Josh Boak, Author at The Rapid City Post

FILE - Construction equipment is seen near new homes on July 11, 2025, in Happy Valley, Ore. (AP Photo/Jenny Kane, File)

Voters are worried about the cost of housing. But Trump wants home prices to keep climbing

February 8, 2026

The White House is trying to show it’s lowering the cost of living, but President Donald Trump has said he doesn’t want to see the price of homes come down. He wants to keep values high. That’s something in the interest of existing homeowners and they’re a key part of his political base. And older voters tend to show up to vote more than do younger people, so Trump’s position on housing could be a factor in the November elections. But Trump’s aversion to policies that would expand housing supply and lower prices risks alienating younger voters and could hurt the chances for his Republican Party to expand its voting base.

President Donald Trump walks on the South Lawn upon his arrival to the White House, Sunday, Feb. 1, 2026, in Washington. (AP Photo/Jose Luis Magana)

Trump administration to create a strategic reserve for rare earths elements

February 2, 2026

The Trump administration plans to deploy nearly $12 billion to create a strategic reserve of rare earth elements. This stockpile could counter China’s dominance in these metals, which are crucial for various industries. The White House confirmed “Project Vault” on Monday. It would be funded by a $10 billion loan from the US Export-Import Bank and $1.67 billion in private capital. The reserve aims to protect manufacturers from supply chain disruptions. China controls about 70% of the world’s rare earths mining and 90% of processing, giving it significant leverage in trade talks.

Hiring sign is displayed at a grocery store in Arlington Heights, Ill., Wednesday, Dec. 24, 2025. (AP Photo/Nam Y. Huh)

Trump nominates government economist to lead Bureau of Labor Statistics

January 30, 2026

President Donald Trump says he is nominating the government economist Brett Matsumoto to lead the Bureau of Labor Statistics. Trump previously accused the federal agency of releasing low monthly jobs numbers in order to make him look bad. There is no evidence that the Bureau of Labor Statistics sought to undermine Trump with its data releases. Matsumoto has worked as a supervisory research economist at BLS and has been serving as a senior economist for the White House Council of Economic Advisers.

FILE - Kevin Warsh, speaking to the media about his report on transparency at the Bank of England, in London, Dec., 11, 2014. (AP Photo/Alastair Grant, Pool, File)

Who is Kevin Warsh?

January 30, 2026

President Donald Trump says he’ll tap former Federal Reserve governor Kevin Warsh as the next Fed chair to replace Jerome Powell in May. The appointment, which requires Senate confirmation, amounts to a return trip for Warsh, 55, who was a member of the Fed’s board from 2006 to 2011. He was the youngest governor in history when he was appointed at age 35. He is currently a fellow at the right-leaning Hoover Institution and a lecturer at the Stanford Graduate School of Business. Prior to serving on the Fed’s board in 2006, Warsh was an economic aide in George W. Bush’s Republican administration and was an investment banker at Morgan Stanley.

Things are unloaded from Air Force One after the plane, carrying President Donald Trump to the World Economic Form in Davos, experienced a minor electrical issue after departure, Tuesday, Jan. 20, 2026, and returned to Joint Base Andrews, Md. Trump will board a second plane to complete the trip. (AP Photo/Evan Vucci)

Air Force One returns to Washington area due to minor electrical issue, White House says

January 20, 2026

President Donald Trump’s plane, Air Force One, has safely returned to Joint Base Andrews about an hour after departing for Switzerland on Tuesday evening. White House press secretary Karoline Leavitt says the decision to return was made after takeoff when the crew aboard Air Force One identified “a minor electrical issue” and, out of an abundance of caution, decided to turn around. Trump will board another aircraft and continue on with his trip to the World Economic Forum in Davos. The two planes currently used as Air Force One have been flying for nearly four decades. Boeing has been working on replacements, but the program has faced a series of delays.

Surrounded by billionaires in Davos, Trump plans to lay out how he’ll make housing more affordable

January 19, 2026

On the anniversary of his inauguration, President Donald Trump is heading to the World Economic Forum in Davos, an annual gathering of the global elite. He plans to use a key address there Wednesday to lay out his plans to make housing more affordable. The Swiss mountain town, where ski chalets go for $4.4 million, is a strange backdrop for the speech. But Trump — who has spent a lot of time surrounded by billionaires during his first year back in the White House — is counting on wealthy business leaders to create economic growth. However, headlines about Trump’s push to acquire Greenland threaten to overshadow his proposals.

