Economy
-
National debt fears are where Democrats and Republicans are most aligned—more so than on inflation, healthcare, or even the jobs market
When split along political lines, Americans are finding it hard to agree on most things these days. Polarization has been rising for years, recently spilling over into increasingly partisan viewpoints and even outright hostility. So when an issue breaks through to concern Americans from all political stripes, it’s likely worth paying closer attention to. Fears…
-
The U.S. auto industry went from global hegemon to running a $3.3 trillion trade deficit with the world: ‘That’s not acceptable’
It would hardly be an understatement to say the U.S. auto industry has historically been one of the country’s primary economic growth engines. The assembly line of the Model T days would go on to permanently reshape manufacturing work, and transportation infrastructure and cities were built around Americans’ unrelenting car-centric culture. But despite its outsized…
-
The China shock hollowed out factory towns. This professor thinks the AI shock is coming for your urban coffee shop
We all know that something changed in America in 2016, even if we’re still struggling to sort out what happens next. President Donald Trump broke through the “blue wall” of Pennsylvania, Wisconsin and Michigan as rust-belt voters agreed with his campaign messaging that they’d been “ripped off” and “taken advantage of” and the system had…
-
Trump is on a charm offensive ahead of President Xi meeting—and he wants Elon Musk and Tim Cook in tow
When President Trump lands in Beijing this week, he’ll be bringing with him the might of U.S. commerce. The U.S. and Chinese leaders meet after steadily escalating tensions over the past year—including a tit-for-tat trade battle following the announcement of the White House’s “Liberation Day” tariffs a little over a year ago. But it seems…
-
The Fed is ‘meaningfully deviating’ from one of the most basic rules for fighting inflation, BofA warns
Good morning. On Fortune’s radar today: Fed is breaking Econ 101’s golden rule, BofA warns. Markets: “Blown past expectations.” U.K.’s Starmer clings on as his MPs revolt. Iran vows to make U.S. taxpayers feel the pain. Tech bloodbath: 118,000 jobs gone in 2026. Forget your office ping-pong — meet the Wimbledon of work. Quick note: Subscribe…
-
Native American businesses have diversified beyond casinos to become a rural economic force. Trump is cutting off a lifeline that goes beyond tribes
Near Thackerville, Oklahoma, a town on the Texas border with fewer than 500 residents, what started as a small roadside bingo hall has spent the past 20 years growing into one of the planet’s largest gambling destinations. The WinStar World Casino, fully owned and operated by the Chickasaw Nation, is now the cornerstone of Oklahoma’s…
-
Fed researchers see a ‘full pass-through’ of Trump’s tariff costs to consumers, adding almost a full percentage point to inflation
The debate about who actually pays for tariffs has simmered in boardrooms and at kitchen tables across America. A little over a year into President Donald Trump’s tariff regime, a number of studies are now determining that U.S. consumers have been its biggest financier. The burden of tariff costs have gone from international trade partners,…
-
Forget U.S. debt, China’s total borrowing is in ‘a league of its own’—much worse and deteriorating faster, analyst says
As President Donald Trump gets set to meet Chinese counterpart Xi Jinping this week, China’s technological prowess will be on display, but its state-led growth model has been slowing—and a rapidly expanding mountain of debt is a warning sign. In fact, while the recent explosion in U.S. federal debt has raised numerous red flags, a…
-
Jensen Huang’s message to electricians and plumbers: ‘This is your time,’ as AI buildout leads to soaring demand for skilled trades
In the artificial intelligence age, industry leaders say the most in-demand and potentially lucrative professions might not be the roles building AI models themselves, but rather the sorely lacking manual labor needed to supply the technology’s massive infrastructure needs. That’s the endorsement of Nvidia CEO Jensen Huang. Addressing Carnegie Mellon University’s class of 2026 during…
-
Young Americans are more pessimistic about jobs than their parents—and no advanced economy has ever seen this kind of divide
For years, younger Americans have been more optimistic about the job market than older Americans, even through the depths of the Great Recession. But in an abrupt shift, a new poll released Monday finds young people’s confidence has plummeted over the past two years — while their elders remain more upbeat. The gap between young…