Economy
4 things to know about Trump’s plan for a ‘crypto strategic reserve’
The prospect of a federal strategic reserve is a major step in President Trump's vision to establish the U.S. as the crypto capital of the world and could be a game changer for the industry.
Trump says 25% tariffs on imports from Canada and Mexico will go ahead
Trump's threats to put tariffs on imports from Canada and Mexico have weighed on markets, even though there has been considerable uncertainty over whether he would make good on his threat.
Under Trump, Huntsville might finally gain Space Command. It could also lose much more
The 1,600 jobs Space Command would bring to the Rocket City might not make up for potential cuts to NASA and the Department of Defense.
Consumer confidence falls the most since 2021 over fears about inflation and tariffs
A report from the Conference Board shows Americans are increasingly worried about inflation, driven in part by President Trump's threats to impose new tariffs on imports.
From tariffs to spending, rounding up the Trump administration’s econ-related actions
Since taking office in late January, the Trump administration has been working at a galloping pace to reshape the government and economy. We have been doing our best to keep up and keep you informed.
IRS cuts over 6,000 jobs in the middle of tax season
The IRS is cutting more than 6,000 jobs this week, as part of the Trump administration's downsizing of the overall federal workforce. The job cuts at the IRS come in the middle of the tax-filing season.
Deep cuts to NIH funding would cause economic harm across Trump-friendly Alabama
Birmingham has become one of the country’s leading hubs for biomedical research. Banners downtown brag about the University of Alabama at Birmingham’s status in the top 1% of institutions for NIH funding, bringing in hundreds of millions of dollars into the region.
Trump threatens reciprocal tariffs against other countries
President Trump is threatening to levy taxes on imports to match those other countries charge on U.S. exports.
Retailers including Trader Joe’s and Kroger have begun limiting egg purchases
Egg farmers have been plagued by widespread outbreaks of bird flu. Experts say it's hard to predict when the industry will bounce back from the illness' effects.
No relief: Inflation unexpectedly heated up last month
Inflation remained stubbornly high in January, as grocery, gasoline and shelter costs all rose. Egg prices saw their biggest price hike in almost a decade.
Federal Reserve’s Jerome Powell says there’s no need to rush on interest rate cuts
Powell was also asked about the high cost of home ownership and President Trump's trade policies, but as usual, the Fed chair tried to steer clear of politics.
Tourism in New Orleans remains strong despite terrorist attack. Will the trend last?
The Super Bowl is in town, and so far, fears that visitors would avoid the big game because of January’s attack on Bourbon Street have not rang true.
Why economists got free trade with China so wrong
The "China Shock" is revisited, and it raises questions about why economists failed to see the costs of free trade.
Trump says he will impose a 25% tariff on aluminum and steel imports
Additionally, he plans to announce reciprocal tariffs on "everyone" on Tuesday or Wednesday: "If they charge us, we charge them. That's all," he said. "Every country will be reciprocal."
Chinese counter-tariffs to kick in as Trump threatens more to come
The tariffs from China range from 10% to 15% and are applied to crude oil, liquefied natural gas, farm machinery and select other products from the U.S.
Employers added fewer jobs in January — but the labor market overall remains healthy
U.S. employers added 143,000 jobs in January — a modest slowdown from the two previous months. The unemployment rate dipped to 4%.
Here’s a Super Bowl riddle: Why are egg prices surging — but not chicken wings?
There is one economic riddle ahead of Super Bowl Sunday: The egg market has been hit hard by avian flu, but wings are abundant and relatively affordable this year. So what gives?
Waffle House is passing along the sky high cost of eggs to diners
Bird flu is forcing farmers to slaughter millions of chickens a month, pushing U.S. egg prices to more than double their cost in the summer of 2023. And there may be no relief in sight
China targets U.S. coal, gas, Google as Trump tariffs take effect
Trump ordered tariffs against China, Canada and Mexico over the weekend. Canada and Mexico reached last-minute deals to pause those tariffs Monday.
Trump puts Mexico tariffs on hold for 1 month after a call with the Mexican president
US tariffs on Mexico to be put on hold for month
Trump used fentanyl to justify tariffs, but the crisis was already easing
The White House says fentanyl smuggled to the U.S. justifies tariffs against Canada, China and Mexico. But fentanyl deaths and smuggling have been dropping fast — and Canada plays almost no role.
Trump imposes new tariffs on imports from Mexico, Canada and China in new phase of trade war
Starting Tuesday, nearly all imports from Canada and Mexico will be charged a 25% tariff, while goods from China will be charged a 10% tariff.
Businesses, shoppers brace for higher prices if tariffs on Mexico and Canada imports start Saturday
President Trump renewed his threat to impose 25% tariffs on imports from Mexico and Canada as early as this weekend. The move could raise prices on everything from gasoline to guacamole.
Trump’s pick for Commerce Secretary is Howard Lutnick. Here’s what to know
The billionaire Wall Street CEO fielded questions about tariffs, China's AI progress, broadband access, allegiance to Trump and the revival of American mining and semiconductor production.
The Federal Reserve holds interest rates steady as inflation remains stubborn
The Fed held interest rates steady as it continues to combat inflation. President Trump wants to see lower rates, but some of his policies could fuel more price hikes.
5 economic papers that lit up our brains — and what they say about our confusing world
We at Planet Money are constantly reading the work of economists and other social scientists to glean ideas, evidence and insights about the economy, and, more generally, the confusing world around us. Welcome to the inaugural installment of the Planet Money Econ Roundup!
In Las Vegas, Trump once again pitches no taxes on tips
President Trump's pitch to stop taxing tips is popular with everyone -- except for economists.
Experts warn about the ‘crumbling infrastructure’ of federal government data
Unstable federal funding puts at risk the government statistics used to track the U.S. economy and population, officials and data users warn. That's before any cuts by President Trump and Congress.
This economist survived a wildfire. Now she’s taking on California’s insurance crisis
An economist's harrowing escape from fire, and her big ideas to rescue California from its insurance doom spiral.
Why Trump’s tariff promises will be hard to keep
President-elect Donald Trump has said his tariffs will raise revenues, boost U.S. jobs, and help stop the drug trade. But some of these goals are at odds with the others.
Immigrants drive Nebraska’s economy. Trump’s mass deportations pledge is a threat
Nebraska is one of the top meat producers in the U.S. It also has one of the worst labor shortages. The incoming Trump administration has promised mass deportations on an unprecedented scale. We asked Nebraskans what that could mean.
China’s population falls for a third straight year, posing challenges for its economy
Rising costs of living are causing young people to put off or rule out marriage and child birth while pursuing higher education and careers.
