Tim Smart

Washington, D.C.

Contributor at U.S. News and World Report

Executive Editor of U.S. News & World Report, Manchester United fan. Views are my own.

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Articles

Tariffs Flip-Flop Drives Markets as Economic Data Takes a Back Seat

1 week ago | usnews.com | Tim Smart

After a break for Memorial Day, the economic news picks up this week with key readings on home prices, inflation, consumer spending and gross domestic product. In another time, any one of the economic data reports would warrant attention from investors and economists. But with the Federal Reserve on the sidelines at the moment and last week’s sell-off of stocks and a nervy bond market, there is really only one thing that is grabbing attention: tariffs.
Don't Forgo This Year's Vacation

1 week ago | money.usnews.com | Tim Smart |Elizabeth Whitehead

Memorial Day marks the traditional start of the summer travel season. I got a jump on some of you this year, taking a much-needed break a couple weeks ago. The weather was spectacular and the crowds minimal at Cape San Blas on Florida’s Forgotten Coast, as is often the case during the shoulder season. But this year, according to reports, you may not find as many people traveling as usual.
GOP Budget Faces a Nervous Bond Market Worried About Tax Cuts, Increased Debt

2 weeks ago | usnews.com | Tim Smart

Is America about to have a Liz Truss moment? Truss was the British prime minister who proposed a budget that combined tax cuts and increased government spending in 2022 as the country faced a cost of living crisis. But interest rates on U.K. bonds soared while the value of the pound slumped, forcing Truss to resign after 50 days – the shortest tenure of a British prime minister in history.
Gauge of the Economy Continues to Weaken in April

2 weeks ago | usnews.com | Tim Smart

There was more data Monday suggesting a further weakening of the consumer spirit as a forward-looking gauge of the U.S. economy fell sharply in April after a downward revision to March’s reading. The Conference Board’s leading economic index fell 1% to a reading of 99.4 (the measure is pegged to a base of 100 set in 2016) on a softening of some economic data and consumers’ expectations for the future health of the economy.
Debt, Tariffs Remain Thorny Issues for GOP and Trump

2 weeks ago | usnews.com | Tim Smart

President Donald Trump enjoyed a Middle East sojourn that included greetings fit for a king along with engaging in his favorite pastime: announcing business deals that involve investments in America and sales of U.S. goods to foreign nations. But he returns to some late-week road bumps as Moody’s on Friday joined the two other leading credit ratings agencies in downgrading U.S. debt from the highest Aaa to Aa1. Fitch lowered its rating in 2023 to AA+, while S&P made that move back in 2011.
Housing Costs Matter in Picking a Retirement Spot

2 weeks ago | money.usnews.com | Tim Smart |Elizabeth Whitehead

One of the biggest decisions entering into retirement is where to live. Although the majority of people stay put, those who decide to move are generally influenced by a variety of factors including nearness to family, climate, the tax situation and the all-important cost of housing. That explains why Florida, where my wife and I live, and the Carolinas have traditionally topped the list of retirement destinations as they mix affordability, a relaxed lifestyle and natural beauty.
Consumer Sentiment Steady but Worries Emerge Over Personal Finances

3 weeks ago | usnews.com | Tim Smart

Americans continue to worry about the economy and their personal finances even as a temporary thaw in the global trade war steadies the stock market. That’s the takeaway from the preliminary May consumer sentiment index from the University of Michigan released on Friday. The overall index came in at 50.8, down from 52.2 in April, while the measure of future expectations dropped to 46.5 from 47.3. Overall consumer sentiment has fallen nearly 30% from January.
Inflation Moderates in April on Lower Gas, Grocery Prices

3 weeks ago | usnews.com | Tim Smart

Consumer prices rose less than expected in April, with the pace of annual inflation falling to its lowest level since early 2021, the Bureau of Labor Statistics reported on Tuesday. The consumer price index increased by 0.2% for the month, better than the 0.3% forecast, as price decreases for gasoline and groceries offset an increase in housing costs. The pace of annual price increases dipped to 2.3% from 2.4% in March.
U.S.-China Trade Deal Sends Markets Soaring as Inflation Data Arrives This Week

3 weeks ago | usnews.com | Tim Smart

President Donald Trump secured two wins on trade in a matter of days, with the latest being an announcement Sunday that negotiations between top U.S. officials and their Chinese counterparts had concluded in a 90-day reduction of tariffs.
Vanguard’s View: How Investors Are Dealing With Market Jitters

3 weeks ago | money.usnews.com | Tim Smart |Elizabeth Whitehead

The first quarter of 2025 has provided those saving for retirement and others already enjoying it with some stomach-curdling drops in the stock market. In early April, the S&P 500 index suffered a two-day, 10% loss in value after President Donald Trump announced sweeping import tariffs. While those losses were somewhat recouped following a postponement of some levies, concern about tariffs continues to roil the markets. Bottom line? Volatility may be our constant companion in the coming months.