Tag:

Inflation

Trump Reignites Trade War With EU, Threatens Apple With iPhone Tariffs Trump Reignites Trade War With EU, Threatens Apple With iPhone Tariffs
Trump Reignites Trade War With EU, Threatens Apple With iPhone Tariffs President Donald Trump issued new tariff threats against the European Union and Apple, relaunching trade feuds that have shaken the US economy throughout 2025. Trump threatened the EU with a 50% tariff in a post on his social media platform Truth Social on Friday, May 23. He claimed the higher duties would go into effect on Sunday, June 1. The President accused the EU of being "difficult to deal with" in trade negotiations. "Our discussions with them are going nowhere!" Trump posted. "Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There …
Walmart Raising Prices Due To Trump's Tariffs, CEO Says: Here's What's More Expensive Walmart Raising Prices Due To Trump's Tariffs, CEO Says: Here's What's More Expensive
Walmart Raising Prices Due To Trump's Tariffs, CEO Says: Here's What's More Expensive Executives at Walmart are warning that the retail giant will raise prices on many everyday items due to President Donald Trump's sweeping tariffs. Walmart will hike the costs of many grocery items and general merchandise, CEO Doug McMillon said during an earnings call on Thursday, May 15. The announcement comes as Walmart's revenue rose 2.5% in the first quarter of 2025. McMillon said the chain can't swallow the greater costs caused by Trump's tariffs. "We're positioned to manage the cost pressure from tariffs as well or better than anyone, but even at the reduced levels, the hig…
Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says
Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says April's retail sales flatlined as Americans pulled back on spending, the latest sign that trade tensions under President Donald Trump's tariffs are taking a toll on the US economy. Total retail and food service sales rose just 0.1% in April, compared to March's 1.7% surge, the U.S. Census Bureau said on Thursday, May 15. April's monthly gain was within the margin of error (+/- 0.5%), suggesting no meaningful growth. From February to April, total sales rose 4.8% compared to the same period in 2024. The healthy gains appear to be slowing down after consumers rushed in February and March …
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook
Inflation Holds Steady, Grocery Prices Drop As Trump's Trade Policies Cloud Outlook Inflation was relatively flat as President Donald Trump's sweeping tariffs went into effect in April, with lower grocery prices helping keep overall costs in check. Monthly inflation increased just 0.2% from March, the Bureau of Labor Statistics said on Tuesday, May 13. Consumer prices rose 2.3% from April 2024, the smallest yearly inflation since February 2021. The annual inflation number was slightly below the 2.4% Dow Jones forecast, CNBC reported. Wall Street didn't react much to the consumer price index (CPI) data, with stocks and Treasury yields staying relatively unchanged when …
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy A Texas restaurant company is set to buy On The Border Mexican Grill & Cantina after the Tex-Mex chain filed for bankruptcy, closing more than 70 locations – including more than a dozen in the Northeast. Pappas Restaurants won an auction for On The Border, the Houston-based group said in a news release on Wednesday, May 7. The deal needs court approval and is expected to be finalized "in the coming weeks." The price wasn't mentioned in Pappas' announcement. The company previously submitted a $15.9 million stalking horse bid to buy On The Border, FSR Magazine reported in A…
Sam’s Club Drops Membership to Just $20 — But Only Through May 12 Sam’s Club Drops Membership to Just $20 — But Only Through May 12
Sam’s Club Drops Membership to Just $20 — But Only Through May 12 Sam’s Club doesn’t offer membership deals like this often, but right now, for a limited time, new members can score a Sam’s Club annual membership for just $20—less than half the regular $50 price. The offer is available online only through May 12, 2025, and it unlocks access to one of the country’s most popular warehouse clubs. With inflation still tightening budgets, this promotion couldn’t come at a better time.  The $20 membership gives access to all Sam’s Club locations nationwide, along with exclusive member pricing on groceries, cleaning supplies, tech, home goods, and more. Mem…
McDonald's Suffers Biggest US Sales Hit Since COVID-19 Pandemic Began: Here's Why McDonald's Suffers Biggest US Sales Hit Since COVID-19 Pandemic Began: Here's Why
