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Economy

Trump plans to lower tariffs on Indian goods to 18% after India agreed to stop buying Russian oil

By JOSH BOAK, AAMER MADHANI and RAJESH ROY
Feb 02, 2026 1:03 pm - President Donald Trump said Monday that he plans to lower tariffs on goods from India to 18%, from 25%, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil.
Layoffs are piling up, heightening worker anxiety. Here are some of the biggest recent job cuts

By WYATTE GRANTHAM-PHILIPS
Jan 31, 2026 1:58 pm - As layoffs pile up, workers are feeling increasingly anxious about the job market. In the U.S., economists have said that businesses are largely at a “no-hire, no fire” standstill, leading many to limit new work, if not pause openings entirely amid economic uncertainty.
Warsh’s challenge: Navigating Fed independence and Trump’s demands

By CHRISTOPHER RUGABER and JOSH BOAK
Jan 30, 2026 11:36 am - Kevin Warsh has sought the job of Federal Reserve chair, off and on, since President Donald Trump first considered him for the position nearly a decade ago. Now that he is in line for the position, the enormity of the challenge ahead of him is clear.
US producer prices rose 0.5% in December, more than expected, on uptick in services inflation

By PAUL WISEMAN
Jan 30, 2026 8:20 am - U.S. wholesale prices rose a hotter-than-expected 0.5% in December.
Trump names former Federal Reserve official Warsh as the next Fed chair to replace Powell

By CHRISTOPHER RUGABER
Jan 30, 2026 8:05 am - President Donald Trump said Friday that he will nominate former Federal Reserve official Kevin Warsh to be the next chair of the Fed, a decision likely to result in sharp changes to the powerful agency that could bring it closer to the White House.
Federal Reserve keeps interest rates unchanged even as Trump continues to insist they be lowered

By CHRISTOPHER RUGABER
Jan 28, 2026 7:28 am - WASHINGTON — The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times l...
Top US trading partners pledged to invest $5 trillion in America. These researchers have doubts.

By PAUL WISEMAN
Jan 27, 2026 3:06 pm - President Donald Trump has strong-armed many of America’s biggest trading partners into pledging trillions of dollars of investment in the United States. But a study out Tuesday raises doubts about whether the money will actually materialize and questions how it would be spent if it did.
Carney rolls his eyes at US Treasury secretary, telling Trump he meant what he said at Davos

By ROB GILLIES
Jan 27, 2026 10:22 am - Canadian Prime Minister Mark Carney said Tuesday he told U.S. President Donald Trump that he meant what he said in his speech at Davos, and told him Canada plans to diversify away from the United States with a dozen new trade deals.
Trump visits Iowa trying to focus on affordability during fallout over nurse's Minneapolis shooting

By SEUNG MIN KIM and HANNAH FINGERHUT
Jan 27, 2026 8:18 am - President Donald Trump is headed to Iowa on Tuesday as part of the White House’s midterm year pivot toward affordability, even as his administration remains mired in the fallout in Minneapolis over a second fatal shooting by federal immigration officers this month.
Investments in the manufacturing workforce are key to Illinois’ economic competitiveness

By Frank Manzo IV
Jan 24, 2026 12:52 pm - As artificial intelligence, automation, and new energy sources reshape our economy, Illinois’ manufacturing sector must also evolve.

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