Economy

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product

A key price gauge declined last month, a sign that inflation may be cooling though stiff tariffs threatened by the White House threaten that progress

Illinois is highly dependent on oil and gas from Canada, meaning consumers could be in line for higher energy and gas prices due to tariffs. About 72% of Illinois’ imports, or $47.4 billion, from Canada in 2023 was oil and gas

Local home construction businesses are bracing for a fair bit of uncertainty as proposed tariffs on a wide range of building materials are leaving many unknowns.

Pending home sales in the United States slid to an all-time low in January as high mortgage rates, record-high home prices, and possibly the terrible weather last month hindered those seeking to buy

President Donald Trump says he plans to impose tariffs on Canada and Mexico starting next Tuesday, in addition to doubling the 10% universal tariff charged on imports from China

President Donald Trump said Monday that his tariffs on Canada and Mexico are starting next month, ending a monthlong suspension on the planned import taxes that could potentially hurt economic growth and worsen inflation

Soaring egg prices are affecting restaurant margins, menu prices and family grocery budgets in DeKalb County, but restaurateurs said this week that they’re trying not to pass rising costs on to their customers.

Without solidified legislation, funding is in limbo. Farmers rely on crop insurance funding from the farm bill, which protects farmers from losses in crop yields and revenue due to disasters like drought and severe weather events

U.S. stocks fell sharply after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the economy

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged

It's been nearly a month in office for President Donald Trump, and he's acted with dizzying speed to reorder the American economy and global diplomacy

President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades

It was a much bigger drop than economists expected and the biggest decline since last January

President Donald Trump on Thursday rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports, possibly triggering a broader economic confrontation with allies and rivals alike

Joann plans to close 500 of its 850 craft and fabric stores – including several across northern Illinois – the company announced on Tuesday.

Excluding the volatile food and energy categories, core consumer prices rose 3.3% in January compared with a year ago

Sales taxes collected at Illinois cannabis dispensaries totaled more than $490 million in 2024, per the Illinois Department of Revenue

In 2020, researchers from Harvard University and the University of California, Davis, found that the tariffs created 1,000 jobs – but reduced employment elsewhere by 75,000

President Donald Trump says he'll announce on Monday that the United States will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties later in the week

Sales taxes collected at Illinois cannabis dispensaries totaled more than $490 million in 2024, per the Illinois Department of Revenue

U.S. employers added just 143,000 jobs last month, but the jobless rate slipped to 4% to start 2025 and the government revised November and December payrolls higher

MOOYAH Burgers, Fries & Shakes on West Jefferson Street in Joliet has closed.

Pizza Hut at 1156 W. Jefferson St. in Joliet is closed, according to the Pizza Hut website store locator.

President Donald Trump on Monday held off on his tariff threats against Mexico and Canada for 30 days after the two U.S. neighbors agreed to boost border security efforts

Mexican President Claudia Sheinbaum said Monday that after a conversation with U.S. President Donald Trump that the planned tariffs are on hold for a month, a statement confirmed by the White House

Here are some things to know about Trump’s actions, the counters from U.S. trading partners and what it means for American consumers

Canada and Mexico ordered retaliatory tariffs on American goods in response to sweeping tariffs imposed by U.S. President Donald Trump

President Donald Trump says Americans could feel “some pain” from the emerging trade war triggered by his tariffs against Canada, Mexico and China

The levies — 25% on Canadian and Mexican and 10% on Chinese goods – will take effect Tuesday. Canadian energy, including oil, natural gas and electricity, will be taxed at a lower 10% rate.

New trade penalties against Canada, Mexico and China that President Donald Trump plans to impose represent an aggressive early move against America’s three largest trading partners, but at the risk of higher inflation and possible disruptions to the global economy

President Donald Trump says he will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Saturday

Plainfield is slated to see several new businesses begin construction or officially open this year while one IL Route 59 mainstay will be closing its doors.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts

Chrystia Freeland, the former finance minister who is running to replace Justin Trudeau as Canada's prime minister, says her country needs to release a “retaliation list” of goods the country would target if U.S. President Donald Trump makes good on his threat to slap 25% tariffs

Will County needs more apartments and affordable housing to keep young people and meet the needs of a growing workforce, the head of the Will County Center for Economic Development said Wednesday.

The Will County Center for Economic Development gave its annual report at a breakfast at the Bolingbrook Golf Club Friday, addressing issues of housing, business development, and employment in the county.

The proposed merger of Kroger and Albertsons grocery chains has been temporarily halted by an injunction, further delaying the proposed sale of suburban Jewel-Osco stores.

Despite unexpected wrinkles in a year of transition, members of a countywide group that advocates for economic development said Friday they believe DeKalb County is poised for growth.

Inflation in the United States ticked up in October, driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021

Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president

The Federal Reserve cut its key interest rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week

America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls

The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates

Appearing before a friendly audience at the Economic Club of Chicago, the Republican presidential nominee repeatedly asserted that tariffs are misunderstood as an economic tool

Most mainstream economists say Trump’s policy proposals wouldn't vanquish inflation. They’d make it worse.

Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race

The same analysis says former President Trump's ideas could heap another $7.5 trillion onto the debt and possibly as much as $15.2 trillion

America’s employers added a surprisingly strong 254,000 jobs in September, the latest evidence that the U.S. labor market is still solid enough to support steady hiring and a growing economy

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for consumers