ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
With natural disasters and extreme weather events becoming more common, the U.S. real estate market will lose more than a trillion dollars in value as Americans move away from riskier areas and toward those expected to be more resilient, according to a new report. |
But the great climate migration of the coming decades won't be linear, the analysis says. Americans will likely continue to flock to many of the areas that face the most peril, as local amenities and favorable economic conditions outweigh the mounting costs of climate risk. |
The cost of Trump's tariffs |
President Donald Trump's tariffs on three of the nation's biggest trading partners could have sweeping impact around the world and raise prices for American consumers, Rachel Barber reports. |
Trump imposed 25% tariffs on goods from Canada and Mexico, a decision he said he hopes decreases the amount of fentanyl and migrants coming into the U.S. across their borders. The president imposed a 10% tariff on imports from China. The taxes set the stage for a trade war. |
The new tariffs will reignite inflation and deal a significant blow to an economy that has been chugging along, economists say. |
The Federal Reserve's preferred annual inflation measure, which was at 2.8% in December, will rise to 3% by the end of the year, estimates Ryan Sweet, chief U.S. economist for Oxford Economics. Sweet had expected the reading to fall to 2.2%, close to the Fed's 2% goal, without the import duties. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | Americans are likely to continue moving to areas with risky climates, even as other places are abandoned, and more resilient places welcome newcomers. | | | | The White House confirmed the U.S. will impose tariffs on Canada, Mexico, and China starting Saturday. | | | | The tariffs on Canada, Mexico and China that Trump announced would have a significant impact on the U.S. economy and inflation, forecasters said. | | | | Layoffs and unemployment rates are low, but job seekers across the country are struggling to find work as companies pull back on hiring. | | | | Nearly 2 in 3 people without diabetes quit popular weight loss drugs such as Ozempic or Victoza within one year, according to a new study. | | | | Prices at the mall are about one-fifth higher now than before the pandemic, thanks to cumulative inflation. But there are ways to roll them back. | | | | Mexican President Claudia Sheinbaum ordered tariff measures after the U.S. slapped across-the-board duties on goods coming from Mexico. | | | | Thrifting has become popular and mainstream among shoppers and resellers. What cities are the best and worst for thrifting? | | | | It's a decision to think through carefully. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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