The Market Just Crossed a Dangerous Line

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

What Melania Trump wore to the inauguration -- including the hat

BEATRICE DUPUY
January 20, 2025

While red baseball caps have become synonymous with President Donald Trump, first lady Melania Trump made her own millinery-related fashion statement, sporting a navy wide-brimmed hat by an American designer on Inauguration Day.

The hat designed by Eric Javits shielded the first lady's eyes as her husband was sworn in Monday for the second time. Javits said dressing the first lady has been one of the greatest honors of his career.

"My art background gave me an edge in bringing harmony and balance to the face by creating hat shapes that would flatter and enhance every kind of face," he said in a statement. "In this specific case that was not difficult to do, in that Mrs. Trump is blessed with great bone structure, beauty and a wonderful sense of style."

The hat made its mark throughout the inauguration ceremony: As Trump went to kiss his wife after entering the Capitol Rotunda, the hat left only room for an air kiss. Even now-former President Joe Biden had to navigate around the hat while trying to talk to her husband on the other side.

Trump, speaking in Emancipation Hall after the swearing-in ceremony, joked about his wife's hat nearly blowing away. The first lady had held onto her hat as a military helicopter taking off with Biden generated wind.

"She almost blew away," Trump said with a laugh. "She was being elevated off the ground."

In a departure from 2017's sky blue cashmere dress and gloves by Ralph Lauren, this time, Melania Trump paired a muted navy silk wool coat with a navy skirt and an ivory silk crepe blouse underneath, all by independent American designer Adam Lippes.

"The tradition of the presidential inauguration embodies the beauty of American democracy and today we had the honor to dress our first lady, Mrs. Melania Trump," Lippes said in a statement. "Mrs. Trump's outfit was created by some of America's finest craftsmen and I take great pride in showing such work to the world."

Her first inauguration ensemble drew comparisons to Jacqueline Kennedy's style. Kennedy also famously wore a pillbox hat for her husband's inauguration in 1961. But dressing the first lady became a point of political contention in 2017, with some designers saying they would not dress the incoming first lady -- typically a coveted opportunity. Some social media users pushed to boycott Ralph Lauren at the time.

Fast forward to 2025, and Ralph Lauren was the designer of choice for departing first lady Jill Biden, who chose the designer for her parting look. She opted for a monochromatic purple, from her coat to her shoes and gloves, to mark the transition of power.

Ralph Lauren did not return a request for comment.

___

Associated Press writer Jill Colvin contributed to this report.

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