Oct 23 U.S. hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic By Fatima Hussein, Associated Press This rapid debt accumulation is the fastest outside of the COVID-19 pandemic, with the debt having reached $37 trillion in August. Continue reading
Oct 15 WATCH: Bessent says Trump still expects to meet Chinese leader as trade tensions increase By Associated Press Resurgent trade tensions have threatened ongoing negotiations over tariffs between the U.S. and China. Continue reading
Oct 14 Powell: Slowdown in U.S. hiring suggests economy still needs rate cuts By Christopher Rugaber, Associated Press Economists said Federal Reserve Chair Jerome Powell's remarks solidified expectations for further rate cuts, starting at its next meeting. Continue reading
Aug 05 What we know about Trump's Fed chair candidates so far By Fatima Hussein, Associated Press President Donald Trump said Tuesday that he's whittled down his list of potential Federal Reserve chair candidates to four as he considers a successor to Jerome Powell — a choice that could reset the path of the U.S. economy. Continue reading
Jun 12 WATCH: Bessent appears before House committee as Congress considers Trump's tax bill By Fatima Hussein, Associated Press Treasury Secretary Scott Bessent and other Republicans say that the U.S. could head toward economic catastrophe if the measure is not passed. Continue reading
Jun 11 WATCH: Bessent testifies on Treasury Department priorities after U.S.-China trade talks By Associated Press Testifying in front of the House Ways and Means committee Wednesday, Bessent was also asked about Trump’s stated desire to punish Harvard University and other nonprofit organizations by directing the IRS to revoke their tax-exempt status. Continue reading
May 21 Trump's tariffs will test U.S. allies at G7 finance ministers' summit By Christopher S. Rugaber, Associated Press The annual meetings of the Group of 7 finance ministers, known as the G7, are typically congenial and in previous years have produced joint commitments to combat inflation and counter the COVID pandemic. There may be less agreement this year. Continue reading
May 18 Bessent acknowledges Trump's tariffs may mean shoppers will pay more at Walmart By Josh Boak, Associated Press Treasury Secretary Scott Bessent acknowledged Sunday that Walmart, the largest U.S. retailer, may pass along some of the costs from President Donald Trump’s tariffs to its shoppers through higher prices. Continue reading
May 12 U.S. and China reach temporary deal to reduce sky-high tariffs for 90 days, plan more talks By Jamey Keaten, David McHugh, Elaine Kurtenbach, Ken Moritsugu, Associated Press Stock markets rose sharply as the globe's two major economic powers took a step back from a clash that has unsettled the global economy. Continue reading
May 07 China agrees to trade talks with the U.S. and rolls out more stimulus as tariffs hit economy By Ken Moritsugu, Elaine Kurtenbach, Associated Press President Donald Trump's tariffs, set as high as 145 percent on imports from China, have begun to take a toll on its export-dependent economy at a time when it's already under pressure from a prolonged downturn in the property sector. Continue reading