Amid a broad slackening of the U.S. labor market, and in spite of campaign promises to save “Black jobs,” the unemployment rate for Black workers is surging under President Donald Trump. According to seasonally adjusted data published Friday by the Bureau of Labor Statistics (BLS), the unemployment rate for Black Americans rose from 7.2 percent…
The US Department of Labor headquarters in Washington, DC, US, on Monday, Aug. 11, 2025. Bloomberg | Bloomberg | Getty Images The White House used revised jobs data released Tuesday as fodder to criticize three frequent targets of President Donald Trump: the Bureau of Labor Statistics, former President Joe Biden and Federal Reserve Chair Jerome…
President Donald Trump‘s “big beautiful bill” raised the state and local tax deduction, known as SALT, to $40,000 for 2025. The change comes less than a decade after a cap was placed on this tax break for the first time in its history. Taxpayers who itemize tax breaks can claim the SALT deduction, which includes state and…
Containers are loaded and unloaded from cargo ships at Port Jersey Container Terminal in New Jersey, U.S., May 1, 2025. Anadolu | Anadolu | Getty Images President Donald Trump‘s trade war suffered a big setback with many of his administration’s tariffs ruled illegal by a federal appeals court last Friday. Billions of dollars in trade…
White House trade advisor Peter Navarro speaks to members of the media near the West Wing of the White House in Washington, D.C., U.S., August 21, 2025. Nathan Howard | Reuters President Donald Trump’s trade adviser Peter Navarro said Sunday that “it will be the end of the United States” if the president’s sweeping tariffs…
U.S. President Donald Trump looks on during the signing of executive orders in the Oval Office at the White House in Washington, D.C., on Aug. 25, 2025. Jonathan Ernst | Reuters President Donald Trump’s aggressive trade agenda hit a significant snag this week when a federal appeals court ruled that most of his “reciprocal tariffs”…
President Donald Trump is facing a “self-inflicted disaster” on the economy, a Nobel Prize-winning economist has said. A federal appeals court ruled on Friday that most of Trump’s tariffs were imposed unlawfully, upholding an earlier decision by the Court of International Trade. The ruling does not outlaw tariffs themselves, but found that Trump’s method—using the…
White House National Economic Adviser Kevin Hassett prepares to give a live television interview at the White House in Washington, D.C., U.S., August 4, 2025. Jonathan Ernst | Reuters President Donald Trump’s top economic adviser, Kevin Hassett, said Wednesday that Federal Reserve Board of Governors member Lisa Cook should go on leave from the central…
U.S. Treasury yields were little changed on Wednesday as investors looked ahead to a raft of economic data for the week, including a key inflation reading. At 4:35 a.m. ET, the 10-year Treasury yield was less than a basis point higher to 4.259%, while the 2-year yield was also higher by less than one basis point at…
Lisa Cook, member of the Board of Governors of the US Federal Reserve, attends a Federal Reserve Board open meeting discussing proposed revisions to the board’s supplementary leverage ratio standards at the Federal Reserve Board building in Washington, DC, on June 25, 2025. Saul Loeb | AFP | Getty Images President Donald Trump on Monday…