Market
New funding freeze order issued by Trump administration by June 30, 2025?
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Official government announcements and memos
Story
Trump Administration Reverses Federal Funding Freeze One Day After Issuing Order
Jan 29, 2025, 06:19 PM
President Donald Trump's administration has rescinded an order freezing federal grants, loans, and financial assistance just one day after it was issued. The Office of Management and Budget (OMB), led by acting director Matthew J. Vaeth, released a new memo on Wednesday reversing the directive that had halted government spending of potentially trillions of dollars. The reversal follows a federal judge's intervention, temporarily blocking the order pending legal challenges. The initial freeze had provoked widespread confusion and backlash across the country, paralyzing many federal programs and causing an uproar on Capitol Hill.
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