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.

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.

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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Commerce Secretary Wilbur Ross is under the microscope again, amid fresh allegations of meddling with a government scientific agency.

The latest storm to engulf the secretary began Sept. 1, when weather forecasters in Birmingham, Ala., issued a tweet saying Hurricane Dorian posed no threat to their state.

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There are some fresh signs that the U.S. economy is slowing in the monthly jobs report out this morning from the Labor Department. Employers added only 130,000 jobs in August. Now, that's less than forecasters had expected, and it's a sharp slowdown from where we were this time last year. NPR's Scott Horsley is with me now in studio.

Hey, Scott.

SCOTT HORSLEY, BYLINE: Good to be with you, Noel.

KING: So this report comes at the end of a week where there were some mixed signals about the economy. What do we think it's telling us?

Updated at 5:05 p.m. ET

U.S. employers added 130,000 jobs in August, according to a monthly snapshot from the Labor Department, signaling a slowdown in the pace of job growth.

Forecasters surveyed by the Reuters news service had predicted job gains of around 158,000.

The unemployment rate held steady at 3.7%.

The jobs total would have been lower without the addition of 25,000 temporary census jobs. Job gains for the two previous months were revised downward by a total of 20,000.

A lot of American companies that make or buy products in China are starting to rethink that, as a new round of tariffs takes effect this weekend. But Robert D'Loren doesn't have to worry. As CEO of the Xcel Brands clothing company, he began moving production out of China some time ago.

Copyright 2019 NPR. To see more, visit https://www.npr.org.

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The Trump administration struck a tentative deal to lift tariffs on imported tomatoes from Mexico. But importers warn the agreement could still put protectionist roadblocks in the path of $2 billion worth of the produce.

Mexico supplies more than half the fresh tomatoes sold in the U.S., and imports have more than doubled since 2002. Florida growers, who used to dominate the market for tomatoes in the winter and spring, have long complained that Mexico unfairly subsidizes its tomato crop.

Congressional budget forecasters are predicting more red ink — nearly $1 trillion this year — as a result of the bipartisan spending agreement lawmakers struck this summer.

The nonpartisan Congressional Budget Office now says the federal deficit will hit $960 billion in fiscal 2019 and average $1.2 trillion in each of the next 10 years.

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