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Economy
Unemployment spikes in Washington, D.C., as Trump and Musk begin efforts to shrink the
Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., Feb. 11, 2025. Kevin Lamarque | ReutersPresident Donald Trump's moves to fire thousands of federal government workers…
Consumer prices rise 0.5% in January, higher than expected as annual rate rises to 3%
Inflation perked up more than anticipated in January, providing further incentive for the Federal Reserve to hold the line on interest rates.The consumer price index, a broad measure of costs in goods and services across the U.S.…
Retail sales slumped 0.9% in January, down much more than expected
Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday.Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain…
Producer prices report points to softer Fed inflation measure than feared
A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing.The producer price index, which measures what producers get for their goods and…
Defense stocks drop after Trump says Pentagon spending could be halved
U.S. President Donald Trump sits in the Oval Office of the White House in Washington on Feb. 13, 2025.Kevin Lamarque | ReutersDefense stocks dropped sharply Thursday afternoon after President Donald Trump suggested the U.S. could…
Ray Dalio to the Trump administration: Cut debt now or face an ‘economic heart attack’
DUBAI, United Arab Emirates — Hedge fund titan Ray Dalio issued a fresh warning about the U.S. economy, warning of dire consequences if the Trump administration does not cut the country's debt."It's like if I was a doctor and I was…
Trump’s Mexico and Canada tariffs could add nearly $6,000 to the average cost of a car,
In an aerial view, Chevrolet cars and trucks are on display at Novato Chevrolet on Jan. 28, 2025 in Novato, California.Justin Sullivan | Getty ImagesAmericans shopping for cars may need to fork over thousands more if President Donald…
Hopes for more Fed rate cuts dim as Powell notes hot CPI means ‘we’re not quite there
Cartons of eggs are displayed at a grocery store with a warning that limits will be placed on purchases as bird flu continues to affect the egg industry on Feb. 10, 2025 in New York City. Spencer Platt | Getty ImagesA Federal Reserve…
Consumer price report Wednesday expected to show inflation isn’t going away
Cartons of eggs are displayed at a grocery store with a warning that limits will be placed on purchases as bird flu continues to affect the egg industry on Feb. 10, 2025 in New York City.Spencer Platt | Getty ImagesThe January consumer…
Trump’s steel tariffs could trigger broader trade war as EU threatens ‘proportionate
Ursula von der Leyen (CDU, r), President of the European Commission, stands in the plenary chamber of the European Parliament.Philipp von Ditfurth | Picture Alliance | Getty ImagesThe European Union plans to retaliate against the United…