Latest Economy News
5 economic forces that could shape the first year of Trump's presidency
WASHINGTON (AP) — Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. The Republican has promised strong growth, high tariffs, income tax cuts and booming oilfields. But despite the solid job market and low 4.1% unemployment rate, he has to...
Next week: General Motors earnings, Fed policy meeting and the government's first Q4 GDP estimate
A look at some of the key business events and economic indicators upcoming next week. GM results General Motors reports its fourth-quarter financial results on Tuesday. Wall Street expects the Detroit automaker earned $1.82 per share on $44.6 billion in...
Syria's economic pains far from over despite Assad's ouster
DAMASCUS, Syria (AP) — Samir al-Baghdad grabbed his pickax and walked up a wobbly set of stairs made of cinderblocks and rubble. He is rebuilding his destroyed family house in the Qaboun neighborhood near Damascus, Syria 's capital. The traditional building, which...
Trump says he will 'demand' that interest rates come down, but it won't be that simple
WASHINGTON (AP) — President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep. Economic growth is solid, driven by healthy consumer spending. And budget deficits are huge and...
Trump says 25% tariffs on Canada and Mexico coming on Feb. 1 as he signs several orders on economy
WASHINGTON (AP) — President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports. Trump made the announcement in response to reporters' questions while signing...
IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook
WASHINGTON (AP) — The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump’s promises to slash U.S. taxes, impose tariffs on foreign goods, ease...
IMF sees steady global growth, but warns that Trump tariff, tax and deportation plans cloud outlook
WASHINGTON (AP) — The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year. But it warned that the outlook is clouded by President-elect Donald Trump’s promises to slash U.S. taxes, impose tariffs on foreign goods, ease...
China's economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
HONG KONG (AP) — China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and recent stimulus measures. The economy picked up speed in the last quarter, the government...
World Bank says the global is economy is growing steadily, but not fast enough to help ease poverty
WASHINGTON (AP) — The global economy is growing steadily in the face of war, protectionist trade policies and high interest rates. It just isn’t growing fast enough to bring relief to the world’s poorest, the World Bank said Thursday in its latest assessment of the global economy. ...
Why are interest rates rising when the Fed has been cutting them?
NEW YORK (AP) — What’s shaking Wall Street seems so backwards. Swings in the bond market recently sent the yield on the 10-year Treasury above 4.80% and its highest level since 2023. That's injected nervousness into the U.S. stock market and knocked indexes off their records. ...
