Good morning! This is Daniel de Visé bringing you your Daily Money update.

I apologize: President Trump’s inaugural week has been so packed that we’ve been trying to keep up.

On his very first day in office, Trump issued a memorandum directing federal agencies to explore solutions for what many Americans consider their greatest financial challenge: inflation.

This memo signals Trump’s determination to quickly tackle the significant rise in consumer prices that emerged after the pandemic. The issue of inflation played a major role in why many Americans disapproved of former President Joe Biden and chose Trump over former Vice President Kamala Harris.

Will Trump be able to address inflation?

Are three billionaires creating a ‘broligarchy’?

On Monday, the three wealthiest individuals in the U.S.—Elon Musk, Jeff Bezos, and Mark Zuckerberg—gathered in a VIP section during President Trump’s second inauguration.

This marked a noteworthy occasion: a literal assembly of wealth among a select group of billionaires whose combined net worth exceeds $1 trillion. Images of this “Billionaires’ Row” spread worldwide, captivating audiences similar to the photos of multiple former and current presidents at Jimmy Carter’s memorial service earlier this month.

While the sight of five former presidents together was deemed moving by many, the presence of three tech billionaires at the Trump inauguration evoked a different set of reactions from onlookers.

Are diversity efforts now considered illegal?

Just a few days into his presidency, Trump has made his stance clear to corporate America: Align with the federal government’s direction to “eliminate illegal DEI discrimination” or risk civil rights probes.

His executive order seeks to eliminate DEI initiatives within federal agencies and curtail affirmative action in federal contracting. It prevents the government from encouraging contractors to diversify their employee base and requires federal institutions to apply Civil Rights-era regulations to address “unlawful private-sector DEI preferences, mandates, policies, programs, and activities.”

This move is expected to instantly dampen corporate DEI initiatives.

About The Daily Money

Each weekday, The Daily Money brings you the latest in consumer and financial news from YSL News, simplifying complex stories, offering concise summaries, and explaining how developments—from federal interest rate adjustments to bankruptcies—affect you.

Daniel de Visé specializes in personal finance reporting.