Articles written by josh boak
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Fed chief struggles to manage a wild card: Trump trade wars
WASHINGTON (AP) — After the Federal Reserve cut interest rates Wednesday for the first time in a decade, Chairman Jerome Powell made a striking acknowledgement: In the Trump era, the Fed faces a steep learning curve. The Fed is supposed to set i...
July US jobs report shows solid gains amid trade frictions
WASHINGTON (AP) — U.S. employers slowed their hiring in July but still added a solid 164,000 jobs to an economy that appears poised to extend its decade-long expansion. The unemployment rate remained at 3.7% for a second straight month, the g...
AP FACT CHECK: Trump challenges Fed with dubious theory
WASHINGTON (AP) — President Donald Trump is flipping interest-rate theory on its head as he tries to blame the Fed for holding back growth. Trump went after the Federal Reserve on Friday after advancing a dubious argument this week that b...
Insider Q&A: Joseph Stiglitz touts 'progressive capitalism'
WASHINGTON (AP) — Many of the economic policies being pitched by Democratic presidential candidates are rooted in the ideas pioneered by Joseph Stiglitz, a Nobel Prize-winning economist who teaches at Columbia University. In his new book "People, P... Full story
US adds solid 224,000 jobs, making Fed rate cut less certain
WASHINGTON (AP) — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion. The strength of the jobs report the government issued Friday coul...
AP-NORC Poll: Trump not boosted by strong American economy
WASHINGTON (AP) — The solid economy is doing little to bolster support for President Donald Trump. Americans give Trump mixed reviews for his economic stewardship despite the growth achieved during this presidency, according to a new survey by The A...
AP FACT CHECK: Trump falsely accuses Mueller of a crime
WASHINGTON (AP) — President Donald Trump on Wednesday falsely accused special counsel Robert Mueller of deleting messages that would support the president's contention that the Russia investigation was out to get him. The provocative allegation of a...
AP FACT CHECK: Trump sugar-coats a trade war with China
WASHINGTON (AP) — President Donald Trump let loose with a morning round of tweets that sugar-coat the consequences of his trade war with China. Trump minimized the worth of China's purchases of U.S. goods and services, which support nearly 1 m...
A record-breaking US trade deficit: Does it really matter?
WASHINGTON (AP) — The U.S. trade deficit reached its highest sum ever last year, defying President Donald Trump's efforts and promises to shrink it through his economic policies. The irony is that those policies likely contributed to the deficit. T...
AP FACT CHECK: Trump plays on immigration myths
WASHINGTON (AP) — President Donald Trump has long railed against immigration as a scourge on the economy and national security. He's committed his administration to starting construction on a wall along the Mexican border to stop illegal i...
Economy likely to pick up, though pain may linger for some
BALTIMORE (AP) — The U.S. economy will likely resume its steady growth now that the government has reopened, though economists say some scars — for the nation and for federal workers — will take time to heal. Most analysts estimate that the 35-da...
Trump's push for tariffs squeezes a weakening global economy
NEW YORK (AP) — The global economy was already showing signs of a slowdown when President Donald Trump reminded the world of his love of tariffs and sent a chill through financial markets. "I am a Tariff Man," Trump announced Tuesday to signal his d...
AP FACT CHECK: 'Tariff Man' Trump wrong on import taxes
WASHINGTON (AP) — President Donald Trump promised on Twitter that tariffs would maximize the country's economic heft and "MAKE AMERICA RICH AGAIN." Almost all economists say the president is wrong. That's because tariffs are taxes on imports. They c...
Darkening clouds start to overhang global economic expansion
WASHINGTON (AP) — After galloping along for the past two years, the global economy is showing signs of weakening, with the United States, China and Europe all facing the rising threat of a slowdown. Few economists foresee an outright global r...
With split Congress, prospect for economic deals looks dim
WASHINGTON (AP) — President Donald Trump floated the idea Wednesday of partnering with the newly Democratic-led House on two ideas that could prove popular with voters: Increasing spending on America's infrastructure and limiting drug prices. Yet t...
For some, a vibrant US economy complicates voting decision
EXTON, Pennsylvania (AP) — For many voters in America's affluent suburbs, a flourishing economy is forcing a thorny dilemma for the midterm elections. Do they vote Democratic, in part to protest President Donald Trump for behavior some see as d...
Progress? Gridlock? How midterm vote could affect US economy
WASHINGTON (AP) — President Donald Trump has warned that if Democrats regain political power in the midterm elections, the U.S. economy would essentially implode. Democrats, he insists, would push tax hikes and environmental restrictions that s...
Higher rates both a sign of US economic might and risk to it
WASHINGTON (AP) — This week's dizzying sell-offs in the financial markets have been a rude reminder that the U.S. economy is no longer relying on ultra-low interest rates to fuel growth. Borrowing costs are rising for companies, homebuyers and the U...
As joblessness falls, skilled workers might be hard to find
Are America's employers at risk of running out of skilled people to hire? The U.S. economy has become a seemingly perpetual job-generating machine, having steadily added workers for nearly eight years. Even with the unemployment rate now at 3.7 perce...
US industrial production rose a solid 0.4 percent in August
WASHINGTON (AP) — U.S. industrial production rose by a healthy 0.4 percent in August, boosted by gains in the production of autos, oil and natural gas. The Federal Reserve said Friday that industrial production, which includes output at factories, m...
Trump: Ready to tax an additional $267B in Chinese imports
WASHINGTON (AP) — President Donald Trump said Friday that he's prepared to impose tariffs on an additional $267 billion in Chinese imports. Such a step would significantly escalate his trade war with Beijing and would likely increase costs for a b...
Details of the preliminary US-Mexico trade deal, at a glance
WASHINGTON (AP) — When President Donald Trump celebrated on Monday the workings of a new deal with Mexico that would replace the North American Free Trade Agreement, numerous questions were left unsettled. No full text has yet been provided. On F...
AP-NORC Poll: Americans not enthused with Trump trade policy
WASHINGTON (AP) — Fewer than half of Americans expect President Donald Trump's tariffs to do much to help the U.S. economy, but their widespread unpopularity hasn't led most Republicans to stray from supporting the president's trade policy as the 2...
Consumer prices up 2.9 pct, leaving Americans worse off
WASHINGTON (AP) — Consumer prices climbed 2.9 percent in July from a year earlier, a rate of inflation that suggests Americans are earning less than a year ago despite an otherwise solid economy. The Labor Department said Friday that the consumer pri...
Trump claims US is 'economic envy of the entire world'
WASHINGTON (AP) — President Donald Trump on Friday celebrated the release of new economic data, claiming the U.S. is now the "economic envy of the entire world." Trump was responding to new growth numbers announced on Friday that show the U.S. e...
