Inflation remained stubbornly high in January, as grocery, gasoline and shelter costs all rose. Egg prices saw their biggest price hike in almost a decade.
Powell was also asked about the high cost of home ownership and President Trump's trade policies, but as usual, the Fed chair tried to steer clear of politics.
A tax on all imported steel and aluminum could give a helping hand to domestic steel and aluminum makers, but raise costs for businesses and consumers that buy the metals.
The tariffs from China range from 10% to 15% and are applied to crude oil, liquefied natural gas, farm machinery and select other products from the U.S.
There is one economic riddle ahead of Super Bowl Sunday: The egg market has been hit hard by avian flu, but wings are abundant and relatively affordable this year. So what gives?
Bird flu is forcing farmers to slaughter millions of chickens a month, pushing U.S. egg prices to more than double their cost in the summer of 2023. And there may be no relief in sight
President Trump wants to impose sweeping tariffs on Canada, Mexico and China. NPR's Steve Inskeep spoke with two economists who unpacked the repercussions for the United States.
The White House says fentanyl smuggled to the U.S. justifies tariffs against Canada, China and Mexico. But fentanyl deaths and smuggling have been dropping fast — and Canada plays almost no role.
President Trump renewed his threat to impose 25% tariffs on imports from Mexico and Canada as early as this weekend. The move could raise prices on everything from gasoline to guacamole.
