In partnership with

State Department Overhaul

Secretary of State Marco Rubio announced a reorganization of the State Department yesterday, calling for a 15% reduction in force across the US (roughly 2,000 positions) and consolidation of more than 100 offices worldwide. An internal working group is tasked with executing the plan by July 1. 

The 132 offices slated to be cut represent roughly 18% of the State Department’s offices. They include offices related to women’s issues, criminal justice, and promoting democracy. Two offices will be added: one focusing on cybersecurity and artificial intelligence, and another to coordinate aid programs that remain following the dismantling of the US Agency for International Development. Regional bureaus will not be affected, including the Bureau of African Affairs, despite an earlier report.

The overhaul is part of the Trump administration's aim to downsize the federal government and reduce the national debt. The State Department is the oldest executive agency (see overview), with a $63.5B budget for FY2025. Explore more on the nation’s $36.2T debt here.

Mahmoud v. Taylor

The Supreme Court heard arguments yesterday in a case that will determine whether parents of public schoolchildren have a constitutional right to opt their kids out of lessons featuring LGBTQ characters and themes.

The challenge comes from a group of Muslim, Catholic, and Ukrainian Orthodox parents who say Maryland’s Montgomery County Public Schools violated their First Amendment rights by refusing to allow exemptions from lessons they believe conflict with their religious views. The district—the most religiously diverse in the US—introduced the books in 2022 to reflect its diverse student body, initially allowing opt-outs but later ending the policy, citing disruptions to classroom instruction.

Lower courts ruled in favor of the district, finding exposure to the books does not coerce children to abandon their religious beliefs and that parents remain free to teach their values at home. The Supreme Court’s decision is expected later this year. 

Separately, a federal appeals court is weighing the Pentagon’s ban on transgender individuals from serving openly in the military.

Global Growth Slowdown

The International Monetary Fund yesterday lowered its 2025 growth outlook for the US and the global economy, citing heightened uncertainty and economic disruption caused by President Donald Trump’s sweeping new tariffs. 

The IMF (see overview) trimmed the 2025 US growth estimate to 1.8% from 2.7%, the largest reduction among the world's advanced economies, and cut the global growth forecast to 2.8% from 3.3%. The fund cautioned the trade policy climate and ongoing conflicts between the US and other tariff-hit countries are discouraging investment and spending. US inflation is now predicted to reach 3% this year, one percentage point higher than the IMF’s January projection, while the risk of a US recession has increased to 40%, up from 25% in October. 

Separately, the White House signaled trade tensions with China could cool, while businesses continued to announce investments in the US, including yogurt maker Chobani, which plans to invest at least $1.2B in New York, and Swiss pharma giant Roche, which aims to invest $50B over the next five years. 

In partnership with Boxabl

Father-Son Duo Reinvents Home Construction

In partnership with Boxabl

Top U.S. Homebuilder Backs Industry Disruptor

You must be doing something right if the top names in your industry take notice. That’s the story with BOXABL, which brings factory efficiency to home construction.

A new home can roll off BOXABL’s assembly lines in ~4 hours. Even better? These homes are foldable, compact enough to be shipped via pickup truck. With 600+ homes built and one of the top homebuilders in America joining as an investor, BOXABL’s already transforming home construction. Join them for just $0.80/share.*

Please support our sponsors!