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Highlights

  1. Despite Trump’s Claims, Grocery Prices Are Rising

    Weather, supply, tariffs, labor and changing consumer habits continue to drive up the cost of groceries. President Trump falsely claims prices are falling.

     By Kevin Draper and

    The cost of groceries surged last month, according to data released on Tuesday. But President Trump continues to falsely claim that they’ve fallen.
    The cost of groceries surged last month, according to data released on Tuesday. But President Trump continues to falsely claim that they’ve fallen.
    CreditRuth Fremson/The New York Times
    1. Cracks Begin to Appear at the Nation’s Biggest Banks

      This week, Bank of America, Citi, JPMorgan and Wells Fargo released fraught earnings reports as President Trump’s threatened cap on credit card rates loomed large.

       By

      Big bank stocks are up strongly over the past 12 months, even after the recent stumble.
      Big bank stocks are up strongly over the past 12 months, even after the recent stumble.
      CreditAngela Weiss/Agence France-Presse — Getty Images
  1. Why Banks Are So Worried About a 10% Credit Card Rate Cap

    President Trump revived a campaign promise to cap interest rates, but it is unclear how he would make that a reality.

     By Stacy Cowley and

    President Trump posted on social media Friday night calling for a one-year 10 percent cap on credit card interest rates.
    CreditEric Lee for The New York Times
  2. China Announces Record Trade Surplus as Its Exports Flood World Markets

    China’s surplus reached $1.19 trillion last year, a 20 percent increase from 2024, as Beijing kept the currency weak and pursued self-reliance to replace imports.

     By

    The production line at a car factory in Hangzhou, China, in October. Exports to the United States fell, but rose to much of the rest of the world.
    CreditChang W. Lee/The New York Times
  3. Gourmet Magazine Is Back. It’s Not Exactly Sanctioned.

    The defunct food publication is re-emerging as a newsletter, with new leadership and zero approval from its original owner.

     By

    On Tuesday, Gourmet will be rebooted as an online newsletter on the platform Ghost.
    CreditMario Tama/Getty Images
  4. What to Know About Bilt’s New Rewards Program for Mortgage and Rent Payments

    Bilt, a rewards and payments start-up, has three new credit cards that can help users earn points when they pay their mortgage. You will need to do math.

     By Tara Siegel Bernard and

    CreditClay Hickson
  5. As Trump Pushes Housing Affordability, His Mortgage Chief Undermines It

    Under Bill Pulte, Fannie Mae and Freddie Mac have pulled away from efforts to help low-income people buy homes.

     By

    The Federal Housing Finance Agency has been repealing rules, firing teams of people focused on fair lending and climate risk, and reducing the agency’s focus on low-income home buyers.
    CreditCallaghan O'Hare for The New York Times

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  7. DealBook Newsletter

    A Crypto Revolt Against a Crypto Bill

    Legislation to establish a regulatory framework for digital tokens has been thrown into turmoil — by one of its biggest champions.

    By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly, Brian O’Keefe and Vivienne Walt

     
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