Tag Archives: economy

CNBC reports: The U.S. economy contracted in the first three months of 2025, fueling recession fears at the start of President Donald Trump’s second term in office as he wages a potentially costly trade war. Gross domestic product, a sum of all the goods and services produced from January through March, fell at a 0.3% annualized pace, according to a …

The Washington Post reports: The global economy will slow sharply this year, weighed down by President Donald Trump’s imposition of the highest import taxes in more than a century and the cloud of uncertainty that has billowed in their wake, the International Monetary Fund said Tuesday. Trump’s double-barreled tariff plan — a 10 percent tax on nearly everything the United …

Playbook reports: The International Monetary Fund will officially downgrade global growth forecasts this morning in response to the swirling trade war and severe market turbulence triggered by Donald Trump’s on-off tariffs. The IMF’s weeklong spring conference in Washington will dominate headlines at 9 a.m. with the unveiling of its first World Economic Outlook since Trump returned to power. It won’t …

CNN reports: Americans are rarely this pessimistic about the economy. Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey released Friday. April’s reading was lower than anything seen during the Great Recession. President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods …

“China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless ‘whipping post,’ but not any longer. We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC …

The Hill reports: The U.S. economy added 228,000 jobs in March and the unemployment rate stayed roughly even at 4.2 percent, according to data released Friday by the Labor Department. The monthly federal jobs report showed the labor market holding strong in March after another month of rising concern about the impact of President Trump’s economic agenda. March employment data …

Yahoo Finance reports: US stocks fell on Thursday, with the S&P 500 officially entering into correction territory, as economic concerns grew and investors digested the latest inflation data, President Trump’s trade offensive, and a looming US government shutdown. The S&P 500 dropped 1.4% to officially enter a correction, as it is now more than 10% off its February record high. …

HOWARD LUTNICK: “When you’re negotiating with someone and they’re not paying attention, and they are disagreeing, the president – who’s the best dealmaker ever to sit in that chair – is going to say, ‘Here’s my response.’ And then all of a sudden, shockingly, they respond.” CBS NEWS: “Will these policies be worth it if they lead to a recession, …

The Hill reports: Treasury Secretary Scott Bessent said Friday the United States economy has become increasingly reliant on excessive government spending. “The market and the economy have become hooked, become addicted, to excessive government spending, and there’s going to be a detox period,” Bessent said on CNBC’s “Squawk Box.” Bessent added there will be a “natural adjustment” as the Trump …

CNBC reports: President Donald Trump’s efforts to pare down the federal government workforce left a mark on the labor market in February, with announced job cuts at their highest level in nearly five years, outplacement firm Challenger, Gray & Christmas reported Thursday. The firm reported that U.S. employers announced 172,017 layoffs for the month, up 245% from January and the …

The Hill reports: The Atlanta Federal Reserve is projecting a contraction of the nation’s gross domestic product (GDP) of 1.5 percent in the first quarter. The Atlanta Fed last week was predicting 2.3 percent positive growth for the first quarter. A month ago, it was registering 3.9 percent growth. The Atlanta Fed’s GDPNow measure is not an official forecast but rather …

NBC News reports: Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open. In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction. Joann listed some 19,000 employees, most of them part-time, when …

ABC News reports: Joann, the fabrics and crafts retailer, is shutting down hundreds of its stores nationwide as part of its bankruptcy proceedings. The company filed a motion in court on Wednesday seeking approval to begin closing approximately 500 locations. In a statement to ABC News, the company’s spokesperson said the move is “part of the ongoing Chapter 11 process …

CBS News reports: Inflation accelerated in January, rising 3% on an annual basis, indicating that the Federal Reserve’s push to drive inflation down to a 2% annual rate has stalled out, at least temporarily. The Consumer Price Index was forecast to rise 2.9% last month, according to economists polled by financial-data firm FactSet. The CPI, a basket of goods and …

The New York Times reports: In recent weeks, the bird flu outbreak has wiped out flocks of egg-laying hens, causing wholesale prices to surge just as many Americans are planning holiday recipes that call for more eggs, like cookies, eggnog and latkes. As of Thursday, the average wholesale price for a dozen eggs in the United States was up more …

The Wall Street Journal reports: The labor market remains in decent health. The latest nonfarm payrolls data shows 227,000 positions were created in November, topping expectations for 214,000 new jobs. Unemployment edged up to 4.2%, matching consensus forecasts. October’s figure, which was affected by hurricanes and strikes, was increased to 36,000 from an initial tally of 12,000, the Bureau of …

ABC News reports: The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic product — the economy’s output of goods and services — slowed from the April-July rate of 3%, the Commerce …

The Washington Post reports: During the Trump administration, Republicans were much more likely to say their economic positions had improved — and under Biden, far more likely to say it had worsened. Since 2022, more than half of Republicans have said their economic situations have declined over the past year. But suddenly, over the last month, that’s shifted. Among Democrats, …

The New York Times reports: Spain said it could give residency and work permits to about 900,000 undocumented migrants in the country over the next three years to help address a growing need for workers, even as other European countries embrace tougher stances on immigration. The new rules will start in May, with government officials expecting that about 300,000 migrants …

“We know that will be tough for the economy. There is no doubt about it. People have to get, as my father would have said, real work, real jobs. People are going to have to get jobs and they’re going to be scrambling. “You know, one would think that the economy will start churning out new jobs. That’s going to …