Last week, we gave you a sneak peek of President Donald Trump’s “Liberation Day” tariff announcement. Here’s how that’s going…
What Trump did: Exactly what he said he would. He hiked tariffs on all goods coming into the US by at least 10%, and by as much as 50% for some countries.
How the markets are reacting: Not well. These tariffs reverse nearly a century of US –– and, therefore, global –– trade policy, which prioritized opening international markets to help U.S. businesses expand and keep consumer prices low. Since the announcement, the S&P 500 has plunged over $5.4 trillion in value, while global stocks have lost $9.5 trillion. Forecasters everywhere are upping the odds of a recession, and Fed chair Jerome Powell said the effects of the tariffs could include “higher inflation and slower growth.”
How Trump is reacting to the reactions: He’s digging in, saying that he’s not negotiating down the tariffs with other countries “unless they pay us a lot of money on a yearly basis.”
How you should react: Step away from your portfolio dashboard. Don’t make any impulse moves. This financial advisor’s decision pyramid is a helpful framework for organizing your thoughts and next steps.
Are You Seated?
There’s a pattern to how women show up in economic reporting: “lipstick index,” “hemline index,” “recession brunette,” “recession core.” So many overly simplified concepts to minimize the scale of our financial power. Except, women are not a sideshow in the economy.
From where we shop to how we invest, women’s decisions ripple through every sector. Women now control 32% of the world’s wealth (that would be $72 trillion). Their personal wealth is expected to increase by 7% annually, outpacing overall global wealth growth.
You may have noticed that we’re living through a wildly uncertain economy (Goldman just hiked the probability of a US recession to 45%), which makes big financial decisions harder — from recalibrating your 401(k) to deciding whether or not to buy a new car.
Recent studies suggest that women in partnerships don’t participate equally in financial planning — also known as “financial abdication.” They disproportionately handle day-to-day purchases like groceries, but hand off the bigger, long-term decisions to their partners — making them vulnerable to bad surprises down the road.
Whether you’re partnered or not, consider this your gentle nudge to make sure you’re taking full ownership of your financial life.
That means: Make your own plans. Ask uncomfortable questions. ( Still dating? It’s OK to bring up a prenup —here’s how to do it without making it weird.) Talk about the investment strategy — and be a part of that strategy.
Because in this environment, it's more important than ever to control your own money.
— “Picking Lipstick Shades and ETFs,” Anna Davies, staff writer
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You’re ready for The Big Job — whether that’s manager, director, or exec. And yes, the time is now. Going for it now can boost your long-term earnings, close the leadership gender gap, and challenge outdated expectations about women at work.
Need some inspo? Meet Skimm Money reader Ashlee:
“I sent a bold email asking for what I wanted… no introduction from anyone, just cold call, just me… I was fully myself in the whole thing and open and forthright about what I wanted… I call them my ‘Audacious Ashlee Emails’… it worked! They said yes!”
Ashlee is using her words. We should too. One study found women are 16% less likely to position themselves as leaders — even when they hold the same role at the same organization as a man.
Swap softer language like “helped” or “supported” for assertive verbs like “drove,” “spearheaded,” or “led revenue enhancement initiative” on your LinkedIn, resume, or in an “audacious email” to showcase your impact.
All month, we’re giving you the tools to go for the big job in our Daily Skimm newsletter and here.
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