The Federal Reserve is responsible for promoting full employment and keeping inflation in check, but President Donald Trump’s tariffs threaten both of those goals.Kevin Dietsch/Getty Images WashingtonCNN — President Donald Trump’s turbulent trade war could put the Federal Reserve in a difficult situation it hasn’t seen in about half a century, Chair Jerome Powell said…
Shipping containers are seen stacked in the container yard at the Port of Baltimore in Maryland on April 12.Samuel Corum/Sipa USA/AP CNN — President Donald Trump is forging ahead with his aggressive tariff campaign, moving on from “reciprocal” tariffs to the sector-specific tariffs he promised. To do so will involve Trump’s continued application of Section…
US consumers are feeling increasingly pessimistic about the health of the labor market.Al Drago/Bloomberg/Getty Images CNN — Not since the early weeks of the pandemic have Americans been this certain that the unemployment rate will continue to rise. Consumers surveyed by the Federal Reserve Bank of New York in March put a 44% probability on…
Jill Langen successfully sold her home in Clarkston, Michigan, without the help of a real estate agent. (CNN has blurred a portion of this photo to protect individuals’ privacy.)Courtesy Jill Langen CNN — When Jill Langen decided to list her Clarkston, Michigan, home of 25 years for sale last month, she did it without the…
Workers at a toy manufacturing plant in Lianyungang, China, prepare plush toys set to be exported to other countries.Costfoto/NurPhoto/Getty Images CNN — Toys made in China have been exempt from tariffs since President Donald Trump’s first term. That is no longer the case. Last month, Trump raised tariff rates on China to 20%, dealing a…
President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods these past few months.David Paul Morris/Bloomberg/Getty Images WashingtonCNN — 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…
Economists were expecting US wholesale inflation to heat up in March, with the Producer Price Index accelerating to a 3.3% annual rate from 3.2% in February.Luke Sharrett/Bloomberg/Getty Images CNN — Inflationary pressures eased at the wholesale level last month, another indication of a strong economy before the bulk of President Donald Trump’s aggressive trade policies…
Economists expected that inflation would slow to 2.6% annually, as measured by the Consumer Price Index.Angela Weiss/AFP/Getty Images CNN — Inflation slowed sharply in March, new data showed Thursday, and in any other timeline, such news would stoke optimism that Americans’ cost of living is no longer surging. However, the latest reading of the Consumer…
A drone view shows containers on the day President Donald Trump announced new tariffs at the Port of Baltimore, Maryland, on April 2, 2025.Evelyn Hockstein/Reuters CNN — “Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending. And…
A worker drives a front loader at a lumber mill in Elmsdale, Nova Scotia, Canada, on March 25, 2025.Blair Gable/Reuters CNN — The decades-long softwood lumber dispute between the US and Canada is escalating even before planned tariffs take effect: The US plans to more than double existing anti-dumping and countervailing duties on the critical…