President Donald Trump waves as he walks off stage after speaking to House Republican lawmakers during their annual policy retreat, Tuesday, Jan. 6, 2026, in Washington. (AP Photo/Evan Vucci)

Trump meets with oil executives at the White House on Friday, seeking investments in Venezuela

January 9, 2026

President Donald Trump is meeting with oil executives at the White House on Friday. He hopes to secure $100 billion in investments to revive Venezuela’s oil industry. The goal rides on the executives’ comfort with investing in a country facing instability and inflation. Since a U.S. military raid captured former Venezuelan leader Nicolás Maduro on Saturday, Trump has said there’s a new opportunity to use the country’s oil to keep gasoline prices low. The meeting is set for 2:30 p.m., and is currently set to occur behind closed doors. The full list of executives has not been disclosed, but Chevon, ExxonMobil and ConocoPhillips are expected to attend.

President Donald Trump speaks to House Republican lawmakers during their annual policy retreat, Tuesday, Jan. 6, 2026, in Washington. (AP Photo/Evan Vucci)

Trump says he wants to ban large investors from buying houses. It’s part of his affordability plan

January 7, 2026

President Donald Trump says he wants to block large institutional investors from buying houses, saying that a ban would make it easier for younger families to buy their first homes. The president is under pressure to address voters’ concerns about affordability ahead of November midterm elections. The ban would tap into long-standing fears that corporate ownership of homes pushes out traditional buyers, forcing more people to rent. But the overarching challenge for the housing market has been a shortage of home construction — and prices that have climbed faster than incomes. The president said he would discuss the issue further in his speech at the World Economic Forum in Davos, Switzerland in two weeks.

President Donald Trump speaks during a Mexican Border Defense Medal presentation in the Oval Office of the White House, Monday, Dec. 15, 2025, in Washington. (AP Photo/Alex Brandon)

Trump is previewing his 2026 agenda in an address to the nation as his popularity wanes

December 17, 2025

President Donald Trump plans to give a preview of his 2026 agenda in a speech at the White House. Wednesday night’s remarks come as Trump’s popularity erodes. Polls show most U.S. adults are frustrated with Trump’s handling of the economy. The Republican president’s mass deportations of immigrants are also unpopular. The president and his party are less than a year away from midterm elections that will decide control of the House and the Senate. Trump has said he thinks more Americans would back him if they heard more about what he sees as his accomplishments. Trump delivers his address to the nation at 9 p.m. Eastern.

President Donald Trump speaks with Elon Musk and Nvidia CEO Jensen Huang, during the Saudi Investment Forum at the Kennedy Center, Wednesday, Nov. 19, 2025, in Washington. (AP Photo/Evan Vucci)

Trump approves sale of more advanced Nvidia computer chips used in AI to China

December 8, 2025

President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.

FILE - President Donald Trump answers questions from reporters as he meets with Congo's Foreign Minister Therese Kayikwamba Wagner, and Rwanda's Foreign Minister Olivier Nduhungirehe, Friday, June 27, 2025, in the Oval Office at the White House in Washington. (AP Photo/Manuel Balce Ceneta, File)

Trump to visit Pennsylvania to highlight efforts to curb inflation as high prices squeeze Americans

December 4, 2025

President Donald Trump plans to visit Pennsylvania next week to highlight his efforts to reduce inflation. Last month’s elections showed a shift away from Republicans as affordability concerns persist. Trump argues that affordability worries are a Democratic “hoax” and that people need to hear his perspective to change their minds. It shows the dilemma faced by Trump as he tries to take credit for rewiring the U.S. economy with his large tariff hikes and extension of income tax cuts while blaming Biden for the increase nationwide in inflation rates under Trump’s watch. Inflation is currently tracking at 3% annually, up from 2.3% in April when he rolled out his tariffs.

