Nation’s economy shrank 0.3% in first quarter as trade wars disrupted business
First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before President Trump imposed massive tariffs.
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Job openings fell to 7.2 million in March, lowest level since September
Meanwhile, the number of Americans quitting their jobs—a sign of confidence in the economy—rose modestly. And layoffs fell to the lowest level since June.
Consumer confidence index sinks to lowest level in 5 years
The figures reflect a rapidly souring mood among consumers, most of whom expect prices to rise because of the widespread tariffs imposed by President Donald Trump.
Trump blasts Fed chair Powell and looks forward to his ‘termination’
The message, posted early Thursday, came one day after Fed Chair Jerome Powell warned that the administration’s trade war was “highly likely” to spur a temporary rise in inflation.
Powell says Fed can wait on any interest rate moves
Federal Reserve Chair Jerome Powell quoted Ferris Bueller during a speech about policy changes to the Economic Club of Chicago on Wednesday.
Potential impact of trade war on jobs, inflation sends consumer sentiment plunging
The share of respondents expecting unemployment to rise in the coming months increased for the fifth straight month and is now the highest since 2009 during the Great Recession.
Inflation fell last month as gas prices dropped sharply
U.S. inflation declined last month as the cost of gas, airline fares, and hotel rooms fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats.
Trump says ‘be cool’ after tariffs, adds ‘great time to buy’
President Donald Trump comments are a sign the White House is closely monitoring market reaction to the administration’s sweeping reciprocal tariffs, which went into effect at 12:01 a.m. Wednesday.
Wall Street heavyweights take a drubbing, from airlines to Big Tech
Few sectors were spared in trading Friday, a day after U.S. companies lost $2 trillion in value.
U.S. added 228,000 jobs in March, nearly doubling expections
The unemployment rate rose modestly but for what economists consider a good reason: 232,000 people entered the labor force.
Consumers remained cautious about spending last month as inflation ticked higher
The spending increase was driven by greater purchases of long-lasting goods, such as cars and appliances, which could reflect an effort by shoppers to buy things before tariffs are imposed.
U.S. economy grew 2.4% in the 4th quarter after upgrade in final growth estimate
A drop in business inventories shaved 0.84 percentage points off fourth-quarter GDP growth.
Consumer confidence tumbles to 12-year low
The Conference Board’s report Tuesday said that the measure of Americans’ short-term expectations for income, business and the job market fell 9.6 points, to 65.2.
FedEx shares fall after profit outlook is cut again on economic woes
An economic bellwether because of its broad exposure to the global economy, FedEx said its latest outlook assumes the global economic, political and trade environment doesn’t worsen any further.
Americans increased retail spending tepidly last month
U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month
Trump doubles planned tariffs on Canadian steel, aluminum to 50%
The U.S. stock market promptly fell following his social media post, triggering more concerns after a brutal selloff on Monday.
Job openings rose to 7.7M in January
The Labor Department’s Job Openings and Labor Turnover Survey showed that openings rose in real estate, health care, manufacturing and construction.
Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy
It was the worst day yet in a scary stretch where the S&P 500 has swung more than 1%, up or down, seven times in eight days.
Stock sell-off worsens as Wall Street wonders how much pain Trump will accept for economy
The worry is that the whipsaw moves will either hurt the economy directly or create enough uncertainty to drive U.S. companies and consumers into an economy-freezing paralysis.
Trump downplays business concerns about uncertainty from his tariffs and prospect of higher prices
On Wall Street, it was a tough week with wild swings dominated by worries about the economy and uncertainty about Trump’s tariffs.