Nov 13, 2024

October inflation numbers meet forecast

Frederic J. Brown/AFP via Getty Images

Prices were 2.6% higher than a year ago. But wage growth continues to outpace inflation. Also: the history of the federal income tax.

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Wage growth continues to outpace inflation

by Mitchell Hartman

Nov 13, 2024

Price growth has moderated. Wage growth hasn't, for the most part.

In October, average hourly earnings rose 4% from the year before. Which means Americans had over 1% more disposable income to spend.

Scott Olson/Getty Images

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Why the U.S. once relied on tariffs to raise revenue — and what it would mean to go back

by Stephanie Hughes

Nov 13, 2024

President-elect Donald Trump has suggested he would cut or even eliminate income taxes, ramping up the role tariffs play instead.

90% of the federal government’s revenue came from tariffs. From the country’s inception until the 1860s, said one trade historian.

Win McNamee/Getty Images

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Trump's new advisory group

by Nova Safo

President-elect Donald Trump says Tesla, SpaceX and X chief Elon Musk and Vivek Ramaswamy, a pharmaceutical entrepreneur who ran as a Republican for president, will lead an effort to restructure the federal government, revamp regulations and try to save money. It’s not clear if the new outfit will be part of the administration — and require congressional approval — or be more like an outside think tank.

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The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Ariana Rosas Producer

Nic Perez Director/Producer

Dylan Miettinen Digital Producer

John Bruington Media Producer

Jesson Duller Media Producer

Brian Allison Technical Director

James Graham Producer, BBC

Jo Critcher Producer, BBC

Naomi Rainey Producer, BBC

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