Donald Trump has announced plans to create a new agency called the "External Revenue Service" to manage tariffs and duties from foreign sources. He shared this idea on his social media platform, stating that it would start operating on his inauguration day, January 20, 2025. This agency seems to be
Treasury Secretary Janet Yellen recently shared her views on the ongoing inflation issue, suggesting that the stimulus packages implemented during the COVID-19 pandemic might have played a small role. However, she emphasized that the primary cause of rising prices was the pandemic itself, which led
Ever thought about what would happen if your favorite avocado toast became a luxury item? It's not just a far-fetched idea anymore. President Trump's trade and immigration policies could make that a reality. Back in 2018, when the U. S. slapped tariffs on several countries, they hit back. This raise
President-elect Donald Trump has made his stance on the potential purchase of U. S. Steel by Japanese steelmaker Nippon Steel very clear. In a post on his social media platform, Trump expressed his strong opposition, stating that he would use tax incentives and tariffs to strengthen the American ste
Imagine a world where President Donald Trump slaps massive tariffs on all Chinese goods. Some experts think it could spark an economic war. Two states that helped Trump win the 2024 election, Nevada and Florida, might feel the most pain. A study by the U. S. -China Business Council and Oxford Econom
You might think high interest rates would slow down the economy. But surprisingly, the U. S. economy grew at a steady 2. 8% pace from July through September. Consumers were the big spenders, driving growth even with higher interest rates. While business investments cooled off a bit, exports picked u
As the U. S. presidential election neared, consumers felt more upbeat about the economy. The Conference Board's consumer confidence index leaped over 11% in October to 138, the largest monthly jump since March 2021. People were particularly hopeful about future conditions, with the expectations inde
The US economy looks pretty strong, but that's bad news for people hoping to borrow money at lower interest rates. Despite expectations for cheaper borrowing costs, the job market and economy are doing surprisingly well. This is a big problem for those who want to buy houses, cars, or just use their
The Federal Reserve Chair, Jerome Powell, recently announced that the US economy is in a solid shape and that interest rate cuts are on the horizon. However, these cuts will not come as a rapid-fire series of rate reductions. Instead, they will be implemented at a measured pace, intended to support
The Federal Reserve's unexpected rate cut has sent shockwaves through the economy, signaling a shift from its previous focus on taming inflation to boosting job growth. This dramatic change reflects the central bank's growing concern about the slowing job market, which has shown signs of slowing dow
