Economy
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Everyone was wondering what Trump wanted more: Warsh smoothly seated at the Fed, or for Powell to pay. We now have an answer.
Ever since Trump announced that former Fed Governor Kevin Warsh was his nominee to lead the central bank, there was a question: Would Trump now end his feud with current chairman Jerome Powell (whom he also nominated in 2017) to clear the path for a shiny, new face behind the podium? It seems not. The
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The Iran war’s fertilizer shock is hammering American farmers and 70% can’t afford what they need for this year’s growing season
With the planting season ending in six weeks, skyrocketing fertilizer prices are forcing farmers into an impossible choice: cut back and lose crop yield or stay the course and lose money. A survey published Tuesday of 5,700 farmers conducted by the Farm Bureau shows that around 70% of farmers are unable to afford all the
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Trumpflation hits the World Cup: Fans face $80–$100 transit fares on top of $4,000-plus tickets
In an economy squeezed by tariffs, elevated fuel costs, and stubborn inflation, the FIFA World Cup was supposed to be America’s summer triumph. For millions of fans, it’s shaping up to be something else: a financial gauntlet. Before they cheer a single goal, many will face $80 to more than $100 transit fares, $4,000-plus tickets,
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Economists warned California not to raise the minimum wage to $20. They were wrong in almost every way so far, another economist says
Following California implementing a law raising its minimum wage to $20 for more than 500,000 fast-food workers in the state in 2024, Christopher Thornberg, founding partner of research firm Beacon Economics, offered a warning about the state raising its minimum wage. “California’s well-intended push to reduce income inequality via wage floors is beginning to have
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Markets haven’t rallied this fast since COVID—Iran volatility is just another ‘notch on the belt’ of investors, says J.P. Morgan strategist
Markets are trading strongly this week on hopes that the Iran war might soon be coming to an end. A fragile ceasefire has held despite peace talks collapsing, but President Trump overnight suggested conversations could resume this week. Investors are ready to hear some good news—in fact, some economists are worried that they’re so keen
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Xi Jinping says the world order is ‘crumbling into disarray.’ Larry Fink and the IMF are worried about a global recession
Chinese President Xi Jinping issued some of his starkest language yet about the state of the global economy on Tuesday, telling Spanish Prime Minister Pedro Sánchez in Beijing “the international order is crumbling into disarray” in remarks reported by Bloomberg, which clarified the Chinese phrase connotes not merely chaos, but also moral decay. The two
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Trump’s economy officially passes Biden’s for worst consumer sentiment in recorded history
American consumers are more pessimistic about the economy than at any time in recorded history. The University of Michigan’s Consumer Sentiment Index fell to 47.6 in preliminary April 2026 readings released Friday — a 10.7% drop from March’s 53.3 and the lowest reading in the survey’s 74-year history. The figure blew past the prior record
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Trump’s macho MAGA economy is a bust. But there are plenty of high-paying jobs for men—in nursing and teaching
The White House promised a manufacturing renaissance. Instead, the factory floor keeps shrinking. For young men willing to ditch the hard-hat fantasy, the real money is in so-called “pink-collar” work—and the pay is better than anything on the shop floor. President Donald Trump built a political movement on the promise of restoring blue-collar America: steel
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Trump’s agricultural tariffs hit all 50 states—driving up food prices, crushing exports, and leaving farmers with nowhere to turn
When the Trump administration began its tariff campaign in 2025, some of the loudest critics focused on the consequences for Midwestern farmers or for border states. A year in, the impact of tariffs has become clearer, and some research suggests no state has emerged completely unscathed. Early last year, the Trump administration established one of
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IMF slashes global growth forecast, blaming ‘war in the Middle East’ for halted momentum
The Iran war has stalled the world’s economic momentum this year, likely pushing growth lower compared to 2025, the International Monetary Fund warned Tuesday. The IMF downgraded its forecast for global growth to 3.1% in 2026 from the 3.3% it had forecast back in January. The expected growth would mark a deceleration from a 3.4%