Specifics are still TBD, but the U.K. got a reprieve on auto, steel and aluminum tariffs, while the U.K. may open up to more U.S. agricultural products.
Consumers’ expectations about their own personal financial situations declined sharply in April, according to the New York Fed. But their inflation expectations didn't change much.
“It’s more of a convenient moral gymnastics to say that people who cheat the federal government should be given a lighter touch than people who borrowed from it,” said economist Kathryn Anne Edwards.
Despite the collapse of the Francis Scott Key Bridge last March, the Port of Baltimore reported its second-best year ever in 2024. But as expectations for 2025 waver, Sue Monaghan is trying to keep calm and carry on.