New Rochelle, NY
Business
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 "…

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by Chris Spiker
Ossining, NY
News
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…

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by Chris Spiker
Arlington, VA
News
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…

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by Chris Spiker
Hartford, CT
Business
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…

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by Chris Spiker
Middletown, CT
News
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 …

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by Joe Lombardi
Cambridge, MA
News
MA Ranks Among Nation's Least-Stressed States, New Study Says: Here's Why MA Ranks Among Nation's Least-Stressed States, New Study Says: Here's Why
MA 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 …

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by Chris Spiker
Chambersburg, PA
News
Egg Smuggling Soars As US Prices Spike, Fentanyl Seizures Drop: CBP Egg Smuggling Soars As US Prices Spike, Fentanyl Seizures Drop: CBP
Egg Smuggling Soars As US Prices Spike, Fentanyl Seizures Drop: CBP U.S. Customs and Border Protection (CBP) is cracking down on a surprising contraband at the border—eggs. Egg-related seizures have surged 116% in the first two months of 2025 compared to the same period last year, with officials reporting 3,254 interceptions, according to CBP data. The spike comes as U.S. egg prices continue to soar, driven by a historic avian flu outbreak decimating poultry farms nationwide. Meanwhile, fentanyl seizures have fallen 32% year-over-year. While President Donald Trump has vowed to curb fentanyl trafficking, the more immediate smuggling crisis appears to be brea…

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by Jillian Pikora
Hartford, CT
Business
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…

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by Chris Spiker
Hartford, CT
Business
Consumer Confidence Falls To 2022 Lows Amid Tariff Worries, Affordability Crisis: Survey Consumer Confidence Falls To 2022 Lows Amid Tariff Worries, Affordability Crisis: Survey
Consumer Confidence Falls To 2022 Lows Amid Tariff Worries, Affordability Crisis: Survey Consumer confidence plunged in March, hitting its lowest level since 2022 as lingering inflation, a slowing job market, and economic uncertainty weigh on Americans. The preliminary consumer sentiment index dropped to 57.9 in March, down 10.5 percent from February, a survey from the University of Michigan said on Friday, Mar. 14. It marks the lowest reading since November 2022 and 27.1 percent lower than March 2024. The decline marks the third consecutive month of falling confidence, with all age groups, income levels, and political backgrounds reporting a more negative outlook. "…

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by Chris Spiker
Arlington, VA
Business
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns Consumer prices rose slightly less than expected in February, but President Donald Trump's escalating trade wars and a declining labor market are keeping economic uncertainty high. Inflation increased 0.2 percent in February and 2.8 percent over the past year, according to new Bureau of Labor Statistics data released on Wednesday, Mar. 12. The yearly inflation number remained well above the Federal Reserve's two-percent target. The monthly increase was smaller than January's jump of 0.5 percent. February's figures were also a little lower than Dow Jones expectations, CNBC reported. Co…

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by Chris Spiker
Norwalk, CT
News
Grocery Shoppers Pivot As Inflation Reshapes Spending Grocery Shoppers Pivot As Inflation Reshapes Spending
Grocery Shoppers Pivot As Inflation Reshapes Spending As inflation continues to strain household budgets, consumers are scaling back purchases of both name-brand and private-label snacks and drinks.  TreeHouse Foods, a leading manufacturer of private-label products for major retailers like Walmart and Trader Joe’s, is now feeling the pinch, according to a report by The Wall Street Journal.  After initially benefiting from consumers shifting toward budget-friendly options, TreeHouse is now seeing slower sales growth as rising costs for essentials like coffee and eggs impact spending, the outlet said. Once a growth driver, private-lab…

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by Joe Lombardi
Roseland-Essex Fells, NJ
Business
Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy
Private Job Growth Hits Lowest Point In Months As Trump's Trade Wars Shake Economy Job growth in the private sector slowed to its weakest pace in seven months, as hiring lags amid economic uncertainty and rising trade tensions, according to new data. Private employers added just 77,000 jobs in February, the ADP said in its National Employment Report released on Wednesday, Mar. 5. That number marks the smallest job growth since July 2024 and was down sharply from January's revised total of 186,000. February's data is the latest in a wave of troubling economic indicators during the first two months of President Donald Trump's return to office. "Policy uncertainty…

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by Chris Spiker