Name: The U.S. Economy Is Resilient but Cracks Are Showing. Here’s Why.
Uploaded: 2025-08-07T04:01:00Z
Duration: 5 min 45 s
Description: Economists braced for the worst when President Trump announced his tariff plan in April, yet the U.S. economy remained resilient. Here’s how that strength could be tested in the coming months.

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"We're trying to build an infrastructure at a pace the world has never seen before," Said Mike Intrator, CEO of CoreWeave. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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CoreWeave CEO on Whether the AI Boom Is a Circular Economy

"The promise of AI is starting to get traction," said Mike Intrator, CEO of CoreWeave. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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CoreWeave CEO on the Future of the 'AI Economy'

"Nvidia has been an absolutely incredible partner for CoreWeave," said Mike Intrator, CEO of CoreWeave. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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CoreWeave CEO on the Company's Relationship With Nvidia

Mike Intrator, CEO of CoreWeave, discussed the company's investments in self-built data centers, as well as third-party infrastructure. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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CoreWeave CEO on the Company's Data Centers

Mike Intrator, CEO of CoreWeave, explained why the company's relationship with Nvidia is "symbiotic but not equal," the future of the AI economy, and more as part of a conversation with Barron's editor at large Andy Serwer. This interview was recorded on Jan. 21, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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CoreWeave CEO on Nvidia, AI, and Building the Cloud

Joseph Dominguez, President and CEO of Constellation, discussed global aspects of the energy business. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Constellation CEO on Transmitting Energy Globally

Joseph Dominguez, President and CEO of Constellation, discussed the future of the electric vehicle industry. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Constellation CEO Sees Steady Growth for EV Demand

Joseph Dominguez, President and CEO of Constellation, discussed President Donald Trump's call for an emergency power auction. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Constellation CEO on Trump's Plan to Cut Mid-Atlantic Electrical Bills

This level of energy demand has not been seen "in a long period of time," said Joseph Dominguez, President and CEO of Constellation. This interview was recorded on Jan. 20, 2026, at the World Economic Forum meeting in Davos, Switzerland.

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Constellation CEO on What Hyperscalers Mean For the Energy System

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"Your 9-5...is just not going to do it," Nick Magguilli, personal finance expert, said on Barron's Streetwise podcast.

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How to Scale Your Net Worth

TJ Thornton, Head of Global Research Product Marketing at BofA Securities, talks to Jack Hough about his favorite stocks outside of AI.

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BofA’s Favorite Non-AI Stocks

Jack Hough talks to TJ Thornton, Head of Global Research Product Marketing at BofA Securities about diversifying stocks to hedge AI risks.

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Evaluating Investing Opportunities Beyond AI

Steve Quirk, chief brokerage officer at Robinhood, breaks down the value of tokenizing stocks in different markets.

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Unpacking Tokenization for Everyday Investors

Jack Hough talks to Steve Quirk, chief brokerage officer at Robinhood, about trends in retail investing.

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How Robinhood Reshaped the Trading Landscape for an Entire Generation

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AI vs. The Dot Com Bubble

Bank of America’s Haim Israel shares what’s next for Nuclear Energy development.

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The Outlook For Nuclear

Jack talks to Lyft CEO David Risher about growth potential in the company.

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Lyft's Ride to Profit

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Dividends and Capital Appreciation

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Anthea Tjuanakis Cox, Morgan Stanley’s head of financial planning, discusses key trends that advisors should consider when offering clients financial advice.

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Five Trends ‘Coalescing’ in Wealth Management

Interviews with top wealth management professionals about topics including compensation, hiring, marketing, next-gen, and more.

Advisors who can successfully serve a family with starkly different priorities represents the "alpha" that deepens the value of financial advice, says Anthea Tjuanakis Cox, Morgan Stanley’s head of financial planning.

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Reconciling Divergent Values in Multigenerational Planning

For younger clients, advisors should discuss immediate life goals, not just distant  milestones, says Anthea Tjuanakis Cox, Morgan Stanley’s head of financial planning. “‘Make sure that you bring in the things that are actually relevant now.”

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Generational Differences and Advising Digitally Native Clients

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Advisors Should Share ‘Multiple Versions of Reality’ With Clients

“When you are with a prospect, a client, or a center of influence—anyone who has the ability to connect you—use the word introduction or connection,” says Bill Cates, founder of Referral Coach International.

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Why Advisors Should Embrace the Word ‘Introduction’

Bill Cates, founder of Referral Coach International, explains how advisors can learn more about their clients and build trust in the process.

