Could You Use Some Instant Cash Upfront?

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

US economic worries mount as Trump implements tariffs, cuts workforce and freezes spending

JOSH BOAK
March 08, 2025

WASHINGTON (AP) -- With his flurry of tariffs, government layoffs and spending freezes, there are growing worries President Donald Trump may be doing more to harm the U.S. economy than to fix it.

The labor market remains healthy with a 4.1% unemployment rate and 151,000 jobs added in February, and Trump likes to point to investment commitments by Apple and Taiwan Semiconductor Manufacturing Company to show that he's delivering results.

But Friday's employment report also found that the number of people stuck working part-time because of economic circumstances jumped by 460,000 last month. In the leisure and hospitality sectors that reflect consumers having extra money to spend, 16,000 jobs were lost. And the federal government reduced its payrolls by 10,000 in a potential harbinger of the alarm being sounded by the stock market, consumer confidence and other measures of where the economy is headed.

Since January, the economic policy uncertainty index has spiked 41% to a level, 334.5, that in the past signaled a recession. Nicholas Bloom, a Stanford University economist and co-developer of the uncertainty index, said it's unclear how this will play out, but he's worried.

"I have an increasing fear we will enter into what may become known as the 'Trump recession,'" he said. "Ongoing policy turbulence and a tariff war could tip the U.S. economy into its first recession in five years." That last recession occurred under Trump because of the coronavirus pandemic.

For his part, Trump seems comfortable with the uncertainty that he's generating, saying that any financial pain from import taxes is a mere "disruption" that will eventually lead to more factories relocating to the United States and stronger growth.

If Trump's gambit succeeds, the Republican would cement his reputation as an unconventional leader who proved doubters wrong. But if Trump's tariffs backfire, much of the price would be paid by everyday Americans who could suffer from job losses, lower wages, higher inflation and, possibly, an injured sense of national pride.

In an interview to air Sunday on Fox News' "Sunday Morning Futures," Trump was pressed to provide some clarity on his tariffs agenda that has caused uncertainty to fester. The president largely hedged his answer and blamed the 6% drop in the stock market over the past two weeks on "big globalists."

"You know, the tariffs could go up as time goes by, and they may go up and, you know, I don't know if it's predictability," the president said.

The White House maintains that Friday's jobs report showed the administration's strategy is working because manufacturers added 10,000 jobs. Of the manufacturing gains, 8,900 jobs came from the auto sector, recovering some of the industry's job losses in January. The White House also suggested that the loss of leisure and hospitality jobs was the result of flu season and people having depleted savings and credit card debt because of President Joe Biden's term.

"I thought it was a really, really impressive jobs report," Kevin Hassett, director of the White House National Economic Council, said of Friday's numbers.

Hassett said the additional factory jobs were the result of companies "on-shoring" work because of the coming tariffs.

"This is the first of many reports that are going to look like this," Hassett said with regard to the hiring in the industrial sector.

The stock market selloff raises doubts about whether tariffs will create the promised jobs.

"Markets anticipate," said John Silvia, CEO of Dynamic Economic Strategy. "The turn down the dark alley of tariffs signals higher inflation, slower economic growth and a weaker U.S. dollar. It is an economic horror movie in slow motion."

Trump has instigated a trade war in the last week with Canada, Mexico and China, only to then hit a monthlong pause on some of his import taxes because of the threat to U.S. auto factory jobs and because of Mexico's latest efforts to curb fentanyl smuggling.

More tariffs are coming on April 2 for Europe, Trump says, possibly putting the United States into open conflict with a continent it helped rebuild after World War II. South Korea, India and Brazil could also face new tariffs, Trump said in his address to a joint session of Congress on Tuesday.

Silvia said Trump's tariffs need to be more targeted with regard to products and nations and set at lower rates, adding that doing so would provide an assurance that there is solid research backing the measures.

There were multiple signs of uncertainty and concerns about the tariffs in the Federal Reserve's beige book, a collection of anecdotes from hundreds of businesses that the Fed releases eight times a year.

