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It’s been just over a year since President Donald Trump returned to the White House. In that time, he’s moved at a breakneck pace to enact his campaign promises, rolling back environmental regulations and protections, overturning national vaccine guidance and health policy, executing full-forced immigration raids in cities like Minneapolis and Chicago, and, more recently, undertaking a bid to control Greenland, a semiautonomous region of Denmark, a NATO ally.

But perhaps more than anywhere else, Trump’s return to office has been felt in the economic sector.

Through executive power and with a Republican-controlled Congress on his side, the second-term president has implemented far-reaching economic changes, from levying steep tariffs on U.S. trading partners to slashing funding for federal programs and Democratic-run states. In response, the stock market has careened and then recovered to historic heights, home sales hit a 30-year low, and the labor market remains sluggish.

Now January inflation data is here, and we’re getting a glimpse at how that economic policy is affecting Americans’ pocketbooks everywhere from the grocery store to the gas pump. read more

By PAUL WISEMAN, AP Economics Writer

WASHINGTON (AP) — President Donald Trump still has options to keep taxing imports aggressively even after the Supreme Court struck down the tariffs he imposed last year on nearly every country on earth.

The Justices didn’t buy the president’s sweeping claims of authority to impose tariffs as he sees fit. But Trump can reuse tariff powers he deployed in his first term and can reach for others, including one that dates back to the Great Depression.

“Their decision is incorrect,” Trump said Friday, calling the Supreme Court justices who ruled against his tariffs “fools and lapdogs” during a press conference. “But it doesn’t matter because we have very powerful alternatives.”

Indeed, the president has already said he will impose a 10% global tariff under a trade law that allows such duties for 150 days. After that, they can only be extended by Congress.

Trump also said he would use a range of other laws and regulations to impose new tariffs, though most of those statutes would require a legal process before duties could be imposed. And he pointed to his ability to use licenses to restrain imports, but offered few details. read more

By LINDSAY WHITEHURST, Associated Press

WASHINGTON (AP) — The Supreme Court struck down President Donald Trump’s far-reaching global tariffs on Friday, handing him a stinging loss that sparked a furious attack on the court he helped shape.

Trump said he was “absolutely ashamed” of some justices who ruled 6-3 against him, calling them “disloyal to our Constitution” and “lapdogs.” At one point he even raised the specter of foreign influence without citing any evidence.

The decision could have ripple effects on economies around the globe after Trump’s moves to remake post-World War II trading alliances by wielding tariffs as a weapon.

But an unbowed Trump pledged to impose a new global 10% tariff under a law that’s restricted to 150 days and has never been used to apply tariffs before.

“Their decision is incorrect,” he said. “But it doesn’t matter because we have very powerful alternatives.”

The court’s ruling found tariffs that Trump imposed under an emergency powers law were unconstitutional, including the sweeping “reciprocal” tariffs he levied on nearly every other country. read more

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Financial planners often say you can pull two basic levers to improve your financial life: earn more money or spend less.

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For people trying to grow their net worth, earning more than one paycheck might seem like the best path forward.

According to Fiverr’s Next Gen of Work survey, 67% of Gen Zers say that having two or more income streams, or “income stacking,” is essential for financial security. read more

By CHRISTOPHER RUGABER and MATT OTT, AP Economics Writers

WASHINGTON (AP) — U.S. economic growth slowed in the final three months of last year, dragged down by the six-week shutdown of the federal government and a pullback in consumer spending.

The nation’s gross domestic product — the total output of goods and services — increased at a 1.4% annual rate in the fourth quarter, the Commerce Department reported Friday, down from 4.4% in the July-September quarter and 3.8% in the quarter before that.

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The figures point to a more modest pace of growth in the coming quarters, as consumers take on more debt and cut back on saving to maintain their spending. Business investment, outside data centers and other equipment dedicated to artificial intelligence, grew at only a moderate pace. read more