In the 2000s, a so-called China shock swept through the U.S. economy, lowering consumer prices while causing massive losses of manufacturing jobs. Former President Trump's proposed tariff regime would be, in effect, an audacious attempt to reverse it.
The big picture: Trade experts believe that the price of imported manufactured goods would rise significantly if Trump returns to the White House and enacts the aggressive program he has described on the campaign trail. They are not persuaded that a manufacturing renaissance would follow.
A testy exchange between reporters and White House press secretary Karine Jean-Pierre Monday highlighted growing tensions between the press corps and the White House over coverage of Joe Biden's age.
Why it matters: Biden's debate performance amplified reporters' existing frustrations about a lack of transparency and access to the president.
This sounds like a fun, swift ride for all the tortured poets out there. Taylor Swift fans will get to belt out her tunes during a special sing-along on Brightline train rides to her three October concerts in Miami.
Justin Sun, founder of the controversial Tron blockchain, is promising an innovation in crypto's most popular use case.
Why it matters: Tron has become the second-largest generator of on-chain revenue year to date, driven in no small part by being a very popular medium for sending stablecoins around the world.
A testy exchange between reporters and White House press secretary Karine Jean-Pierre Monday highlighted growing tensions between the press corps and the White House over coverage of Joe Biden's age.
Why it matters: Biden's debate performance amplified reporters' existing frustrations about a lack of transparency and access to the president.
The Washington Post on Tuesday launched a new AI-driven chatbot on its site that answers user queries about climate with answers pulled from Washington Post articles.
Why it matters: For now, the tool is only built to answer user queries about climate. In the future, the Post plans to expand the chatbot to other topics, said chief technology officer Vineet Khosla.
Federal Reserve chair Jerome Powell told lawmakers on Tuesday that a weakening labor market is just as much a risk to the economy as high inflation.
Why it matters: In recent months, Fed officials have said they want to see more economic data that confirms inflation is receding before lowering interest rates. But Powell acknowledges that waiting too long to do so could unnecessarily harm the economy and job market.
Chalkbeat, a nonprofit news organization that covers education at the local level, plans to launch a new outlet called Healthbeat this summer for local coverage of public health, its co-founder Elizabeth Green told Axios.
Why it matters: It's part of a broader expansion effort by Chalkbeat to bring civic news coverage to local markets by focusing on specific verticals.
Just hours after a Supreme Court decision gutted the power of federal agencies, a judge in Texas blocked the Labor Department from expanding overtime protections for workers.
Why it matters: Biden-era rules protecting workers seem less likely to succeed in the wake of the high court's decision in Loper Bright Enterprises v. Raimondo, which overturned what's known as the "Chevron deference" doctrine.
Office vacancy rates reached a record 20.1% in the second quarter — the highest since at least 1979, when Moody's began tracking.
Why it matters: Typically vacancy rates rise in economic downturns; it's outside the normal pattern that they've been going up for the past few years as the economy has remained on solid ground.
One of the silliest traditions on Wall Street — the publication of price targets for the S&P 500 — just might be starting to die.
Why it matters: If there's a silver lining to the record concentration of the S&P 500 among a handful of tech giants, it's that analysts increasingly are unwilling to even pretend that market moves over the course of a single year are in any way predictable.
DoorDash on Tuesday announced new steps to rein in account sharing and traffic law violations among its drivers in Boston and other U.S. cities.
Why it matters: The food delivery company's steps could address city officials' concerns about contracted drivers on scooters and motorcycles breaking traffic laws while making deliveries.