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‘Three Magic Words’ That Advisors Should Say to Clients

“True relevance is all about empathy and really knowing your market and really knowing the people you are trying to reach,” says Bill Cates, founder of Referral Coach International. “That builds trust.”

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Relevance, Empathy, and Trust

Bill Cates, founder of Referral Coach International, describes how financial advisors can distinguish themselves from competitors.

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What’s Your Differentiator?

Although the northeast is still a “very strong market,” advisors and wealthy clients have been moving to the Southeast since Covid, says Jeff Gonyo, head of Wealth Management at Steward Partners.

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Advisors and Wealth Are Shifting to the Southeast

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Emily Green, head of wealth management at Ellevest, discusses the company’s intensive approach to training advisors on alternative investments.

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How Ellevest Works With Advisors and Alternative Investments

Clients are concerned with the timing of distributions and the after-tax return of a fund and focus more on the value they receive than a fund’s fees, says Emily Green, head of wealth management at Ellevest.

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The Things That Clients Care Most About

Emily Green, head of wealth management at Ellevest, says advisors should “show up” where women are, be sensitive about how they are showing up, and focus on helping clients achieve their goals.

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Three Effective Ways for Advisors to Reach More Women

Ellevest’s head of wealth management discusses how the firm is addressing the gender wealth gap and how its advisors are helping female clients with all aspects of financial planning.

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Emily Green: Women, Investing, and the Great Wealth Transfer

The Ameriprise Financial Services private wealth advisor discusses the centrality of the advisor-client relationship, the shift to holistic planning, and reasons why the financial planning process should be simplified.

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Doug Messina: The Importance of Strong Client Relationships

In terms of business continuity, “We don't leave until the client says, ‘yeah, I'm comfortable with so and so now and I know how to reach you if I need you,’” says Doug Messina, private wealth advisor with Ameriprise Financial Services.

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Transitioning Clients to a New Financial Advisor

“If you’re only hyper-focused on what’s happening in the market, it’s not going to do a whole heck of a lot,” says Doug Messina, private wealth advisor with Ameriprise Financial Services.

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‘You Have to Be Able to Connect With People’

Be honest, be yourself, and “put yourself in the client’s position,” says Doug Messina, private wealth advisor with Ameriprise Financial Services.

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3 Pieces of Advice for Younger Advisors

Advisors need to “invest in the younger folks,” says Merrill Lynch private wealth advisor Tony Carpentieri, who asserts that developing “energetic, new, up and coming, and emerging players is the most important part” of succession planning.

https://m.wsj.net/video/20251204/b5efe5ba-edf5-4dc7-9040-2739b43dd9c4/1/hls/manifest-hd-wifi.m3u8

The ‘Most Important’ Part of Succession Planning Today

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Finding Bargains in a Pricey Market

Explore what could go right for investors, and what could go wrong, in a year that will see the AI trade evolve, the Fed's leadership change, and global competition for resources increase in this 2026 Outlook.

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Meeting the Challenge

Stocks are expensive, risks abound, and AI is about to change the world. Other than that, building a calamity-proof retirement portfolio should be a cinch. Tune in as two veteran money managers size up the markets and share their investment ideas.

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Saving for a Sunny Day

Research shows that people greatly underestimate the healthcare costs they’ll face in retirement. Learn from experts how to estimate those costs, prepare for potential long-term care needs, and manage healthcare expenses in retirement.

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Are You Fiscally Fit?

Surging power demand, new energy sources, and growing competition have spurred the utility industry to become more innovative than ever before. Our panelists will unpack the changes afoot and explore what lies ahead for companies, customers, and investors.

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Not Your Father's Utility

Modernizing America's grid will take creativity and money -- lots of money. Learn how players across the power sector can achieve their electrification goals and serve new customers without breaking the bank for consumers.

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Ready for a Revamp?

The launch this year of Bitcoin ETFs has made it easier for investors to buy and trade the cryptocurrency. But is that a wise move, and if so, how much crypto should you own?

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Investing in Cryptocurrencies

Bitcoin and other digital currencies reside on software networks that aim to revolutionize everything from finance to art. Barron's talks to industry experts about the outlook for blockchain technology and its potential uses.

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Is Crypto Really a Game-Changer?

Persistent inflation means retirement savings don't go as far as they once did. We discuss the best inflation hedges, and how retirees can benefit from higher-for-longer interest rates.

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Protecting Your Nest Egg from Rising Prices

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Whether you're leading a transition, building a scalable team, or just trying to stay ahead of the curve, this episode will give you practical insights to lead smarter and grow stronger.

