Inflation remained stubbornly high in January, as grocery, gasoline and shelter costs all rose. Egg prices saw their biggest price hike in almost a decade.

Powell was also asked about the high cost of home ownership and President Trump's trade policies, but as usual, the Fed chair tried to steer clear of politics.

Federal Reserve chairman Jerome Powell told a Senate committee that he and his colleagues are in no hurry to cut borrowing costs, so long as the job market is holding up and prices continue to climb.

The "China Shock" is revisited, and it raises questions about why economists failed to see the costs of free trade.

President Trump announced 25% tariffs on steel and aluminum imports. Critics say the tariffs will increase the cost of canned foods for U.S. consumers.

President Trump has called for a 25% tax on all imported steel and aluminum. That could give a helping hand to domestic steel and aluminum producers, but also raise prices for US businesses and consumers.

A tax on all imported steel and aluminum could give a helping hand to domestic steel and aluminum makers, but raise costs for businesses and consumers that buy the metals.

The tariffs from China range from 10% to 15% and are applied to crude oil, liquefied natural gas, farm machinery and select other products from the U.S.

NPR's Ayesha Rascoe talks with economist Mary Lovely of the Peterson Institute about trade deficits and the role they play in international trade.

China's tariff's on U.S. agricultural exports hit American farmers hard back in 2019. NPR's Scott Simon speaks with farmer Josh Gackle about the impacts of another round of such tariffs.