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We spoke to experts to learn how Trump's tariffs will affect mortgage rates and the housing market.
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No one, literally no one, from the president to this columnist, expected to see 228,000 jobs added by the American job market last month.
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Stock market today: Dow plunges 2,200 points, Nasdaq enters bear market as Trump tariffs spark worst meltdown since 2020 Yahoo FinanceTrump's self-inflicted tariff crisis sparks confusion, chaos and questions of competence CNNTrump bets 'beautiful' tariffs will boost US economy amid global recession fears India Today
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It's Jobs Friday and all eyes are on government workers. Will the Trump administration's layoffs finally show up in the latest jobs report? Today on the show, we look at the numbers for federal workers and who's trying to hire them.
Related listening:
Can ... we still trust the monthly jobs report (Apple / Spotify)
The last time we shrank the federal workforce (Apple / Spotify)
A 'Fork in the Road' for federal employees (Apple / Spotify)
How local government is propping up the U.S. labor market
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money via Apple Podcasts or at plus.npr.org.
Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
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The larger-than-expected gains come as concerns mount about the economic impact of sweeping tariffs and cuts to the federal government.
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Dow crashes 2,200 points and Nasdaq falls into bear market territory as stocks extend selloff after Powell signals no imminent rate cuts FortunePowell sees tariffs raising inflation and says Fed will wait before further rate moves CNBCTariffs likely to cause higher inflation and slower growth, Powell warns The Washington PostFe
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Fears that President Trump's tariffs could slash global economic growth — and demand for oil — are weighing on the market.
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