The Federal Reserve Bank of Atlanta forecast a sharp decline of 2.7% for US GDP in the first quarter of 2025. That would mark the worst quarter since the Covid era in mid-2020.
Myung J. Chun/Los Angeles Times/Getty Images
US economy goes into reverse from Trump’s abrupt policy shifts
HAMBURG, GERMANY - APRIL 17: Shipping containers lie stacked at Hamburg Port on April 17, 2024 in Hamburg, Germany. The International Monetary Fund (IMF) has reduced its prognosis for Germany's economic growth this year to 0.2%, the lowest of any G7 nation. Hamburg Port is Germany's biggest port and is a hub for exports and imports. (Photo by Sean Gallup/Getty Images)
Sean Gallup/Getty Images
Europe saw faster economic growth early this year but Trump’s tariffs have dimmed its prospects
A woman shop for items at a Dollar Tree store on April 28 in Alhambra, California.
Frederic J. Brown/AFP/Getty Images
Consumer confidence sinks to lowest level since May 2020
Cranes unload cargo shipping containers at the Port of Los Angeles in San Pedro, California, on April 15. Gross domestic product likely slowed due to higher imports driven by Americans rushing to beat Trump’s tariffs.
Patrick T. Fallon/AFP/Getty Images
The US economy likely just had its worst quarter since Covid
An aerial view of a residential housing development on April 03, 2025 in Los Angeles, California. Across the country, more home purchase deals are falling through than usual.
Mario Tama/Getty Images
Tariffs and stock market volatility are clouding spring home shopping season
Shoppers in San Francisco on April 15. The US consumer is clearly feeling uneasy in the current economic environment, but it’s unclear how that will translate into spending.
David Paul Morris/Bloomberg via Getty Images
Consumer sentiment plunges 8%
President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2.
Chip Somodevilla/Getty Images
Trump outlines what ‘total victory’ looks like in his trade war. It’ll cost you
A worker moves a shipping container at Felixstowe port in Felixstowe, UK, on Wednesday, April 9, 2025.
Chris Ratcliffe/Bloomberg/Getty Images
The economic damage from Trump’s tariffs is piling up
Shipping containers in the container yard at the Port of Baltimore in Maryland, pictured on April 12, 2025.
Samuel Corum/Sipa USA/AP
Trump’s trade war will hit US prosperity hard, IMF warns
Want evidence Trump’s tariffs are upending the global economy? Here it is
The Marriner S. Eccles Federal Reserve building in Washington, DC, on December 31, 2024.
Samuel Corum/Bloomberg/Getty Images
Jerome Powell isn’t rushing to lower rates, even if Trump is rushing to fire him
Melanie Abrantes in her Oakland, CA studio, turning a cork vase for my sustainable home goods collection made with Portuguese cork.
Nicole Miller
‘Chaotic’ tariff regime and trade war are leaving small businesses in their wake
President Donald Trump has repeatedly claimed that other countries have been “ripping off” the United States for years, despite American growth rates that have been the envy of the developed world.
Anna Moneymaker/Getty Images
Trump wants his tariffs to reset the world. He might get his wish
Kevin Warsh, a former governor of the Federal Reserve, during The Semafor World Economy Summit in Washington, DC, on April 18, 2024.
Samuel Corum/Bloomberg/Getty Images
Trump wants Powell out of the Fed. Waiting in the wings is Kevin Warsh

Highlights

Federal Reserve Chair Jerome Powell issued a stark warning about the US economy during an Economic Club of Chicago event in Chicago on April 16.
Jamie Kelter Davis/Bloomberg via Getty Images
Trump blasts Fed Chair Powell, saying his ‘termination cannot come fast enough’
Homes in Hercules, California, on Tuesday, March 25, 2025. The Trump administration's tariffs have injected uncertainty into the bond market, impacting mortgage rates.
David Paul Morris/Bloomberg/Getty Images
Mortgage rates climb to highest level in two months as Trump’s tariffs continue to rock markets
The headquarters of the European Central Bank in Frankfurt am Main, Germany.
Kirill Kudryavtsev/AFP/Getty Images
European Central Bank cuts interest rates as tariffs threaten the economy
Chair of the Board of Governors of the Federal Reserve System Jerome Powell speaks during an event hosted by the Economic Club of Chicago on April 16.
Erin Hooley/AP
Fed Chair Powell gives starkest warning yet on potential economic consequences from tariffs

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Shipping containers are seen stacked in the container yard at the Port of Baltimore in Maryland on April 12.
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President Donald Trump’s volatile trade war, which threatens higher inflation, has significantly weighed on Americans’ moods these past few months.
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US consumer sentiment plummets to second-lowest level on records going back to 1952
Another inflation report underlines the strength of the US economy before Trump’s tariff chaos
US inflation cooled to a six-month low in March, but tariff pressures are quickly mounting
The next round of Trump’s tariffs could hurt even more. Here’s what to expect

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