John Ydstie

The U.S. has been pressured to respond forcefully to the killing of journalist Jamal Khashoggi in Saudi Arabia's consulate in Istanbul, Turkey. Members Of Congress urge sanctions against Saudi Arabia.

The U.S. economy is in a sweet spot, with unemployment at a near 50-year low and an inflation rate that's low and stable. But that combination — low unemployment and low inflation — has economists at the Fed wondering if a theory they've had about how the economy works is still relevant.

Commerce Secretary Wilbur Ross said tariffs on U.S. allies were necessary to prevent China from "trans-shipping" goods through those countries. He also said China would not change its policies if the U.S. doesn't continue to apply pressure.

The Fed boosted a key interest rate again — its seventh hike since 2015. The move, which was expected, will trigger higher rates on credit cards, home equity lines and other kinds of borrowing.

Mary Buchzeiger's auto parts company may be fighting for its life if it doesn't get relief from Trump's proposed tariffs. "They're attacks on U.S. companies that are using Chinese goods," she says.

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."

President Trump says he intends to impose stiff tariffs on imported steel and aluminum. Many experts say the costs of such a policy will far outweigh the benefits.

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.

"Baby Bonds" are back in the news. Two professors presented their idea to do something about widening inequality to an economics conference. They suggest creating an education trust fund for each newborn. The grants — ranging from $500 to $50,000 — would be on a sliding scale tied to household income.

The House tax plan differs significantly from the version being sculpted in the Senate. Both plans seem to agree that a big corporate tax cut is needed. The president wants a tax measure by Christmas.