Stretching Your Dollar: How A Government Shutdown Could Impact Your Finances
A looming government shutdown could have an impact on the finances of everyday workers. Federal worker, in particular, could face furloughs and stoppage of pay, while the everyday American is likely to be less impacted. Andy Smith, executive director of financial planning at Edelman Financial Engines, joined 'Stretching Your Dollar' to tell viewers what they should expect in the coming weeks if the government is unable to avert the shutdown.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