The White House is seen from the National Mall, Friday, Nov. 28, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)

Trump commutes prison sentence for former private equity executive David Gentile

November 30, 2025

President Donald Trump has commuted the prison sentence of a former investment manager convicted of defrauding investors. It’s the latest in a series of clemency actions Trump has taken in white-collar criminal cases. David Gentile had been convicted for his role in what the Justice Department at the time described as a scheme to defraud investors. His firm had raised $1.6 billion to acquire companies. The White House said the firm had disclosed to investors that their capital might go to pay dividends to other investors — undercutting claims that it had engaged in a “Ponzi” scheme in which new investments are used to reimburse previous investors.

Travelers wait in the main hall of the Simon Bolivar Maiquetia International Airport in Maiquetia, Venezuela, Sunday, Nov. 23, 2025, after several international airlines canceled flights following a warning from the U.S. Federal Aviation Administration about a hazardous situation in Venezuelan airspace. (AP Photo/Ariana Cubillos)

Trump says Venezuela’s airspace should be viewed as closed. It’s not clear what that means

November 29, 2025

President Donald Trump is saying the airspace “above and surrounding” Venezuela should be considered as “closed in its entirety.” It an assertion made on social media Saturday that raises more questions about the U.S. pressure on Venezuelan leader Nicolás Maduro. The White House isn’t responding to questions about what Trump meant by his post. The Federal Aviation Administration’s jurisdiction is generally limited to the United States and its territories. The agency does routinely warn pilots about the dangers of flying over areas with ongoing conflicts or military activity around the globe, as it did earlier this month with Venezuela.

FILE - Former Honduran President Juan Orlando Hernandez, second from right, is taken in handcuffs to a waiting aircraft as he is extradited to the United States, at an Air Force base in Tegucigalpa, Honduras, April 21, 2022. (AP Photo/Elmer Martinez, File)

Trump says he plans to pardon former Honduran President Hernandez for 2024 drug trafficking sentence

November 28, 2025

President Donald Trump said Friday that he will be pardoning former Honduran President Juan Orlando Hernandez, who in 2024 was convicted for drug trafficking and weapons charges and sentenced to 45 years in prison. The president explained his decision on social media by posting that “according to many people that I greatly respect,” Hernandez was “treated very harshly and unfairly.” Hernandez had been convicted last year in the U.S. of conspiring to import cocaine and two weapons counts. He had served two terms as the leader of the Central American nation of roughly 10 million people.

President Donald Trump speaks to reporters after speaking to troops via video from his Mar-a-Lago estate on Thanksgiving, Thursday, Nov. 27, 2025, in Palm Beach, Fla. (AP Photo/Alex Brandon)

Trump says he wants to ‘permanently pause’ migration to the US from poorer countries

November 28, 2025

President Donald Trump says he wants to “permanently pause migration” from poorer nations and is promising to seek to expel millions of immigrants from the United States by revoking their legal status. He’s blaming immigrants for problems from crime to housing shortages as part of “social dysfunction” in America and demanding “REVERSE MIGRATION.” The comment came late Thursday in his most severe social media post against immigration since returning to the Oval Office in January. A day earlier, two National Guard members who were patrolling the streets of the nation’s capital under his orders were shot. A 29-year-old Afghan national who worked with the CIA during the Afghanistan War is facing charges

People walk by a large screen TV where South African President Cyril Ramaphosa holds a wooden gavel as he officially closes the G20 leaders' summit, in Johannesburg, South Africa, Sunday, Nov. 23, 2025. (AP Photo/Jerome Delay)

Trump says he’s barring South Africa from participating in next year’s G20 summit near Miami

November 27, 2025

President Donald Trump says he’s barring South Africa from participating in the Group of 20 summit next year near Miami. He also says he’ll “stop all payments and subsidies” to the country over its treatment of a U.S. government representative at this year’s global meeting. Trump chose not to have an American delegation attend the recent summit hosted by South Africa. He said he did so because white Afrikaners were being violently persecuted. It’s a claim that South Africa, which was mired for decades in racial apartheid, has rejected as baseless. South Africa says Trump’s statement is “regrettable.”

