John Ydstie

The nation's unemployment rate fell below 4 percent for the first time in more than 17 years. That's according to the government's monthly employment report released Friday. Employers added 164,000 workers to payrolls.

Consumers didn't keep up with the blistering pace of spending, which meant slower economic growth. But recently, growth has tended to pick up momentum later in the year.

For the first time in four years, the rate on the 10-year U.S. Treasury note crossed 3 percent. While it signals a stronger economy, it makes bonds more attractive investments, undermining stocks.

The U.S. steel industry has enjoyed protection from foreign competitors since the 1790s. It says new import tariffs are actually just leveling the playing field and shouldn't be labeled "protection."

China responded to a U.S. threat of additional tariffs with a long list of its own. The two sides will likely spend the next few months trying to negotiate a solution that will avert a trade war.

China has imposed tariffs on a long list of U.S. produced goods in retaliation to U.S. imposed tariffs on Chinese steel and aluminum. Beijing's list is long on fruits and nuts, but also includes pork products and some manufactured goods.

The Commerce Department revises its growth estimate upward to 2.9 percent for the fourth quarter. Consumer spending helped fuel the faster pace, but import purchases subtracted from growth.

The U.S. stock market rocketed higher as fears of a possible trade war with China eased. The two countries have begun talks aimed at avoiding tit-for-tat sanctions that could damage both sides.

Historically, both sides usually lose in trade wars. But, one side often loses more than the other. While China could be hurt by the Trump administration tariffs, U.S. consumers, companies and our allies could end up being damaged more.

The central bank raised its key interest rate for the first time under Jerome Powell, announcing a quarter-percentage-point hike. Economists wonder if faster growth will mean more aggressive hikes.

The accusation varies from country to country, but it often has to do with governments subsidies and protections that the U.S. says harms U.S. producers.

The president promised steel and aluminum executives that he will levy tariffs on imports of their products in coming weeks. The tariffs will be 25 percent for steel and 10 percent for aluminum.

The central bank remains on track to boost rates gradually, Jerome Powell told Congress on Tuesday in his first testimony as Fed chairman. He said he has seen the economy picking up since December.

The whiff of inflation sent the stock market tumbling recently. Inflation data released last week did show a pick-up, but it's not yet clear that the increase will be sustained.

The federal government's funding lapsed after Sen. Rand Paul stalled a vote. Also, a look at recent swings in the stock market and how the fight against ISIS in Syria is getting more complicated.

Stocks were down sharply on Thursday in a selloff that took the Dow Jones industrial average down more than 1,000 points.

Wall Street's roller coaster continued Thursday, with all the major stock indexes posting drops of about 4 percent amid inflation concerns. The market has now tumbled 10 percent from its recent peak.

U.S. employers added 200,000 jobs to payrolls in January, a big improvement from December. The Labor Department report, released Friday morning, showed unemployment unchanged at 4.1%. But there was one surprise: African-American unemployment shot up after hitting a record low in December.

As she leaves the Fed's top job, Janet Yellen gets high marks for the way she resisted calls to raise interest rates as the economy began recovering. Instead, she was determined to boost job growth.

Laurence Fink, CEO of the investment firm BlackRock, is telling other CEOs they need to do more than just deliver profits. In a letter published by The New York Times, Fink says companies must show how they are making positive contributions to society.