U.S. hiring surged in March, blowing past economists’ expectations and defying concern on Wall Street about a possible economic recession, government data on Friday showed.
The fresh data offered news of an upsurge in employer activity as stocks suffered a second day of selloffs over sweeping new tariffs announced by President Donald Trump earlier this week.
» Read more about: US hiring surged in March, defying recession fears »
The US economy added a stronger-than-expected 228,000 jobs in March, showing that hiring remained solid even as concerns grew over President Donald Trump’s escalating global trade war, according to government data released on Friday.
The figure, released by the US Labour Department on Friday, marked a sharp increase from the revised 117,000 jobs added in February.
» Read more about: What Do Trump's Tariffs Mean For the Federal Reserve's Fight Against Inflation? »
U.S. Federal Reserve Chair Jerome Powell departs after speaking during a Society for Advancing Business Editing and Writing (SABEW) Annual Conference on April 4 in Arlington, Virginia.Anna Moneymaker/Getty Images
U.S.
» Read more about: U.S. Federal Reserve’s Jerome Powell sees higher inflation in wake of tariffs »
Federal Reserve chair Jay Powell has warned that Donald Trump’s tariffs will stoke “higher inflation and slower growth” as the president’s plans for steep levies on the US’s trading partners shake global financial markets.
“It is now becoming clear that the tariff increases will be significantly larger than expected,” Powell said in prepared remarks to a conference in Virginia on Friday.
ARLINGTON, Va. (AP) — The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth, Fed Chair Jerome Powell said Friday.
Powell said that the tariffs, and their likely impacts on the economy and inflation, are “significantly larger than expected.” He also said that the import taxes are “highly likely” to lead to “at least a temporary rise in inflation,” but added that “it is also possible that the effects could be more persistent.”
“Our obligation is to …
The effects of Tesla’s (TSLA) “unprecedented” brand damage have surprised even analysts at J.P.
One of Wall Street’s best-known traders said there was “blood on the streets” at the New York Stock Exchange as the markets dealt with the worst day since COVID amid President Trump’s trade war.
Peter Tuchman, known as the ‘Einstein of Wall Street’ due to his distinctive hairstyle,
» Read more about: Wall Street’s ‘Einstein’ Trader on Trump: ‘I Couldn’t Have Been More Wrong’ »
Wall Street is wasting no time saying which stocks it really hates in the era of bruising Trump tariffs.
It’s hard to fault the quick change in sentiment.
Markets braced for another day of heavy selling on Friday. At the time of this writing, Dow Jones Industrial Average futures (YM=F) were sinking 1,400 points as China hit back with fresh 34% tariffs on the US and added 11 companies to its unreliable list.
» Read more about: Wall Street now hates these 10 stocks because of Trump tariffs »
A Quincy woman will go to prison for taking disability benefits from the Social Security Administration despite being married, United States Attorney Leah Foley’s office said.
U.S. Magistrate Judge Jennifer Boal sentenced Crystal Gesumaria, 41, to three years of probation and was ordered to pay $93,603 in restitution, Foley’s office said in a statement.