Trump’s economy depends on AI for growth, a reality made clear in Saudi crown prince’s US visit

November 19, 2025

President Donald Trump is counting on the tech sector and artificial intelligence to drive his economic agenda. This week, he hosted Saudi Arabia’s Crown Prince Mohammed bin Salman, who has pledged to invest $1 trillion with U.S. companies. The crown prince is focused on using Saudi Arabia’s energy resources to turn it into an AI data hub. But there are growing political risks for Trump if the AI buildout further pushes up utility prices for American consumers or if the jobs he promises in the sector fail to materialize.

President Donald Trump waves as he walks to board Marine One, Friday, Nov. 14, 2025, on the South Lawn of the White House, in Washington for a trip to Palm Beach, Fla. (AP Photo/Allison Robbert)

New analysis shows more US consumers are falling behind on their utility bills

November 17, 2025

A new analysis of consumer data shows that more people in the United States are falling behind on their utility bills. Past-due balances jumped 9.7% in the second quarter over the same period last year, according to the Century Foundation, the left-leaning think tank that did the study. The study comes as President Donald Trump has been promoting the buildout of the AI industry — a sector that uses a lot of electricity. And voters have also said they’re worried about the high cost of living. The foundation says nearly 6 million households have utility debt “so severe” that it will soon be reported to collection agencies.

FILE - President Donald Trump holds a chart as he discusses the economy in the Oval Office of the White House, Aug. 7, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)

The ‘eerily similar’ ways how Trump and Biden tried to ease anger about the high cost of living

November 15, 2025

President Donald Trump’s problems with fixing the high cost of living might be giving voters a feeling of déjà vu. Just like President Joe Biden, Trump says lower prices are just around the corner. But Biden-era officials say that argument doesn’t work with impatient voters. Republicans pushed the case that Biden’s policies made inflation worse. Democrats are using that same framing today. They say Trump’s tariffs are getting passed along to consumers in the form of higher prices and that mass deportations have made the construction of homes more expensive. Trump says Republicans need to do a better job explaining his policies. But he also blames Biden for the economic problems.

FILE - Rep. Marjorie Taylor-Greene, R-Ga., presides over a House Committee hearing on Capitol Hill, Feb. 12, 2025, in Washington. (AP Photo/Rod Lamkey, Jr., File)

Trump says Rep. Marjorie Taylor Greene has ‘lost her way’ for criticizing his foreign policy focus

November 10, 2025

President Donald Trump on Monday pushed back on criticism from Georgia Congresswoman Marjorie Taylor Greene that he is spending too much time on foreign affairs and not enough on inflation. Trump told reporters his Republican ally has “lost her way.” The dispute reflects a fundamental challenge within Trump’s coalition after last week’s elections, in which the high cost of living was a top concern for voters in the New Jersey and Virginia governor races. Trump maintains that inflation has been defeated. But Greene says grocery prices remain too high and the president needs to focus on that rather than his recent emphasis on foreign affairs.

President Donald Trump speaks during an event about drug prices, Thursday, Nov. 6, 2025, in the Oval Office of the White House in Washington. (AP Photo/Evan Vucci)

Trump is ramping up a new effort to convince a skeptical public he can fix affordability worries

November 6, 2025

Expect to hear President Donald Trump talk a lot about affordability in coming months. The White House is adjusting its messaging strategy after voters in this week’s elections said the economy was their biggest concern. Trump says his team is doing a “great job on affordability,” promoting a new plan to lower the cost of anti-obesity drugs. But data shows prices for groceries and electricity bills are climbing. Part of the plan will be a push to educate people ahead of tax season about new tax cuts. The White House also hopes the Federal Reserve will do more to cut interest rates.

President Donald Trump waves as he walks to board Marine One before departing from the South Lawn of the White House, Friday, Oct. 17, 2025, in Washington. (AP Photo/Alex Brandon)

Trump offers US automakers additional relief from his tariffs

October 17, 2025

President Donald Trump is giving domestic automakers some relief from his tariffs. He’s extending a special rebate on auto parts until 2030. Tariffs on those parts had threatened to raise costs for automakers. The exemption was originally supposed to be a short-term bridge to give automakers time to move production lines back to the U.S. Trump also officially signed a proclamation that imposes 25% import taxes on medium and heavy duty trucks.

