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Payroll Tax Delay To Boost Take-Home Pay, But Don’t Spend It Yet
By: Scott Horsley | NPR
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President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers’ paychecks. But the move is temporary, and could spark headaches in 2021.
The End Of $600 Unemployment Benefits Will Hit Millions Of Households And The Economy
By: Scott Horsley | NPR
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Millions of Americans who lost jobs during the pandemic are in danger of having their incomes cut for a second time. The sudden halt in payments would be felt in households and throughout the economy.
Red Ink Overflowing: In June, U.S. Borrows A Typical Year’s Worth
By: Scott Horsley | NPR
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The federal deficit balloons as the government tries to cushion the blow from the coronavirus pandemic. June’s shortfall totals $864 billion — more than in an entire typical year.
It’s Official: U.S. Economy Is In A Recession
By: Scott Horsley | NPR
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The committee tasked with marking U.S. business cycles says the economy peaked in February and has since been in a recession triggered by the pandemic. But it says the recession could be short-lived.
New Unemployment Claims Dip Below 2 Million In Sign Pace Of Job Losses May Be Easing
By: Scott Horsley | NPR
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The Labor Department says about 1.9 million people filed for unemployment last week, but there are some signs that people may be returning to their jobs.
‘A Lot To Be Hopeful For’: Crisis Seen As Historic, Not Another Great Depression
By: Scott Horsley | NPR
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The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.
Fed Eyes Another Interest Rate Cut To Prop Up The Slowing Economy
By: Scott Horsley | NPR
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The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
Tepid U.S. Jobs Report Adds To Economic Jitters
By: Scott Horsley | NPR
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The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.
Trump Dismisses Recession Fears, Says Fed Must Help The Economy
By: Scott Horsley | NPR
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The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
Trump Administration Delays Some China Tariffs
By: Scott Horsley | NPR
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The Trump administration is postponing some tariffs on Chinese imports set to take effect on Sept.1. Tariffs on laptops, cellphones, some clothing and other items are now set to begin Dec. 15.
Trump Taps Health Care Expert As Acting Top White House Economist
By: Scott Horsley | NPR
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President Trump had been expected to nominate Tomas Philipson as permanent chair of his Council of Economic Advisers. Philipson, an expert on health economics, succeeds Kevin Hassett.
Fed Chairman Powell Hints At Interest Rate Cut; Stocks Rally
By: Scott Horsley | NPR
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The Federal Reserve chairman is testifying before Congress this week about challenges the economy faces. Stocks rallied in anticipation the central bank will lower interest rates later this month.
Hiring Rebounds In June As Employers Add 224,000 Jobs
By: Scott Horsley | NPR
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Job growth rebounded strongly last month as employers added 224,000 jobs. That followed a disappointing May when employers added just 72,000 jobs.
Fed Ponders When To Cut Interest Rates
By: Scott Horsley | NPR
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There’s an unusual air of suspense surrounding the Federal Reserve’s policy meeting, with the possibility that the central bank could cut rates for the first time in nearly 11 years.
Food Fight: Trump Administration Levels Tariffs On Mexican Tomatoes
By: Scott Horsley | NPR
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Under pressure from Florida lawmakers, the Trump administration is taking steps to protect domestic tomato growers from Mexican competition.
U.S. Economy Powers Ahead In First Quarter: 3.2% Growth
By: Scott Horsley | NPR
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The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,
Government Watchdog Flips On Dollar Coin
By: Scott Horsley | NPR
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In a turnaround, congressional analysts are no longer recommending a phaseout of paper dollars in favor a dollar coin. Paper money is lasting longer because of cashless transactions.
U.S. Jobs Rebound To Solid Growth; Unemployment Holds At 3.8 Percent
By: Scott Horsley | NPR
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Employers added 196,000 jobs in March, bouncing back from February’s weak growth, the Labor Department said Friday. The jobless rate was unchanged at nearly 50-year lows.
It’s Not Just Avocados. Closing Mexico Border Would Hit U.S. Auto Plants Too
By: Scott Horsley | NPR
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President Trump has threatened to close the U.S. border with Mexico in response to a large number of illegal crossings. A closure would likely hit a wide range of industries, from produce to autos.
Fed Signals Rate Hikes May Be Over For 2019
By: Scott Horsley | NPR
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The Federal Reserve left interest rates unchanged Wednesday and signaled that no more rate hikes may be necessary this year amid signs of economic slowing.
Trump Vetoes Congressional Effort To Limit Border Wall Funding
By: Scott Horsley | NPR
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President Trump used his veto pen for the first time Friday. GOP senators who bucked the president in Thursday’s vote said they did so to preserve congressional control over government spending.
Trump Seeks More Border Wall Funding In New Budget
By: Scott Horsley | NPR
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President Trump’s 2020 budget proposal, released on Monday, calls for $8.6 billion in new border wall funding, along with increased military spending and deep cuts to domestic programs.
Trump Suspends China Tariff Hike, Citing Progress In Trade Talks
By: Scott Horsley | NPR
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President Trump has suspended a planned increase in tariffs on hundreds of billions of dollars in Chinese imports, after what he called “very productive” trade talks in Washington this weekend.
Help Wanted: White House Chief Of Staff
By: Scott Horsley | NPR
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President Trump is hunting for his third chief of staff in less than two years. So far, he is not finding many takers. “You have to wonder who would want to take this job,” said one scholar.
Former President George H.W. Bush Dies At 94
By: Marcus Rosenbaum | NPR, Scott Horsley | NPR
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The patriarch of a political dynasty, Bush was the last World War II vet to serve in the Oval Office. His son George W. called him “one of the greatest one-term presidents in the nation’s history.”