Tag Archives: Inflation

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

WASHINGTON (AP) — The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year. The Fed’s policymakers signaled they still expect to cut rates twice this year, even as they also project that President Donald Trump’s import duties will push inflation higher. They also expect growth to slow and unemployment to edge up, according to their latest quarterly projections. Fed policymakers had cut their rate three times late last year but have since have been on hold.… Continue Reading

Americans increased spending tepidly last month as anxiety over the economy takes hold

Americans increased spending tepidly last month as anxiety over the economy takes hold

WASHINGTON (AP) — U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores. The small increase suggests Americans may be growing more wary about spending as the stock market has plunged and President Donald Trump’s tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.… Continue Reading

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

Stocks’ sell-off worsens as Wall Street wonders how much pain Trump will accept for the economy

NEW YORK (AP) — Wall Street’s sell-off is worsening. The S&P 500 fell 2.2% Monday as worries build about how much pain President Donald Trump is willing to endure on the economy in order to get what he wants. The Dow Jones Industrial Average dropped 530 points, and the Nasdaq composite sank 3.6%. The losses follow the worst week for U.S. stocks since September on concerns that on-and-off-again tariffs will either hurt the economy directly or create enough uncertainty to freeze it. Elon Musk’s Tesla fell to one of the market’s sharpest losses, as did airlines and other companies that need U.S. shoppers feeling confident enough to spend.… Continue Reading

Egg prices could jump another 41% this year, USDA says, as Trump’s bird flu plan unveiled

Egg prices could jump another 41% this year, USDA says, as Trump’s bird flu plan unveiled

WASHINGTON (AP) — The Trump administration believes a renewed emphasis on biosecurity can help in the battle against bird flu and ease egg prices, but the Agriculture Department predicts the current record prices are going to get much worse this year. It’s also not clear how much more farmers can do to keep the virus out. Agriculture Secretary Brooke Rollins offered the first new details about her bird flu plan Wednesday. But USDA predicted this week that egg prices will soar more than 41 percent this year on top of the record average price of $4.95 per dozen.… Continue Reading

As egg prices soar, Trump administration plans new strategy to fight bird flu

As egg prices soar, Trump administration plans new strategy to fight bird flu

MINNEAPOLIS (AP) — With egg prices soaring, the Trump administration is planning a new strategy for fighting bird flu that stresses vaccinations and tighter biosecurity instead of killing off millions of chickens when the disease strikes a flock. The director of the National Economic Council said on CBS’ “Face the Nation” that officials are moving away from the standard practice of destroying all the birds on a farm when an infection is detected. The culling of millions of chickens per month has caused egg prices to skyrocket. Some retailers are rationing sales. The official, Kevin Hassett, says the administration plans to announce further details this week.… Continue Reading

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