FILE - President Donald Trump speaks during an event to announce new tariffs, April 2, 2025, in the Rose Garden at the White House in Washington. (AP Photo/Mark Schiefelbein, File)

Trump says the US has secured $17 trillion in new investments. The real number is likely much less

October 6, 2025

President Donald Trump claims his policies have generated $17 trillion in new investments, but the real number is likely much less. The White House website only lists $8.8 trillion, though even that number appears to be padded with investment commitments made during Joe Biden’s presidency. The White House didn’t lay out the math after multiple requests as to how Trump calculated $17 trillion. But the issue goes beyond Trump’s hyperbolic talk to his belief that the brute force of tariffs and shaming of companies can deliver economic results. That bet could go sideways for him politically if the tough talk fails to translate into more jobs and higher incomes.

The U.S. Capitol is seen on the second day of the government shutdown, in Washington, Thursday, Oct. 2, 2025. (AP Photo/J. Scott Applewhite)

Government shutdown enters fifth day as Democrats and Republicans remain at an impasse

October 5, 2025

Washington lawmakers remain at a standstill over reopening the government, showing few signs of progress. Both parties believe public opinion supports their stance, with Democrats pushing for health insurance subsidies and President Donald Trump aiming to maintain current spending levels. The shutdown adds to economic uncertainty, with hiring slowing and inflation high. House Democratic leader Hakeem Jeffries on Sunday criticized Republicans for not negotiating. Trump was confident but vague, claims cost-cutting success. The Trump administration sees the shutdown as a chance to cut federal jobs. Talks remain unproductive, with a Senate vote failing to advance a Republican bill.

The USS George H.W. Bush aircraft carrier sails in the Atlantic Ocean off the coast of Norfolk, Va., Saturday, Oct. 4, 2025. (AP Photo/Alex Brandon, Pool)

Trump will celebrate the Navy’s 250th anniversary in the midst of the shutdown

October 5, 2025

President Donald Trump is set to mark the Navy’s 250th anniversary by joining a celebration at Naval Station Norfolk in Virginia. His appearance later Sunday comes in the midst of the government shutdown. The Republican president said in a social media post Friday night that he believes the show must go on despite the impasse in Washington. The shutdown that began Wednesday has sparked a series of partisan blame games. Meantime, military personnel are working without pay. Scheduled to join Trump at the event are first lady Melania Trump, Defense Secretary Pete Hegseth and Navy Secretary John Phelan.

President Donald Trump walks out to greet Turkish President Recep Tayyip Erdogan at the White House, Thursday, Sept. 25, 2025, in Washington. (AP Photo/Alex Brandon)

Trump to put import taxes on kitchen cabinets, furniture and heavy trucks starting next week

September 25, 2025

President Donald Trump said Thursday that he will put import taxes of 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on Oct. 1. Trump said on his social media site that foreign manufacturers of furniture and cabinetry were flooding the United States with their products and that tariffs must be applied “for National Security and other reasons.” Trump said that foreign-made heavy trucks and parts are hurting domestic producers.

President Donald Trump addresses the 80th session of the United Nations General Assembly, Tuesday, Sept. 23, 2025, at U.N. headquarters. (AP Photo/Angelina Katsanis)

Trump says he was victim of ‘triple sabotage’ at UN and Secret Service is looking into the matter

September 24, 2025

President Donald Trump said on his social media site that he was the victim of “three very sinister events” during his time at the United Nations on Tuesday and that the Secret Service will be looking into the issues. First, the escalator came to a “screeching halt” with the president and his entourage on it, an event that Trump called “absolutely sabotage.” Second, Trump said his teleprompter went “stone cold dark” during his address to the U.N. Third, Trump said that the sound was off at the U.N. as he spoke and that people could only hear his remarks if they had interpreters speaking into earpieces.

FILE - President Donald Trump holds charts as he speaks about the economy in the Oval Office of the White House, Aug. 7, 2025, in Washington. (AP Photo/Mark Schiefelbein, file)

Trump’s economic promises to Black voters fall short after a modest shift in support for him in 2024

September 20, 2025

Donald Trump warned during the campaign that Black Americans were losing jobs in large numbers and things would only worsen without his leadership. The Republican has been back in the White House since January, and the economic situation for Black Americans has deteriorated. Black unemployment has risen from 6.2% to 7.5% this year, the highest since October 2021. Black homeownership has fallen to the lowest level since 2021. That can put at risk the small but politically meaningful inroads Trump made in 2024 with Black voters. The White House says some of the downward trends began under Democratic President Joe Biden.

