Economy and Jobs

During his election campaign last year, Donald Trump promised Americans he would usher in a new era of prosperity.

Now two months into his presidency, he's painting a slightly different picture.

He has warned that it will be hard to bring down prices and the public should be prepared for a "little disturbance" before he can bring back wealth to the US.

Meanwhile, analysts say the odds of a downturn are increasing, pointing to his policies.

So is Trump about to trigger a recession in the world's largest economy?

This past Thursday, President Trump did it again–and so did the financial markets. In a Truth Social post, Trump said that he would be carrying through next week on his previously delayed threat to slap 25% tariffs on Canadian and Mexican goods because (he said) these neighbors weren’t doing enough to stop drugs at the border. Then, in the oval office later, he said China would get hit with an additional 10% levy—taking the total to 20%. The market’s response was swift and unambiguous.

U.S. stocks tumbled on Monday, with concerns about the effects of President Donald Trump’s tariffs on economic growth spooking investors.

The US stock market continued to drop on Monday as the White House denied that Donald Trump’s trade policies were causing lasting chaos within the economy.

• Asked directly about the threat of a recession this year, President Trump warned there would be a "period of transition" as he renegotiates trade relationships with the help of constantly shifting tariffs.
President Donald Trump is refusing to comfort Americans worried about the effects of his tariffs policy and isn't ruling out the chance of a recession in 2025.

A key economic adviser to President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, even as a survey of American households showed consumers growing more pessimistic about their prospects, and U.S. stocks extended their slide.

In an interview with CNBC, Kevin Hassett, who heads the National Economic Council, said there were many reasons to be bullish about the U.S. economy, despite some predictions of a contraction in gross domestic product in the first quarter and concerns about inflation.

The Social Security Administration is reinstating its plan to reclaim 100% of overpayments made to beneficiaries — a ten-fold jump from the current rate, the agency announced Friday.

By asking for 100% of overpayments to be repaid by recipients, the agency could save about $7 billion over the next decade, the Office of the Chief Actuary estimated. The new rate will take effect March 27.

President Donald Trump is confident that the country’s economy has a bright future — but he isn’t ruling out a 2025 recession just yet.

“I hate to predict things like that,” Trump said when pressed about the possibility of a recession during a recorded interview that aired on “Sunday Morning Futures with Maria Bartiromo.”

Private sector job creation slowed to a crawl in February, fueling concerns of an economic slowdown, payrolls processing firm ADP reported Wednesday.

Companies added just 77,000 new workers for the month, well off the upwardly revised 186,000 in January and below the 148,000 Dow Jones consensus estimate, according to seasonally adjusted figures from ADP.

The Department of Homeland Security (DHS) says it is ending collective bargaining for Transportation Security Officers with the Transportation Security Administration (TSA). 

In a release obtained exclusively by FOX Business, DHS said the TSA has more people doing "full-time union work" rather than performing screening functions at 86% of U.S. airports.