Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.

Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.

Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.

House Democrats and organized labor have thrown their support behind an updated trade agreement among the U.S., Mexico and Canada. The announcement came on the same day Democrats unveiled articles of impeachment against President Trump.

"This is a day we've all been working to," declared House Speaker Nancy Pelosi. "There is no question, of course, that this trade agreement is much better than NAFTA. But in terms of our work here, it is infinitely better than what was initially proposed by the administration."

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Updated at 2:33 p.m. ET

U.S. employers added a better-than-expected 266,000 jobs in November in a sign the economy continues to power ahead.

The unemployment rate dipped to 3.5%. Job gains for the two previous months were revised up by a total of 41,000.

"It's a tremendous report," said White House economist Tom Philipson. "Obviously, it's something to be very happy about."

Updated at 9:58 a.m. ET

The tariff war has caused a lot of anxiety for business owners and farmers. But how much has it hurt the overall economy?

The stock market got off to a rocky start this week when President Trump launched a new round of tariff threats. But administration loyalists insist concern about the trade war is overblown.

A new Gilded Age has emerged in America — a 21st century version.

The wealth of the top 1% of Americans has grown dramatically in the past four decades, squeezing both the middle class and the poor. This is in sharp contrast to Europe and Asia, where the wealth of the 1% has grown at a more constrained pace.

President Trump is abruptly reimposing tariffs on steel and aluminum imported from Brazil and Argentina.

Trump announced the move in a pair of tweets Monday, saying he was acting in response to "massive devaluation" of the two countries' currencies. Brazil and Argentina had been exempted from Trump's 25% tariff on imported steel and his 10% tariff on imported aluminum since May of last year.

Updated at 10:27 a.m. ET

The Misco speaker company in St. Paul, Minn., is celebrating its 70th anniversary this year. But the company's future is uncertain — a result of the trade war between the U.S. and China.

Dan Digre's dad started Misco after serving in World War II.

"He was a B-17 radio operator and came back to the United States and married a woman with a bad radio," Digre says. "Turned out the radio wasn't bad but the speaker was bad, so he started his own speaker repair business."

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President Trump said Friday he supports pro-democracy demonstrators in Hong Kong. But he stopped short of saying he would sign legislation requiring sanctions against China for any crackdown on Hong Kong protesters.

"We have to stand with Hong Kong, but I'm also standing with President Xi," Trump said in an interview on the Fox News program Fox and Friends. "He's a friend of mine."

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So we like to think of ourselves as a highly mobile society, but these days Americans are staying put more than ever before. And this has consequences for families, communities and the economy, as NPR's Scott Horsley reports.

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President Trump says the U.S. and China are close to striking a mini trade agreement. But he offered no guarantees.

In a speech to the Economic Club of New York on Tuesday, Trump downplayed the cost of his trade war, which has hurt farm exports and contributed to a slowdown in the U.S. manufacturing sector.

"The real cost would be if we did nothing," he said.

Trump offered few clues about the status of trade talks except to say, "We're close."

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Updated at 12:10 p.m. ET

U.S. employers added 128,000 jobs in October as the unemployment rate inched up to 3.6%.

Friday's report from the Labor Department suggests job growth remains resilient, despite the ongoing trade war and temporary setbacks such as the United Auto Workers strike at General Motors, which was settled a week ago.

Job gains for August and September were also revised upward by a combined 95,000.

Updated at 5:03 p.m. ET

The Federal Reserve cut interest rates by a quarter percentage point Wednesday in an effort to support an economy that continues to tap the brakes.

In announcing the move, Fed Chairman Jerome Powell pointed to weak business investment, which has been a drag on the economy, even as consumer spending has held up relatively well.

"We took this step to help keep the U.S. economy strong in the face of global developments and to provide some insurance against ongoing risks," he said.

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