McDonald's Suffers Biggest US Sales Hit Since Covid-19 Pandemic Began: Here's Why Sales at McDonald's experienced their sharpest drop since the start of the COVID-19 pandemic, as companies struggle to navigate chaotic economic conditions in the US. McDonald's sales in the US fell 3.6% in the first quarter of 2025, the company said in its earnings report on Thursday, May 1. The drop marks the fast food giant's steepest quarterly decline since the second quarter of 2020, when US sales plummeted by 8.7% as the pandemic forced restaurants worldwide to temporarily close. The slump was more than double what economists expected and came as inflation, tariffs, and…
Xbox Console, Game Prices Rise As Trump's Tariffs Hit Gamers: Here's What You'll Pay Xbox Console, Game Prices Rise As Trump's Tariffs Hit Gamers: Here's What You'll Pay
Xbox Console, Game Prices Rise As Trump's Tariffs Hit Gamers: Here's What You'll Pay Xbox video games, consoles, and accessories are now more expensive as gamers navigate higher production costs and mounting trade pressure from President Donald Trump's sweeping tariffs. The Xbox Series X now costs $599.99, up from $499.99, Microsoft announced on Thursday, May 1. The cheaper Series S 512GB model is up to $379.99, while the 2TB Galaxy Black Special Edition console price jumped to $729.99. Some new, first-party games are expected to cost $79.99 by the holiday season. "We understand that these changes are challenging, and they were made with careful consideration given ma…
Unemployment Claims Surge, GDP Shrinks As Recession Fears Rise Under Trump Unemployment Claims Surge, GDP Shrinks As Recession Fears Rise Under Trump
Unemployment Claims Surge, GDP Shrinks As Recession Fears Rise Under Trump Unemployment claims unexpectedly rose as the US economy shrank amid President Donald Trump's sweeping tariffs, further escalating concerns of a coming recession. Initial unemployment claims jumped to 241,000 for the week ending Monday, April 26, according to Department of Labor data released on Thursday, May 1. That's the largest weekly number since February and 18,000 more than the prior week. The surge pushed the four-week moving average to 226,000 first unemployment claims. The 241,000 claims were also well above the Dow Jones estimate of 225,000, CNBC reported. Continued…
US Economy Shrinks, Private Jobs Report Disappoints As Trump's Tariffs Spark Financial Slump US Economy Shrinks, Private Jobs Report Disappoints As Trump's Tariffs Spark Financial Slump
US Economy Shrinks, Private Jobs Report Disappoints As Trump's Tariffs Spark Financial Slump The US economy shrank during President Donald Trump's first three months back in office, breaking a three-year growth streak as imports surged ahead of his trade wars. Real gross domestic product fell at an annual rate of 0.3% in the first quarter of 2025, according to Bureau of Labor Statistics data released on Wednesday, April 30. It marked the first quarter of negative growth since early 2022. The economic contraction is a dramatic drop from the 2.4% GDP growth the US experienced in the fourth quarter of 2024. The shrinking was largely due to a 41.3% spike in imports …
Economic Expectations Sink To 14-Year Low As Trump's Tariffs Crush Consumer Confidence Economic Expectations Sink To 14-Year Low As Trump's Tariffs Crush Consumer Confidence
Economic Expectations Sink To 14-Year Low As Trump's Tariffs Crush Consumer Confidence Consumer confidence has continued its sharp decline in 2025 as President Donald Trump's tariffs fueled Americans' pessimism about the economy, jobs, and their own incomes. The Conference Board's Consumer Confidence Index dropped 7.9 points to 86.0 in April, the nonprofit said in a news release on Tuesday, April 29. This marked the fifth straight decline and the lowest reading since the early days of the COVID-19 pandemic. The Expectations Index, which tracks views of the next six months, plunged 12.5 points to 54.4 – its lowest level since October 2011. That's far b…
New Stance On Tariffs By One Of America's Biggest Grocery Store Owners Could Protect Prices New Stance On Tariffs By One Of America's Biggest Grocery Store Owners Could Protect Prices
New Stance On Tariffs By One Of America's Biggest Grocery Store Owners Could Protect Prices Albertsons Companies is warning its suppliers: don't expect to pass tariff costs on to us, and definitely don't think we'll pass them on to our shoppers. In a letter sent to suppliers in March 2025, Albertsons told vendors that, with few exceptions, it "is not accepting cost increases due to tariffs," according to reporting by BoiseDev. The grocery giant further advised that any tariff-related surcharges added to invoices without prior approval could cause disputes and payment delays. Supermarket News and Grocery Nerd confirmed that suppliers seeking an exception must submit a detailed…
Trump Sinks To Lowest 100-Day Approval In 80 Years, Poll Shows Trump Sinks To Lowest 100-Day Approval In 80 Years, Poll Shows
