Numbers (Economic, not Mosaic)
Ever-changing economic headlines are keeping consumers on their toes.
Yesterday, President Trump announced he’s paused some of Monday’s tariffs on Mexico and Canada until April 2nd—exempting goods already covered by the United States-Mexico-Canada Agreement (USMCA), a deal negotiated during Trump’s first term. A day earlier, he issued a one-month exemption for the auto industry.
Wall Street appears tired of the whiplash; despite a reduction in tariffs (which investors typically like), the S&P 500 fell 1.8% yesterday, and the Dow dropped 1%.
In the jobs realm, the Department of Veterans Affairs announced plans to cut over 80,000 workers; the IRS is preparing to halve its 90,000-person workforce; and the CDC… un-fired 180 employees. Meanwhile, private-sector hiring slowed to just 77,000 in February. It’s the weakest growth since July, compounding concerns of economic slowdown.
CHRISTIAN PERSPECTIVE
Too often, we let eternally insignificant things like the ups and downs of the market control us. Seeking to steward money well is a good thing, but keep your focus on the Giver rather than the gifts.
“For you know the grace of our Lord Jesus Christ: Though he was rich, for your sake he became poor, so that by his poverty you might become rich.”
2 Corinthians 8:9 (CSB) (read full passage)