Scott Horsley

Bessent testifies before the Senate Finance Committee during his confirmation hearing for Treasury Secretary in the Dirksen Senate Office Building in Washington, D.C., on Jan. 16, 2025.

Wall Street investor Scott Bessent was confirmed as the next Treasury secretary by the Senate on Monday.

The Federal Reserve held its benchmark interest rate steady Wednesday. The central bank has signaled it will be cautious about cutting rates so long as inflation remains elevated.

Consumer spending kept the U.S. economy humming in October, November and December. The economy grew at an annual rate of 2.3% during the quarter.

President Trump is threatening to impose tariffs on imports from Canada and Mexico as early as this weekend. Some businesses are trying to prepare, while many economists hope it's just a threat.

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.

President Trump is imposing 25% tariffs on most imports from Mexico and Canada, as well as 10% tariffs on imports from China. Mexico supplies more than a quarter of the fresh fruits and vegetables in the U.S., including avocados popular in Super Bowl guacamole.

President Trump followed through on his threat to impose steep new tariffs on imports from Mexico, Canada, and China. But he pushed back the effective date until Tuesday.

President Trump is imposing 25% tariffs on most imports from Mexico and Canada, as well as 10% tariffs on imports from China. Mexico supplies more than a quarter of the fresh fruits and vegetables in the U.S., including avocados popular in Super Bowl guacamole.

President Trump has paused tariffs on imports from Mexico that were set to take effect on Tuesday.