Trump Sinks To Lowest 100-Day Approval In 80 Years, Poll Shows Donald Trump just made history — but not the kind he wanted. A new ABC News/Washington Post/Ipsos poll shows Trump’s approval rating has sunk to 39 percent just 100 days into his second term, the lowest for any president at this point in office in more than 80 years, according to a report released Sunday, April 28. The poll, conducted nationally, paints a grim picture for the former president as Americans grow increasingly nervous about the economy.  Seventy-two percent believe Trump's policies are likely to cause a recession soon, while 73 percent already say the economy is in bad sh…
Here's Percentage Of Americans Who Approve Of Trump's Handling Of Economy: New Poll Here's Percentage Of Americans Who Approve Of Trump's Handling Of Economy: New Poll
Here's Percentage Of Americans Who Approve Of Trump's Handling Of Economy: New Poll A new poll finds what Americans think about how President Donald Trump is managing the economy as he nears the 100-day mark of his second non-consecutive term. Just 37 percent of respondents said they support Trump’s approach to economic issues, according to a Reuters/Ipsos poll released on Wednesday, April 23.  That marks a sharp drop from the 42 percent approval rating measured shortly after his Monday, Jan. 20 inauguration, and the lowest economic approval level Trump has recorded in either term. The survey highlights growing unease over Trump’s aggressive economic strategy, which …
Going Broke Scarier Than Death For Many Americans, New Study Says: Here's Why Going Broke Scarier Than Death For Many Americans, New Study Says: Here's Why
Going Broke Scarier Than Death For Many Americans, New Study Says: Here's Why Nearly two in three Americans worry more about running out of money than dying, according to a new survey. Allianz Life released its 2025 Annual Retirement Study on Tuesday, April 22. The life insurance provider found that 64% of US adults fear going broke more than death. That fear cuts across generations but is most common among Gen Xers in their 40s and 50s, with 70% saying they worry about outliving their savings. Millennials followed at 66%, while 61% of baby boomers said they share the same concern. The biggest financial concerns were inflation, taxes, and Social Security. "Wit…
Trump's Approval Rating Shifts In Survey By Top-Rated Pollster Measuring Tariff Response Trump's Approval Rating Shifts In Survey By Top-Rated Pollster Measuring Tariff Response
Trump's Approval Rating Shifts In Survey By Top-Rated Pollster Measuring Tariff Response A new national poll from a top-rated research firm shows public opinion shifting after President Trump nears the three-month mark of his second term. The latest survey by AtlasIntel, conducted Wednesday, April 10, through Sunday, April 14, among 2,347 US adults, found that 52 percent disapprove of Trump’s performance, while 46 percent approve — a net approval rating of minus 6 points.  That marks a continued slide from March, when Trump’s net rating was minus 5 points, and February, when he briefly held a positive rating of plus 0.6. ATLAS POLL – DONALD TRUMP APPROVALThe latest Atl…
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers Up to 800 workers are being laid off at Volvo plants across the mid-Atlantic as concerns grow about the US auto industry due to President Donald Trump's tariffs. Volvo Group North America will lay off 550 to 800 employees, a company spokesperson confirmed to the Daily Voice on Friday, April 18. The layoffs will happen at plants in Maryland, Pennsylvania, and Virginia. The Swedish automaker cited the need to adjust to worsening economic conditions. "Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory chang…
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes
Panic Buying Shrinks US Vehicle Supply As Trump's Tariffs Set Up Summer Price Hikes The US supply of new and used vehicles is quickly declining after car shoppers rushed to make purchases before President Donald Trump's sweeping tariffs shook the auto industry, setting the stage for a costly summer. New-vehicle stock fell to 2.69 million units by Tuesday, April 1, according to auto data company Cox Automotive. That was down 10.2% from the start of March and 2.4% lower than the same time in 2024. Buyers flooded showrooms in the final week of March, driven by seasonal trends and fears of price hikes tied to Trump's rapidly changing tariffs. "With import tariffs no…
Egg Prices Leave Wallets Scrambled: Easter 2025's Costs Outlined In New Study Egg Prices Leave Wallets Scrambled: Easter 2025's Costs Outlined In New Study