President Donald Trump speaks at a dinner in the Rose Garden of the White House, Friday, Sept. 5, 2025, in Washington. (AP Photo/Alex Brandon)

Trump’s job market promises fall flat as hiring collapses and inflation ticks up

September 5, 2025

The U.S. job market has gone from healthy to lethargic during President Donald Trump’s first seven months back in the White House. Friday’s jobs report showed employers added a mere 22,000 jobs in August, as the unemployment rate ticked up to 4.3%. Factories and construction firms shed workers. The new data exposed the widening gap between the booming economy Trump promised and the more anemic reality of what he’s managed to deliver so far. The White House prides itself on operating at a breakneck speed, but it’s now asking the American people for patience, with Trump saying better job numbers might be a year away.

Part of an email to Bureau of Labor Statistics employees from William Wiatrowski, obtained by The Associated Press, is photographed Tuesday, Aug. 12, 2025. (AP Photo/Jon Elswick)

‘Crazy!!’: How Labor Statistics staff reacted to Trump firing commissioner after dismal jobs report

August 12, 2025

Staff at the Bureau of Labor Statistics called President Donald Trump’s firing of its commissioner “depressing” and “CRAZY!!” That’s according to emails obtained by The Associated Press under the Freedom of Information Act. The emails suggest an agency with little of the corrupting partisanship that Trump had claimed was behind the downward revision of added jobs. Instead, after the commissioner’s firing, BLS employees talked about the importance of accurate numbers and professional integrity in producing data that is foundational for measuring the economy and holding elected officials accountable for how the nation performs.

President Donald Trump holds charts as he speaks about the economy in the Oval Office of the White House, Thursday, Aug. 7, 2025, in Washington. (AP Photo/Mark Schiefelbein)

Trump defends the US economy with charts after job reports showed warning signs

August 7, 2025

President Donald Trump has summoned reporters to the Oval Office to present charts that he says shows the economy is solid. This follows a recent jobs report that raised concerns and led to the firing of the head of the Bureau of Labor Statistics. Stephen Moore, a senior fellow at the Heritage Foundation, joined Trump to discuss the economy. Moore argued that Trump was right to dismiss the BLS head, citing overestimated job numbers during Joe Biden’s term. Trump aims to reset the economic narrative amid sluggish job growth and rising inflation. Inflation concerns have increased due to Trump’s tariffs.

A customer shops a grain isle at New India Bazar, where most merchandise is imported from India and Canada, on Wednesday, Aug. 6, 2025, in Fremont, Calif. (AP Photo/Noah Berger)

Trump’s broad tariffs go into effect, just as economic pain is surfacing

August 6, 2025

President Donald Trump has started imposing higher import taxes on goods from over 60 countries, including the European Union, Japan and South Korea. These tariffs, which began Thursday, are part of Trump’s strategy to reduce the trade deficit and encourage foreign investment in the U.S. However, the economic impact is already visible, with signs of stalled hiring, rising inflation and declining home values. Despite the uncertainty, Trump remains optimistic about economic growth, while many experts warn of potential long-term damage.

President Donald Trump speaks with reporters before boarding Air Force One at Lehigh Valley International Airport, Sunday, Aug. 3, 2025, in Allentown, Pa. (AP Photo/Julia Demaree Nikhinson)

In rejecting the jobs report, Trump follows his own playbook of discrediting unfavorable data

August 4, 2025

President Donald Trump has a pattern of dismissing or altering data that reflects poorly on him. During his first term, he suggested reducing COVID-19 testing to make the outbreak seem less severe. When he lost the 2020 election, he falsely said the vote count was fraudulent. And on Friday, after a jobs report showed economic distress, he fired the official responsible for the data and called the report “phony.” Critics warn that manipulating data could harm public trust and lead to misguided policies. Experts stress the importance of trustworthy data for government and businesses. Trump has also been accused of inflating his net worth.

