Jerome H. Powell, chair of the Federal Reserve, warned that President Trump’s tariffs risk stoking even higher inflation and slower growth than initially expected, as he struck a more downbeat tone about the outlook, despite the economy so far remaining in a “good place.” “While uncertainty remains elevated, it is now becoming clear that the … Read more
As financial markets recoiled for a second day and China said that it would hit the United States with its own punishing tariffs, President Trump on Friday sounded a defiant note about his approach, promising that “MY POLICIES WILL NEVER CHANGE.” Instead, Mr. Trump maintained in a series of posts on Truth Social that his … Read more
Grocery shoppers are likely to feel the impact of the Trump administration’s sweeping new tariffs before April is over. And the first place they’ll feel it is in parts of the store where the inventory has to move fast. In the produce aisle, food analysts said Thursday, expect small price increases on everyday purchases like … Read more
Paper checks issued for tax refunds, Social Security payments and other government benefits have been dwindling and will soon be eliminated, potentially affecting hundreds of thousands of Americans. President Trump signed an executive order on March 25 directing the federal government to stop issuing paper checks as of Sept. 30. Instead, government agencies must make … Read more
Oil prices continued to fall on Friday, extending Thursday’s sharp drop. Brent crude, the international benchmark, traded at its lowest level in more than three years, below $65 a barrel, a fall of almost 8 percent. Fears that President Trump’s tariffs could slash global economic growth — and demand for oil as a result — … Read more
Oil prices continued to fall on Friday, extending Thursday’s sharp drop. Brent crude, the international benchmark, traded at its lowest level in more than three years, below $65 a barrel, a fall of almost 8 percent. Fears that President Trump’s tariffs could slash global economic growth — and demand for oil as a result — … Read more
Watching the tariff fallout Investors are bracing for another nerve-racking ride after Thursday’s sell-off vaporized $2.5 trillion from the S&P 500 on fears of trade wars, a resurgence in inflation and a chill in global growth. S&P 500 futures are sinking Friday, after the benchmark index limped through its worst one-day decline since 2020, at … Read more
President Trump’s tariffs mean that companies across the European Union and around the world are at risk of losing access to the world’s largest consumer market. Naturally, they are looking for the next big thing. Statistically speaking, that would mean China. The E.U. has the second-largest consumer market in the world behind America; China is … Read more
The Chinese government will match President Trump’s plan for 34 percent tariffs on goods from China with its own 34 percent tariff on imports from the United States, China’s Finance Ministry said on Friday. Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them … Read more