Egg Prices Leave Wallets Scrambled: Easter 2025's Costs Outlined In New Study Easter traditions are taking a hit this year – especially in the Northeast – as rising prices push families to scale back holiday plans, according to a new survey. Nearly half of Americans plan to skip dyeing eggs in 2025 because of rising costs, WalletHub said in its annual Easter Survey released on Tuesday, April 15. The personal finance website surveyed 200 adults nationwide about their preparations for the important Christian holiday that falls on Sunday, April 20. WalletHub found that 47% of Americans are passing on dyed eggs in 2025. Nearly two in five said that President Donald Trump…
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey
Most CEOs Expect Recession Within Six Months, Call Trump's Tariffs 'A Train Wreck': Survey A majority of CEOs across the country are now bracing for a recession within six months as confidence in the US economy tumbles to its lowest level in years due to President Donald Trump's tariffs, according to a new survey. The industry group Chief Executive released the findings from a poll of 329 CEOs and business owners on Monday, Apr. 14. The survey showed growing alarm over Trump's escalating tariffs, which many fear will push the country into a downturn. According to the survey, 62% of CEOs expect a recession over the next six months – the highest level in recent years and up fr…
Here’s Percentage Of Americans Who Feel Financially Stressed Here’s Percentage Of Americans Who Feel Financially Stressed
Here’s Percentage Of Americans Who Feel Financially Stressed A new poll finds that a growing number of Americans are feeling financially strained, a stark reflection of the nation's economic uncertainty. The nationwide survey, conducted by CNBC/SurveyMonkey from Thursday, April 3 to Monday, April 7, included 4,200 US adults and found that 73 percent of respondents reported feeling “financially stressed.” Among them, 38 percent identified as “very stressed,” with 66 percent citing tariffs as a major contributing factor. Even high earners are not immune — 29 percent of respondents making $100,000 or more said they’re under financial stress. The findin…
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey
Inflation Fears Hit 44-Year High As Trump Tariffs, Market Crash Sink Consumer Sentiment: Survey Concerns about inflation have spiked to their highest level in nearly 45 years, while consumer confidence plunged for the fourth straight month as Americans grow increasingly anxious about the economy, a new survey said. Americans now expect prices to climb 6.7% over the next year, the University of Michigan's Surveys of Consumers said on Friday, April 11. That's the highest inflation expectation reading since 1981 for the closely watched survey. While inflation cooled slightly in March, the latest federal numbers came before President Donald Trump announced his "liberat…
Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says
Inflation Cooled In March Before Trump's Tariffs Fueled Market Collapse, New Data Says Inflation slightly eased in March, just before President Donald Trump's sweeping tariff announcement sent Wall Street spiraling, wiping out trillions in market value before a temporary tariff pause. The consumer price index (CPI) fell 0.1% in March, the first decline since October, the Bureau of Labor Statistics said on Thursday, April 10. Prices climbed 2.4% from March 2024, the slowest annual increase since early 2021. Wall Street was bracing for a hotter inflation report. The Dow Jones consensus estimated headline inflation to be 2.6% and core inflation to be 3%, CNBC reported. Gas…
NJ Taxpayers Face One Of Nation's Steepest Burdens, New Study Says NJ Taxpayers Face One Of Nation's Steepest Burdens, New Study Says
NJ Taxpayers Face One Of Nation's Steepest Burdens, New Study Says Taxpayers in the Northeast are carrying some of the heaviest financial burdens in the country, according to a new study unveiled ahead of the 2025 filing deadline. WalletHub released its 2025 list of tax burdens by state on Tuesday, April 1. The study compared all 50 states by analyzing how much of each state's total personal income went to property taxes, individual income taxes, and sales and excise taxes. New York has the second-highest overall tax burden in the US, only lower than Hawaii. The Empire State also ranked first for individual income tax burden, with residents hand…
Stocks Plunge, US Dollar Drops As Economists Warn Trump's Tariffs Are 'Worst Case Scenario' Stocks Plunge, US Dollar Drops As Economists Warn Trump's Tariffs Are 'Worst Case Scenario'
Stocks Plunge, US Dollar Drops As Economists Warn Trump's Tariffs Are 'Worst Case Scenario' Stocks plummeted on Wall Street and a wave of panic selling swept through global markets reacting to President Donald Trump's widespread "liberation day" tariffs. The tariff announcement sent stocks into their worst tailspin of 2025 so far and dragged the US dollar to a six-month low on Thursday, April 3. Trump unveiled the sweeping 10% tariffs on all imports and far steeper rates for key trade partners on Wednesday, April 2. By 11 a.m., the Dow Jones Industrial Average had plunged about 1,590 points, down 3.77%. The S&P 500 fell 4.35% – or about 247 points – while the Nasdaq …
Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs
Recession Odds Sharply Rise Before Trump's 'Liberation Day' Tariff Rollout: Goldman Sachs Goldman Sachs has nearly doubled the odds of a US recession, warning that President Donald Trump's sweeping new tariffs could drive up prices, slow growth, and force the Federal Reserve to cut interest rates because of higher unemployment. A recession is now 35% possible in 2025, the investment banking firm said in an economics research report published on Sunday, March 30. That's a dramatic increase from Goldman Sachs' 20% prediction made earlier in March. The increased odds come as Trump prepares to roll out sweeping new tariffs on Wednesday, April 2, which the President has dubbed "…
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey
Unemployment Fears Hit 16-Year High As Trump's Tariffs Shake Consumer Confidence: Survey Americans' concerns about rising unemployment are at their highest since the global financial crisis as President Donald Trump’s escalating tariffs and economic policies sink consumer confidence. Two-thirds of US consumers expect unemployment to increase over the next year, the University of Michigan's Surveys of Consumers said on Friday, Mar. 28. This marks the highest level of job market pessimism since 2009, reflecting widespread fears that economic uncertainty. Joanne Hsu, Michigan’s director of the surveys, said March's rising worries underscore mounting concerns across all d…
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically
Trump Slaps 25% Tariff On Foreign Cars, Trucks As Economic Fears Rise Domestically President Donald Trump has imposed a 25% tariff on all foreign-made autos, the latest in a chaotic series of tariff threats and trade war escalations that have fueled significant economic turmoil and anxiety. Trump signed an executive order to place the tariffs on cars and light trucks at the White House on Wednesday, Mar. 26. The tariffs go into effect Wednesday, Apr. 2, and the US will begin collecting duties on the following day. The measure builds on the existing 2.5% auto tariffs, which Trump has claimed would generate more than $100 billion in new annual revenue for the…
Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom
Consumer Confidence Crashes To 12-Year Low As Trump Tariffs, Rising Prices Fuel Economic Gloom Consumer confidence continued its freefall in March, tumbling to its lowest level since the early 2010s as inflation fears, President Donald Trump's rapidly changing tariff threats, and stock market pessimism weighed heavily on Americans. The Conference Board's Consumer Confidence Index fell 7.2 points in March to 92.9, the nonprofit said in a news release on Tuesday, Mar. 25. That was the lowest reading since late 2022 and well below the threshold that typically signals a looming recession. The steepest drop came in the Expectations Index, which fell 9.6 points to 65.2 — marking its l…
More Americans Have Second Jobs Than Ever: Here's Look Beyond Numbers More Americans Have Second Jobs Than Ever: Here's Look Beyond Numbers
More Americans Have Second Jobs Than Ever: Here's Look Beyond Numbers A growing number of Americans are working multiple jobs, with new federal data showing that approximately 8.9 million people now hold a second job.  This marks the highest rate since April 2009, during the Great Recession. At least 5 percent of the American workforce is now balancing multiple jobs, according to the Bureau of Labor Statistics (BLS). While inflation has slowed in recent months, financial pressures continue to drive workers toward additional employment. Rising Costs, Reduced Hours Among Key Factors Economic uncertainty, increased living expenses, and reduced work hours …
NJ Ranks Among Nation's Least-Stressed States, New Study Says: Here's Why NJ Ranks Among Nation's Least-Stressed States, New Study Says: Here's Why
NJ Ranks Among Nation's Least-Stressed States, New Study Says: Here's Why While most Americans are feeling the pressure — from rising costs to political uncertainty — residents in the Northeast and mid-Atlantic may be catching a bit of a break, according to a new study. WalletHub released its 2025 list of the most stressed states in the US on Monday, Mar. 24. The findings suggest that despite national anxieties — like inflation, job instability, and healthcare access — many in the region are experiencing less day-to-day stress than much of the country. Connecticut ranked 42nd overall, placing it among the 10 least-stressed states. The Constitution State had …