Brazil's former President Jair Bolsonaro points a photo of him during a motorcycle caravan by supporters to protest the Supreme Court trial where he faces charges for alleged involvement in a 2022 coup attempt, in Brasília, Brazil, Tuesday, July 29, 2025. (AP Photo/Luis Nova)

Trump signs order to justify 50% tariffs on Brazil

July 30, 2025

President Donald Trump has signed an executive order to impose his threatened 50% tariffs on Brazil. The order Wednesday sets a legal rationale that Brazil’s policies and criminal prosecution of former President Jair Bolsonaro constitute an economic emergency under a 1977 law. Trump earlier this month threatened the tariffs on Brazil in a letter to President Luiz Inacio Lula da Silva. But the legal basis of that threat was an earlier executive order premised on trade imbalances being a threat to the U.S. economy. But America ran a $6.8 billion trade surplus last year with Brazil, according to the U.S. Census Bureau.

Federal Reserve Chairman Jerome Powell looks over a document of cost figures as President Donald Trump watches during a visit to the Federal Reserve, Thursday, July 24, 2025, in Washington. (AP Photo/Julia Demaree Nikhinson)

Fed chair tells Trump he has his facts wrong on central bank’s renovation costs

July 24, 2025

As president, Donald Trump doesn’t get a lot of pushback, but he got some Thursday from Federal Reserve Chairman Jerome Powell about the renovation costs of the Fed’s headquarters. Standing in the plywood-sheathed building, Trump claimed the project was over budget at $3.1 billion. Powell disagreed, saying Trump’s number was including a building renovated five years ago and the real number was $2.5 billion. The exchange followed months of criticism by Trump of Powell’s decisions as Fed chair and an accompanying pressure campaign to get the central bank head to step down.

FILE - A sheet of new $1 bills is seen, Nov. 15, 2017, at the Bureau of Engraving and Printing in Washington. (AP Photo/Jacquelyn Martin, File)

More Americans shift money from checking and savings to accounts with investment income, study says

July 21, 2025

New research finds that more Americans are shifting their money from checking and savings accounts into financial vehicles that pay an investment income. The trend helps to explain the resilience of the U.S. economy after a bout of high inflation and recent uncertainty due to tariffs. The analysis by the JPMorganChase Institute examined the accounts of 4.7 million households. It found that people’s total cash reserves are increasing after including brokerage accounts, money market funds and certificates of deposit to assess people’s well-being. This helps to explain the strong consumer spending even though checking and savings account balances were below historical trends.

Canada's Prime Minister Mark Carney walks with President Donald Trump after a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein)

Trump plans to hike tariffs on Canadian goods to 35%

July 11, 2025

Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he’ll raise taxes on many imported goods from Canada to 35%. Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance. Trump’s letter Thursday to Carney is an aggressive increase to the top 25% tariff rates the Republican president first imposed in March after months of threats. Carney says through the current trade negotiations with the U.S., Canada has defended its workers and business. Stock market futures are down Friday, a sign Trump’s tariff letters may be concerning investors.

President Donald Trump attends a meeting with Israel's Prime Minister Benjamin Netanyahu in the Blue Room of the White House, Monday, July 7, 2025, in Washington. (AP Photo/Alex Brandon)

Trump’s previous tariff push terrified the world economy. He’s betting this time is different

July 8, 2025

The last time President Donald Trump rolled out tariffs this high, financial markets quaked, consumer confidence crashed and his popularity plunged. Only three months later, he’s betting this time is different. In his new round of tariffs being announced this week, Trump is essentially tethering the entire world economy to his instinctual belief that import taxes will deliver factory jobs and stronger growth in the U.S., rather than the inflation and slowdown predicted by many economists. There are three possible outcomes. Trump could prove most economic experts wrong and the tariffs could deliver growth as promised. Or he could retreat again on tariffs before their Aug. 1 start. Or he could damage the economy.

