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The weighted average tariff rate on all US imports has risen to 13.5%, the highest since 1946, after five bilateral trade deals in six weeks. Economists project consumer price increases of 1.4% to 2.2% above baseline.
The IRS has discontinued its free Direct File program for the 2026 tax season, eliminating a service that was available in 25 states and used by millions. The tax preparation industry, which lobbied heavily against the program, stands to benefit most.
The weighted average U.S. tariff rate has risen from 1.5% to 13.5% in less than two years, the highest level since 1946, functioning as the largest tax increase as a percentage of GDP since 1993.
U.S. retail sales were unchanged in December 2025, missing the 0.4% consensus forecast, as furniture, clothing, and electronics all posted declines in the weakest holiday finish since 2022.
The Conference Board's Consumer Confidence Index fell to 84.5 in January, its lowest since 2014, as Americans confront rising tariff costs, persistent inflation, and a softening job market.
The Consumer Price Index cooled to 2.4% in January, the lowest in eight months, but beneath the headline number, airfares surged 6.5%, sporting event admission jumped 5.4%, and coffee prices hit record levels.
The Bureau of Labor Statistics' final benchmark revision slashed 2025 job growth from 584,000 to just 181,000, revealing that the economy averaged only 15,000 jobs per month and actually contracted during four months of the year.
A new Federal Reserve Bank of New York study finds U.S. companies and consumers absorbed nearly 90% of the tariff costs in 2025, contradicting claims that foreign exporters bear the burden.
The IRS has lost 19,000 employees in the past year, seasonal hiring is at 2% of target, and new direct deposit requirements add complexity. Here is what to know about getting your 2026 tax refund.
Medicare Part B premiums jumped 9.7% to $202.90 per month in 2026, consuming a third of the 2.8% Social Security COLA increase and leaving millions of retirees with an effective raise near zero.
Henry Hub natural gas hit a nominal record of $30.72 per MMBtu on January 23 before crashing back to $3.17. The EIA raised its 2026 price forecast 23% and storage levels are at their lowest since 2022, setting up a volatile spring for energy consumers.
The 2026 tax filing season is projected to deliver a record $370 billion in refunds, with the average household receiving roughly $1,000 more than last year thanks to the One Big Beautiful Bill Act's tax cuts.