This week: the new Trump Accounts for children officially launched over the July Fourth holiday, and we walk through what they are, how the money is taxed, and where they might fit alongside 529 plans and other savings vehicles. Then we look at the U.S. dollar, which has fully reversed a weak start to the year, and explain why currency movement can reach places you might not expect — including funds that hold international stocks. We close with a plain-language guide to earnings season, which begins this week, and why a company can beat expectations and still see its stock fall. Educational only; not personalized advice.
Trump Accounts Are Live, the Dollar’s Reversal, and How Earnings Season Works
Sources referenced in this episode:
- The Wall Street Journal — “‘Trump Accounts’ Are Now Live. Here’s What to Know.” (Ashlea Ebeling and Richard Rubin, updated July 6, 2026): https://www.wsj.com/personal-finance/trump-accounts-kids-explained-4b75b803
- Barron’s — “Trump Accounts Count on Big Returns. The Math Suggests Otherwise.” (Elijah Nicholson-Messmer, July 4, 2026): https://www.barrons.com/articles/trump-accounts-returns-inflation-f90c0c3a
- Barron’s — “Warsh’s First Fed Minutes Show Few Changes, Highlight Rate Divide” (Megan Leonhardt, July 8, 2026): https://www.barrons.com/articles/fed-minutes-today-kevin-warsh-8fa57478
- U.S. Treasury Department — Trump Accounts program page (program details, contribution mechanics, projection assumptions): https://trumpaccounts.gov
- Internal Revenue Service — Form 4547 (account opening form referenced in Story 1): https://www.irs.gov/forms-instructions
- Federal Reserve — FOMC minutes, June 16–17, 2026 meeting (rate decision at 3.50–3.75%, divided committee outlook, inflation risks tilted to the upside): https://www.federalreserve.gov/monetarypolicy/fomcminutes20260617.htm
- Federal Reserve — H.10 Nominal Broad U.S. Dollar Index (DTWEXBGS) (daily index reading near 121 as of July 2, 2026, notably above the late-January low): https://www.federalreserve.gov/releases/h10/summary/
- Federal Reserve — FOMC meeting calendar (July 28–29, 2026 next scheduled rate decision): https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
- CNBC — “U.S. job creation cools in June with payrolls growth of just 57,000; unemployment rate at 4.2%” (July 2, 2026; rate-expectation shift after softer June payrolls print): https://www.cnbc.com/2026/07/02/jobs-report-june-2026-.html
- U.S. Bureau of Labor Statistics — The Employment Situation, June 2026 (payrolls +57,000; April/May revised down by 74,000 combined; unemployment rate 4.2%; labor force participation decline; released July 2, 2026): https://www.bls.gov/news.release/empsit.nr0.htm
- FactSet Earnings Insight — “Analysts Made Largest Increases to Quarterly EPS Estimates for S&P 500 Companies Since 2021” (John Butters, July 2026; Q2 2026 bottom-up EPS estimate rose 3.4% versus a five-year historical average of −2.0% during a quarter): https://insight.factset.com/analysts-made-largest-increases-to-quarterly-eps-estimates-for-sp-500-companies-since-2021
- FactSet Earnings Insight — Weekly report, June 26, 2026 edition (underlying data set supporting the Q2 2026 preview): https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_062626.pdf
New episodes weekly. The Wealth Recap is produced by Buckley Wealth and is for educational and informational purposes only. Nothing in this podcast is personalized financial advice or a recommendation to buy or sell any security. Buckley Wealth is an SEC-registered investment adviser; registration does not imply a certain level of skill or training.