President Donald Trump speaks during an "Invest in America" roundtable with business leaders at the White House, Monday, June 9, 2025, in Washington. (AP Photo/Evan Vucci)

Trump’s tax bill could raise taxes on foreign companies, hurting investment from abroad

June 10, 2025

President Donald Trump likes to say he’s bringing in trillions of dollars in investments from foreign countries. But a provision in his tax cuts bill could cause international companies to avoid expanding into the United States. The House-passed version of the legislation would allow the federal government to impose taxes on foreign-parented companies and investors from countries judged to charge “unfair foreign taxes” on U.S. companies. A new analysis estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years in lost GDP. The analysis estimates that the tax could cut a third off the economic growth anticipated from the overall tax cuts.

Office of Management and Budget director Russell Vought speaks to reporters at the White House, Thursday, May 22, 2025, in Washington. (AP Photo/Evan Vucci)

Trump formally asks Congress to claw back approved spending targeted by DOGE

June 3, 2025

The White House has officially asked Congress to claw back $9.4 billion in already approved spending. The process known as rescission will take funding away from programs targeted by Elon Musk’s Department of Government Efficiency. It requires President Donald Trump to get approval from Congress to return money that had previously been appropriated. Trump’s aides say the funding cuts target programs that promote liberal ideologies. The request to Congress is unlikely to meaningfully change the troublesome increase in the U.S. national debt. The Congressional Budget Office estimates the government is on track to spend roughly $7 trillion this year, with the rescission request equaling just 0.1% of that total.

President Donald Trump waves as he departs the White House, Friday, May 23, 2025, in Washington. (AP Photo/Jacquelyn Martin)

Trump’s big plans on trade and more run up against laws of political gravity, separation of powers

May 29, 2025

President Donald Trump’s big plans on trade, deportations and more are running up against the laws of political gravity and the separation of powers. On Wednesday, a New York court rejected the legal foundation of Trump’s most sweeping tariffs. The setback fit a broader pattern for a president who has advanced an extraordinarily expansive views of executive power. Federal courts have called out the lack of due process in some of Trump’s deportation efforts. His efforts to humble Harvard University and cut the federal workforce have encountered legal obstacles as well. The Trump White House insists it will prevail in the end.

President Donald Trump speaks during a swearing in ceremony for interim U.S. Attorney General for the District of Columbia Jeanine Pirro, Wednesday, May 28, 2025, in Washington. (AP Photo/Evan Vucci)

Trump rejects claim he’s ‘chickening out’ on tariffs just because he keeps changing rates

May 28, 2025

President Donald Trump wants the world to know he’s no “chicken” just because he’s repeatedly backed off high tariff threats. The U.S. president’s tendency to levy extremely high import taxes and then retreat has created what’s known as the “TACO” trade. It’s an acronym coined by The Financial Times’ Robert Armstrong that stands for “Trump Always Chickens Out.” Markets generally sell off when Trump makes his tariff threats and then recover after he backs down. Trump was visibly offended when asked about the phrase Wednesday. He said it’s not “chickening out,” it’s negotiation.

President Donald Trump silences his phone that rang twice as he was speaking to reporters after signing executive orders regarding nuclear energy in the Oval Office of the White House, Friday, May 23, 2025, in Washington, as Interior Secretary Doug Burgum and Defense Secretary Pete Hegseth watch. (AP Photo/Evan Vucci)

Trump threatens 50% tariffs on EU and 25% penalties on smart phones as his trade war intensifies

May 23, 2025

President Donald Trump is threatening a 50% tax on all imports from the European Union as well as a 25% tariff on smartphones unless the products are made in America. The threats were delivered over social media on Friday. They reflect Trump’s ability to disrupt the global economy with a burst of typing, as well as the reality that his tariffs aren’t producing the sufficient trade deals he’s seeking or the return of domestic manufacturing he’s promised to voters.

How much did Mideast countries promise to invest in the US? Trump keeps jacking up the number

May 20, 2025

President Donald Trump loves big numbers —- and he’s always happy to talk them up. After all, Trump years ago coined the phrase “truthful hyperbole” in his book “The Art of the Deal.” Over the last few days he has been steadily increasing the amount of money he says that countries in the Mideast pledged to invest in the U.S. when he visited the region last week. He didn’t provide underlying details. Based on statements from Trump and the White House, the figure has gone from $2 trillion last week to potentially $7 trillion as of Tuesday.

Josh Boak.