TOLEDO, Ohio — President Donald Trump once promised that coal and steel would be the beating heart of a revived U.S. economy — a nostalgic vision that helped carry him to victory three years ago in the industrial Midwest. But a year away from Election Day, that promised renaissance is...
US Economy Grew at Modest 2% Rate in 2nd Quarter
WASHINGTON — The U.S. economy grew at a modest 2% annual rate in the second quarter, a pace sharply lower than the 3%-plus growth rates seen over the past year. Many analysts believe growth will slow further in coming quarters as global weakness and rising trade tensions exert a toll....
Why 1 in 4 Americans Say They Don't Plan to Retire. Ever.
CHICAGO — Nearly one-quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals' retirement plans and the realities of aging in the workforce. Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than...
Chairman Says Fed Ready to Respond to Trade Conflicts
WASHINGTON — Chairman Jerome Powell said Tuesday the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economy, signaling the Fed will cut interest rates if necessary. Powell's comments gave a lift to stock markets, with the Dow Jones industrial average up over...
Robots Will Wipe Out Fresno Jobs. Here's What We Can Do.
The robots are here. And many more are coming, as artificial intelligence enables the automation of repetitive tasks in the manufacturing, transportation, distribution, and hospitality industries. What will the impact be on Fresno? According to a report published Thursday by the Brookings Institution, about 1 in 4 Fresno jobs is at "high...
Powell: US Economy Healthy and Rate Hikes Aren’t Automatic
WASHINGTON — Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening. Powell's comments ignited a rally on Wall Street,...
Fed Raises Rates for 3rd Time This Year With 1 More Expected
WASHINGTON — The Federal Reserve signaled its confidence Wednesday in the U.S. economy by raising a key interest rate for a third time this year, forecasting another rate hike before year's end and predicting that it will continue to tighten credit into 2020 to manage growth and inflation. The Fed...
Beneath the Surface Risks Lurk for US: Zakaria
It's easy to get mesmerized by the daily news cycle focused on President Trump's unpredictable behavior, says Washington Post columnist Fareed Zakaria. The twin dramas of journalist Bob Woodward's explosive new book and the anonymously authored New York Times op-ed that created media frenzies last week are but the latest...
Americans Harbor Doubts About Trump’s Tariffs: Poll
WASHINGTON — 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 2018 midterm elections approach. Majorities of Americans also doubt the recently announced...
Trump Claims US is 'Economic Envy of the Entire World'
WASHINGTON — President Donald Trump celebrated the release of new economic data on Friday, claiming the U.S. is now the "economic envy of the entire world." The president was responding to new growth numbers announced on Friday that show the U.S. economy surged in the April-June quarter to an annual...