices will start at $1,500 per night when New York City's fabled Waldorf Astoria hotel reopens in the coming months after an eight-year renovation that dramatically cut the number of guest rooms and added residences while restoring its Art Deco features, iconic ballrooms and lobby. "I want to bring this grand dame back to life and have it take its rightful place back as the most iconic hotel in the world," said Hilton President and CEO Chris Nassetta.
A pilot program under New York City Mayor Eric Adams' City of Yes for Families initiative allows tenants in affordable housing to improve their credit scores by having on-time rent payments reported to credit bureaus. Economist Timothy Malefyt highlights the potential for immediate credit score improvements but notes that late payments could negatively affect scores.
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You can have the best technical leadership skills in the world, but if your teams don't like you, it could hinder your effectiveness, writes executive coach Joel Garfinkle, who recommends adopting a warm, friendly tone, looking for common interests with others, following through on promises and recognizing the contributions of your team members. "Giving credit where it's due shows generosity, boosts morale and makes you more likeable," Garfinkle notes.
