Economy

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U.S. economy shrank 0.5% between January and March, worse than 2 earlier estimates had revealed

By Paul Wiseman, Associated Press

The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s import taxes at least temporarily disrupted business, the Commerce Department said.

Watchdog warns Trump’s budget bill could complicate 2026 tax filing season after IRS staffing cuts

By Fatima Hussein, Associated Press

The National Taxpayer Advocate report notes that the IRS historically receives more calls after significant changes in tax law, so it may need additional employees and improved digital tools to maintain its level of service if Trump's legislative package passes…

WATCH: Fed Chair Powell says interest rate cut can wait in testimony before House committee

By Chris Rugaber, Associated Press

“For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” Jerome Powell said in testimony Tuesday before the House Financial Services Committee.

Trump calls for more crude drilling amid jitters that Iran may close critical shipping lane

By Aamer Madhani, Associated Press

President Donald Trump urged stepped-up production as the White House sharpened its warnings to Iran against closing the Strait of Hormuz, a vital oil and gas shipping lane, in retaliation for the U.S. strikes on Iran's nuclear program.

Oil prices rise, U.S. stock futures slide in response to U.S. strikes on Iranian nuclear sites

By Associated Press

The price of oil rose and U.S. stock futures fell as global markets react to the U.S. strike against nuclear targets in Iran.

AI and ‘recession-proof’ jobs: 4 tips for new job seekers

By Hannah Grabenstein

Experts told PBS News that there are plenty of concrete steps grads can take to help make the job search less painful and more rewarding.

Russia’s on ‘the brink of recession,’ country’s economy minister says

The economy, hit with a slew of sanctions after the Kremlin sent troops into Ukraine in February 2022, has so far outperformed predictions.

Nippon Steel finalizes $15 billion buyout of U.S. Steel after sealing national security agreement

By Marc Levy, Associated Press

The pursuit by Nippon Steel for the Pittsburgh-based company was buffeted by national security concerns and presidential politics in a premier battleground state, dragging out the transaction for more than a year after U.S. Steel shareholders approved it.