OAN’s Alicia Summers
3:37 PM – Thursday, May 8, 2025

The U.S. economy may be cooling, with the Fed holding firm on interest rates despite inflation cooling, citing concerns about the risks of rising inflation and unemployment, partly due to the uncertainty around tariffs. However, today’s jobless numbers are telling a different story, as new jobless claims fell sharply by 13,000 to 228,000. At the same time, the markets are surging on news of a major new trade deal with the UK, one that slashes tariffs and opens the door to billions in U.S. exports. Joining Alicia Summers is Jeffrey Small, Managing Partner of Retirement Income Source and Economic Strategist based in Melbourne, Florida, to break this down.