Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.

Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.

Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.

Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.

Updated at 5:06 PM ET

President Trump on Friday announced what he calls "phase one" of a larger trade deal with China.

As part of the deal, a tariff increase planned for next Tuesday will not be imposed. The U.S. was scheduled to raise tariffs on about $250 billion worth of goods on October 15 from 25% to 30%.

The specifics of the deal are still being hammered out, and they haven't been signed yet. President Trump said he hopes that will happen in the next month or so. The leaders of the U.S. and China are expected to meet in November.

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The Trump administration has proposed a new rule governing the wages of tipped employees, after an earlier effort sparked a backlash from waitstaff, bartenders and other workers.

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Updated at 10 a.m. ET

U.S. employers added 136,000 jobs in September — a sign of continued resilience in the labor market amid growing signals that the economy is losing steam.

The unemployment rate fell to 3.5% — the lowest since December 1969 — but the pace of hiring has slowed from last year. The jobless rate was 3.7% in August.

Job gains for the two previous months were revised up by a total of 45,000.

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U.S. farmers, who have been hard hit by President Trump's trade wars, got some relief Wednesday, when Trump signed an interim trade deal with Japan.

The agreement calls for lower Japanese tariffs on U.S. farm exports such as beef and pork. It also locks in tariff-free digital commerce. But it does not address the president's threat to level punishing tariffs on imported cars from Japan. A top trade negotiator says Trump has no plans to act on that threat for now.

The search for the origin of the pencils led to a dusty factory in the Philippines.

An American investigator traveled there last year, trying to find out if the factory really produced the pencils, as a U.S. importer claimed, or was simply repackaging pencils from China, as a competitor suspected. Chinese pencils have long been subject to a stiff anti-dumping tariff, which would have more than doubled the importer's cost.

The Trump administration ordered new economic sanctions against Iran Friday in response to the attack last weekend in Saudi Arabia. The sanctions target Iran's central bank and its sovereign wealth fund.

"This is very big," said Treasury Secretary Steven Mnuchin. "We've now cut off all sources of funds to Iran."

The move comes less than a week after an attack on a Saudi oil facility that temporarily cut off nearly 6% of the world's oil supply. While Houthi rebels in Yemen claimed responsibility for that attack, the administration suspects Iran was behind it.

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Updated at 5:15 p.m. ET

The Federal Reserve cut interest rates Wednesday for the second time in seven weeks, in an effort to prolong the decade-old economic expansion in the face of rising headwinds.

The Fed lowered its target for the federal funds rate by a quarter percentage point, to a range of 1.75% to 2%. President Trump, who has been calling for deeper rate cuts, criticized the move as another "fail" by the Fed. Major stock indexes fell after the central bank's announcement but later recovered.

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