Paul Davidson

2 weeks ago | jsonline.com | Paul Davidson |Francesca Chambers |Dian Zhang |Swapna Venugopal Ramaswamy |Medora Lee |Andrea Riquier | +1 more

U.S. GDP shrank at an annual rate of 0.3% in the first quarter of 2025, marking the first decline in three years. Experts attribute the contraction to a surge in imports as businesses stocked up before Trump's tariffs took effect. Despite the decline, key economic indicators like consumer spending and business investment showed solid growth. Economists predict slower economic growth later this year, with some forecasting a mild recession due to tariffs.

2 weeks ago | pontiacdailyleader.com | Paul Davidson |Swapna Venugopal Ramaswamy |Medora Lee |Andrea Riquier

The U.S. economy contracted early this year as businesses imported a massive trove of goods before President Donald Trump’s sweeping tariffs took effect, widening the trade deficit and curtailing growth. U.S. gross domestic product, the value of all goods and services, shrank at an 0.3% annual rate in the first three months of the year, down from a 2.4% increase at the end of last year. Stocks slid early Wednesday on the news.

3 weeks ago | usatoday.com | Paul Davidson

During the COVID-19 recession, 22 million laid-off workers sought unemployment benefits, sparking chaos in the payment system and compounding the financial woes of jobless Americans. Five years later, with many forecasters predicting another downturn is likely in 2025, a far less burdened benefits system remains plagued by myriad problems that could hamper payments to Americans who lose their jobs in an economic slump, according to a new report.

3 weeks ago | usatoday.com | Paul Davidson

President Donald Trump’s swipe at Jerome Powell Thursday, in which he referred to the Federal Reserve chief’s “termination,"  marks the latest salvo in Trump’s longstanding efforts to browbeat the central bank chairman into lowering interest rates. “Powell’s termination cannot come fast enough!” Trump wrote on Truth Social of Powell, whose term as chair ends in May 2026.

4 weeks ago | desertsun.com | Paul Davidson

President Donald Trump’s on-again, off-again tariffs have been roiling markets and raising recession fears. But Federal Reserve Chair Jerome Powell on Wednesday stuck to his slow and steady message: Let’s keep inflation contained and wait for greater clarity on a hazy outlook. With Trump’s tariffs predicted to both increase inflation and slow the economy – leaving the Fed torn between its two missions - Powell reiterated that the central bank’s main job is to keep prices in check.