The U.S. dollar's decline continues despite a growing economy and a rising stock market, while former President Donald Trump held a campaign-style rally at Fort Bragg, and Americans grapple with economic anxieties despite spending less on food than ever before, according to multiple reports. The greenback has been trending downward since 2022, losing 9.4% against a basket of foreign currencies in the last 12 months, according to Fortune. Simultaneously, Trump addressed troops at the active Army base in North Carolina, urging them to vote Republican, as reported by Time.
The dollar's weakness is particularly striking given the U.S. economy's strong performance, with an annualized growth rate of 4.4% last year and a stock market up nearly 12% over the last 12 months, according to Fortune. The dollar has lost 8% of its value against the British pound in the last 12 months, despite the U.K.'s anemic economic growth of 1.3% during the same period, the outlet reported.
At Fort Bragg, Trump shared the stage with Michael Whatley, a former Republican National Committee chairman and Senate candidate, while touting his military spending plans and celebrating his restoration of the Fort Bragg name, according to Time. Trump told the troops, "You have to vote for us," highlighting his actions.
Meanwhile, Americans are experiencing a disconnect between economic indicators and their personal experiences. While Americans spend less of their income on food than almost ever before, according to Vox, many still feel economic pressure. This phenomenon reflects a broader sense of unease in the economy, with the hiring picture and stock market also described as "weird," according to Vox.
In other news, Stephen Schwarzman, co-founder of Blackstone, is reportedly focused on building a top-10 philanthropic foundation, with plans to expand his foundation, which had $65 million in total assets as of 2024, according to a Wall Street Journal report cited by Fortune. The foundation will focus on AI and education.
Adding to the complexities of the current economic climate, many Americans feel stuck in their jobs, according to Fortune. Millionaire podcast personality Mel Robbins believes that the feeling of being trapped is often an illusion. "If you feel stuck in your life, it doesn't mean you're broken," Robbins said in an interview with CBS News Sunday Morning, according to Fortune. "It means that what's missing in your life is growth."
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