New York City sues president Trump over Elon Musks D.O.G.E

New York City is suing the Trump administration for seizing $80 million in federal funds intended for migrant housing costs. The city claims the funds, initially disbursed by FEMA, were taken back without warning after being legally allocated and spent. The lawsuit aims to recover the money and invalidate FEMA's actions. This occurs amidst the Trump administration's D.O.G.E. initiative, led by Elon Musk, which aims to cut federal spending by $2 trillion. Hedge fund manager Steve Cohen expressed concern about the potential negative economic impact of Trump's policies, including tariffs, immigration crackdowns, and the D.O.G.E. spending cuts. Cohen anticipates a slowdown in U.S. economic growth from 2.5% to 1.5% by the latter half of the year and predicts a potential stock market correction.