Published Wednesday, the beige book included 47 references to uncertainty, up from just 17 in the previous edition in January.

"Many businesses noted heightened economic uncertainty and expressed concern about tariffs," the Fed's New York branch reported. "Looking ahead, businesses were notably less optimistic."

"This is the perfect storm for businesses," said Brian Bethune, an economist at Boston College. "How can you possibly plan anything in this environment?"

Still, Treasury Secretary Scott Bessent said Friday on CNBC that he sees positive momentum in combating inflation. He said crude oil prices have fallen since Trump's inauguration, as have the interest rates on 10-year U.S. Treasury notes and mortgages.

Still, interest rates on government debt are higher than they were last year in September, and the recent decline could reflect a slowdown in economic demand.

Bessent suggested a core problem is that the U.S. economy has become overly reliant on government deficits and that the Trump administration would be fostering stronger growth in the private sector.

"We've become addicted to this government spending, and there's going to be a detox period," he said.

This particular form of economic rehab is coming from Trump's Department of Government Efficiency, which is led by T-shirted tech mogul Elon Musk, the owner of Tesla, X and SpaceX, among other companies.

The alleged savings by DOGE are still too paltry to bend the troubling trajectory of the national debt that is largely being driven by tax revenues that are insufficient to cover the rising costs of Social Security and Medicare.

But the initiative has started to downsize the federal workforce in ways that could surface in future jobs reports. Roughly 75,000 employees took the deferred resignation plan. There are also thousands of probationary federal workers who were fired and tens of thousands of layoffs to come based on the administration's plans.

Asked Friday in the Oval Office if the government layoffs could hurt the overall labor market, Trump said the economy would be great.

"I think the labor market is going to be fantastic, but it's going to have high-paying manufacturing jobs," he said. "We had too many people in government. You can't just do that."

___

AP economics writer Christopher Rugaber contributed to this report.

Continue Reading...

Popular

Jim Cramer Recommends Buying This Industrial Stock, Calling It 'Way Too Cheap'

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

Tucker Carlson Asks OpenAI CEO Sam Altman If He Ordered Employee's Murder

During an interview with OpenAI CEO Sam Altman, Tucker Carlson suggested Altman may have played a role in the death of former employee Suchir Balaji.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Someone could win $1.8B Powerball jackpot Saturday. Odds are their identity will remain a mystery

After Iowa gas station employee Timothy Schultz won a $29 million lottery jackpot in 1999, he decided to hold a press conference. Lottery officials told him it would help him avoid being “hounded by media" since state law required his name to be disclosed anyway.

Jim Cramer: Sell Chime, Get This Buy Now Pay Later Stock Instead

Chime Financial, on Aug. 22, announced a strategic partnership with Workday to advance financial wellness in the workplace.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Markets shaky? Elon Musk is quietly building "the most powerful supercomputer in the world" in South Memphis - to fuel the first superhuman AI. Even though it's inside his private firm xAI, there's a backdoor for regular investors. Starting with as little as $500, you could secure a stake - but the next funding round could open as soon as Oct 1st.

Takeaways from a hunt for 'secret' fresh water under the North Atlantic seabed

ABOARD LIFTBOAT ROBERT, North Atlantic (AP) — It turns out the Continental Shelf has been holding a secret from the ages. Beneath the sea floor off the U.S. northeast lies an enormous reserve of fresh water whose existence was long unknown, then was suspected and now is confirmed.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

More than 60 containers fall off ship in Long Beach port

LOS ANGELES (AP) — More than 60 containers toppled off a cargo ship Tuesday morning in the Port of Long Beach, tumbling overboard and floating in the water.

Did This New AI Just Replace Google? - Ad

Elon Musk's xAI just launched a model that could disrupt Google and even challenge ChatGPT. For the first time, you can stake in xAI with as little as $500 - but you must move before the Oct 1 funding round.

Inside Warren Buffett's Decision to Keep Leading Berkshire Hathaway in His 90s

Warren Buffett's retirement decision has sparked debates about his reasons for working past the typical retirement age and his current choice to step aside.

