The European Union said Thursday it is delaying a planned rollout of 50% tariffs on American whiskey, which it was levying in response to President Donald Trump’s tariffs on steel and aluminum imports.Luke Sharrett/Bloomberg/Getty Images CNN — The European Union is delaying the retaliatory tariffs it announced after the United States imposed a 25% tariff…
Federal Reserve Chair Jerome Powell at the Federal Reserve in Washington, DC, on January 29.Graeme Sloan/Sipa USA/AP WashingtonCNN — Late last year, it seemed like the Federal Reserve had pulled off the unlikely — tamping down the highest inflation in four decades without triggering a recession, an outcome known as a “soft landing.” Now, two…
Treasury Secretary Scott Bessent isn’t ruling out a recession, saying he “can’t guarantee” the American economy won’t experience one.Andrew Harnik/Getty Images New YorkCNN — Is a recession brewing in the US? The answer to that question will vary depending on whom you ask in the Trump administration — and when. Wall Street plunged last week…
President Donald Trump addresses a joint session of Congress on March 4 in Washington, DC. Trump’s sweeping policy moves have caused volatility in markers and economic indicators, fueling recession fears.Win McNamee/Getty Images CNN — Markets are on the fritz and investor sentiment has slumped into “extreme fear” territory. Consumer confidence readings have cratered and surveys…
Retail sales account for about a third of overall spending in the US.Yuki Iwamura/Bloomberg/Getty Images WashingtonCNN — Spending at US retailers last month was much weaker than expected, in a troubling sign that the American shopper could be starting to tap out. Retail sales rose 0.2% in February from the prior month, the Commerce Department…
A worker works at steel company in Monterrey, Nuevo Leon, Mexico.Julio Cesar Aguilar/AFP/Getty Images CNN — President Donald Trump’s tariff policies are slowing economic growth in the United States and around the world while sending prices higher again, creating a toxic stew for the global economy that could grow even worse if tensions escalate, the…
Customers shop for gloves at the Wankelai store in Beijing in February 2025.Tingshu Wang/Reuters Hong KongCNN — China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump. The initiative, announced Sunday by the official Xinhua news agency,…
The exterior of the Consumer Financial Protection Bureau (CFPB) Headquarters is seen on February 10, 2025 in Washington, DC. According to media reports employees of the CFPB were notified that the headquarters would be closed and that employees were to work from home.Anna Moneymaker/Getty Images CNN — The Consumer Financial Protection Bureau, the banking watchdog…
A customer reaches for a lightbulb in an ACE hardware store in San Francisco on March 11.David Paul Morris/Bloomberg/Getty Images WashingtonCNN — The Trump bump in consumer sentiment is now a Trump slump. Americans continue to grow worried over President Donald Trump’s escalating and haphazard trade war, according to the University of Michigan’s latest consumer…
Chevrolet Silverado 1500s and GMC Sierra 1500s on the assembly line at the General Motors assembly plant in Fort Wayne, Indiana, on Tuesday, April 9, 2024.Emily Elconin/Bloomberg/Getty Images CNN — The Producer Price Index, a wholesale inflation gauge that is being closely watched for tariff-related impacts, showed that price hikes slowed substantially in February. The…
