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Economy
Tariffs to add as much as $10,000 to the cost of the average new home, trade association
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois.Scott Olson | Getty ImagesPresident Donald Trump's tariffs could increase material costs for the average new home by as much as $10,000, according to the…
Trump’s Canadian tariffs are having a chilling effect on Vermont’s small business owners
Ryan Christiansen, president and head distiller at Caledonia Spirits, giving a tour in Montpelier, VT.Courtesy: Ryan Christianse | Caledonia SpiritsPresident Donald Trump's tariff rhetoric against Canada has only started to heat up, but…
Treasury Secretary Bessent said the White House is focused on the ‘real economy’ and not
Treasury Secretary Scott Bessent said Thursday the Trump administration is more focused on the long-term health of the economy and markets and not short-term gyrations."We're focused on the real economy. Can we create an environment…
Consumer sentiment slumps in March to lowest since 2022 as Trump tariffs spark more
Consumer sentiment took another hit in March as worries intensified over inflation and a slumping stock market, according to the University of Michigan's latest sentiment survey released Friday.The survey posted a mid-month reading of…
UK economy unexpectedly shrank by 0.1% in January
The U.K.'s economy unexpectedly shrank by 0.1% month-on-month in January, official figures showed on Friday.Britain's Office for National Statistics said the fall was mainly due to a contraction in the production sector.Economists polled…
Why this week’s positive inflation reports won’t look as good to the Fed
Watermelons from Mexico are displayed on a shelf at a Target store on March 5, 2025 in Novato, California.Justin Sullivan | Getty ImagesOn the surface, February's inflation data released this week brought some encouraging news. But…
Treasury Secretary Bessent says a ‘detox’ period for the economy does not have to be a
Treasury Secretary Scott Bessent said Thursday that his previous comments about a "detox period" for the U.S. economy did not mean that a recession was necessary."Not at all. Doesn't have to be, because it will depend on how quickly the…
Job openings see gains in January in a sign of labor market stability
Attendees and recruiters at a City Career Fair hiring event in Sacramento, California, US, on Thursday, Feb. 27, 2025. David Paul Morris | Bloomberg | Getty ImagesJob openings increased in January, providing at least a momentary sign of…
U.S. budget deficit surged in February, passing $1 trillion for year-to-date record
The U.S. Treasury Building is seen from the Washington Monument on a cold, winter day on Jan. 21, 2025 in Washington, DC.Kevin Carter | Getty ImagesThe U.S. debt and deficit problem worsened during President Donald Trump's first month in…
Inflation rate eased to 2.8% in February, lower than expected
Prices for goods and services moved up less than expected in February, providing some relief as consumers and businesses worry about the looming impact tariffs might have on inflation, the Bureau of Labor Statistics reported…