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

Edmunds SUV comparison: New Honda Passport vs Toyota 4Runner

Toyota has released a redesigned 4Runner for 2025. This is a big deal for fans of this SUV, as the previous generation was on sale for a lengthy 14 years. The new has distinctive new styling, the latest technology features, and an available hybrid powertrain that promises increased performance without sacrificing mpg. And just like previous models, it has a rugged design that’s well suited for off-road adventures.

Trump-Backed World Liberty Sinks As Billionaire Justin Sun Protests, Then Reinvests

Justin Sun clashed with Trump-linked World Liberty over frozen $WLFI tokens before reversing course Friday with a fresh $20M investment.

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Kevin O'Leary Once Revealed How Steve Jobs's Obsession With Fonts Spawned A Classroom Blockbuster And Taught Him A Key Business Lesson

Kevin O'Leary says Steve Jobs's obsession with fonts not only turned The Oregon Trail into a classroom blockbuster but also taught him a lasting business lesson about blending art, science and persuasion.

Elon's "AI Heist of the Century" Exposed - Ad

When Elon bought Twitter, pundits cried mistake. But it was a Trojan Horse. Inside xAI he's flipped a project that could reshape intelligence-and open a massive profit window. One analyst found a backdoor for regular investors.

Stock Of The Day: Breakdown In Archer Aviation?

Shares of Archer Aviation have broken a support level. This can be bearish and would suggest they trend lower.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

This Chinese $30K Tesla Model 3 Rival Secured 10,000 Orders In Seven Minutes

Xpeng's P7 sedan launched in China with over 10,000 orders in 7 mins. Rival Tesla also released new models for Chinese market.

Big Tech's energy-hungry data centers could be bumped off grids during power emergencies

HARRISBURG, Pa. (AP) — With the explosive growth of Big Tech's data centers threatening to overload U.S. electricity grids, policymakers are taking a hard look at a tough-love solution: bumping the energy-hungry data centers off grids during power emergencies.

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

WASHINGTON (AP) — Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home" in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud.

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

A preliminary report on Lisbon's streetcar tragedy is expected Friday

LISBON, Portugal (AP) — Details started to emerge about the people who were killed when a derailed, as the first investigative report examining what caused the popular Lisbon tourist attraction to crash was expected to be released Friday.

Detailed findings from AP investigation into how US tech firms enabled China's digital police state

BEIJING (AP) — American tech companies to a large degree designed and built China’s surveillance state, playing a far greater role in enabling human rights abuses than previously known, . They sold billions of dollars of technology to the Chinese police, government and surveillance companies, despite and that such tools were being used to , and .

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Robinhood Stock Surges Over 7% In Monday Pre-Market: What's Going On?

The stock of Robinhood Markets Inc. (NASDAQ: HOOD) surged 7.46% during the Monday pre-market trading session following Friday's news that it will be included in the S&P 500.

Trump Says Russian Drone Incursion Into Poland Possibly An Error: 'Could Have Been A Mistake'

Trump downplays Russian drones entering Polish airspace, implying it was unintentional. European leaders fear it was deliberate while NATO responds.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Markets shaky? Elon Musk is quietly building "the most powerful supercomputer in the world" in South Memphis - to fuel the first superhuman AI. Even though it's inside his private firm xAI, there's a backdoor for regular investors. Starting with as little as $500, you could secure a stake - but the next funding round could open as soon as Oct 1st.

Skye Bioscience Advances Position In Competitive Obesity Market With Promising Data

Skye Bioscience's latest data show nimacimab boosted tirzepatide's weight loss effects and reduced obesity treatment rebound risk.

China's export growth slows in August amid trade tensions with US

BEIJING (AP) — grew last month but at a slower pace than in recent months, the country's customs agency said Monday.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Sikh truckers see spike in anti-immigrant vitriol after deadly Florida crash

Members of California’s Sikh trucking community say a deadly crash involving one of its own, which triggered heated national , has led to a spike in anti-Sikh rhetoric.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service