The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Thu Jan 16 2025

Daniel de Visé | Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

A recent flare-up over visas for tech workers revealed a rift among Republicans on immigration.

Steve Bannon, once Donald Trump's chief strategist, termed the H-1B visa program a "total and complete scam." Many Trump supporters sided with Bannon. So did Bernie Sanders, the progressive Vermont senator.

At issue is a visa program designed to help American companies import skilled workers from other countries. And here's the question: Does the H-1B visa take away American jobs?

Inflation edged up in December

Inflation accelerated for a third straight month in December on rising food and energy costs, Paul Davidson reports, reaching a five-month high and underscoring that an encouraging slowdown in price increases last spring and summer has stalled.

But an underlying measure of price gains eased, in a sign that inflation could resume its descent through the first half of 2025.

Biden approves final wave of loan relief

The Biden administration approved its last major batch of student loan relief Wednesday, greenlighting $4.5 billion in forgiveness for 261,000 borrowers, Zachary Schermele reports.

In an interesting twist, the beneficiaries of this round of largesse attended a specific university.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.