As Americans have raised concerns about rising prices, a possible recession, a cooling labor market and an ongoing government shutdown in recent months, economists have warned the U.S. economy may be “K-shaped,” with spending trends becoming divided among low- and high-income consumers.

President Donald Trump touted his administration's efforts to boost private sector job creation and shrink the federal government's workforce in an economic speech.

Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.

Treasury Secretary Scott Bessent said Sunday he believes some sectors of the economy are in a recession or at risk of one, blaming the Federal Reserve for not cutting interest rates fast, just one day after newly appointed Federal Reserve Governor Stephen Miran warned of high interest rates triggering a recession in an interview with The New York Times.

Bloomington and IU Columbus did their best to look into a crystal ball to predict economic conditions locally, statewide, and for the United States in 2026 during a panel Wednesday.

Shares in Europe and Asia have retreated following a broad decline on Wall Street spurred by selling of Big Tech shares.

U.S. services sector activity picked up in October amid a solid increase in new orders, but subdued employment pointed to lackluster labor market conditions against the backdrop of economic uncertainty stemming from tariffs on imports.

Prime Minister Mark Carney’s government said it would cut the size of the federal public-sector workforce by about 5%, or 16,000 jobs.