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Next-Gen Leadership Meets Smart Innovation

Electric vehicles sales are growing but not at the pace some expected. Some would-be buyers worry about the range of EV charging, and others are swayed by politics. But innovators from Detroit to Silicon Valley still envision a dramatic shift in how we get around. What’s going on and what’s next?

https://m.wsj.net/video/20240603/5784fa60-791c-47ad-9740-42e4553de5c4/1/hls/manifest-hd-wifi.m3u8

Forces Shaping EV Adoption and the Future of Driving

Success in improving the power grid to accommodate the electricity demands of the future will be a boon for companies doing the work and utilities that succeed. Explore the investing risks and opportunities.

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How to Invest in Initiatives to Bolster the Power Grid

Joanna Rotenberg, Fidelity's president of personal investing, discusses ways to make investing more accessible and how to bolster your own financial security.

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Mind the Gap: Demystifying Investing

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Decoding the College Search and Financing Puzzle

Nicole Webb, financial advisor and SVP at Wealth Enhancement Group, shares ways to navigate the real estate market this spring whether you are a first-time buyer, a retiree downsizing or someone who is relocating or looking for a second home.

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Pro Tips on Buying and Selling a Home

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Financial Advice for the Inflation-Weary

Families and advisors have a lot to navigate when it comes to generational wealth transfer. Add sustainable investing to the list. Examine strategies to help close the generational divide. From the Dow Jones Energy & Sustainability event series.

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Sustainable Investing and the Wealth Transfer

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Economists braced for the worst when President Trump announced his tariff plan in April, yet the U.S. economy remained resilient. Here’s how that strength could be tested in the coming months. Photo Illustration: Annie Zhao

https://m.wsj.net/video/20250806/755b3301-d7ea-4561-8ca5-759f49e450ce/2/hls/manifest-hd-wifi.m3u8

Economists braced for the worst when President Trump announced his tariff plan in April, yet the U.S. economy remained resilient. Here’s how that strength could be tested in the coming months.

The U.S. Economy Is Resilient but Cracks Are Showing. Here’s Why.

Narrator: The US economy is facing a make or break moment.

And our country's becoming very rich.

Narrator: Key economic data is painting a murky picture. Inflation has so far defied the worst of economists' expectations, and the US consumer remains strong, but pockets of weakness in the labor market and slower growth are raising red flags.

I think most economists expected this summer to really be that period where, you know, you begin to see the effects, and I think we're now like we're right at that doorstep.

Narrator: So why has the US economy remained so resilient despite Trump's steep tariffs, and are the cracks beginning to show? Let's first take a look at where President Trump's tariffs stand. The administration significantly hiked tariffs on virtually all US trading partners on August 7th. Some major economies, like the European Union, Japan, and South Korea face a 15% tariff. While others like Canada, Switzerland, Brazil, and India face much higher rates, upwards of 35% to 50%. China is on a different track than most other nations. Its tariff rate is set to soar unless a deal is reached.

For the world.

Reporter: What percent will that tariff be?

I would say it'll be somewhere in the 15% to 20% range.

We started the beginning of the year at a 3% average effective tariff rate. If you were taking the initial Liberation Day tariffs and you calculated out what that would mean, it could have been as high as 15%, which is a 5X higher than where we were before. Right now, we have to see where we're gonna land. We do expect above 10, right, above that 10% average. And so what this essentially means for us is that it could be inflationary.

Narrator: Trump's tariffs haven't fueled a massive spike in prices yet, although there's evidence they're starting to leave a mark. The consumer price index rose 2.7% in June when compared with the year earlier. The core measure, which excludes volatile prices like food and energy, rose 2.9%. That's a modest uptick compared to previous months, although still above the federal reserve's 2% target.

This will not turn out to be inflation, because we'll make sure that it's not. We will throw our tools, make sure that this does not move from being a one-time price increase to serious inflation.

We have started to see the effects of inflation in the most likely of areas. The big ticket items, appliances, furniture, tools, children's items, all of those things have picked up in price.

We saw a pretty rapid pickup in June relative to what we had been sort of seeing so far this year, and really practically everything rose this month. Some components set really big records.

Narrator: Gross Domestic Product, or GDP, grew at a robust annual rate of 3% in the second quarter of 2025. That was up from a half percent contraction in the first quarter and driven by strong consumer spending.

Our economics team, they have modeled out an expectation for 0.8% GDP growth for 2025 in the fourth quarter. So this is not a recession, but a slowdown.

Narrator: Combined with the first quarter's GDP figure, however, the economy grew 1.2% in the first half of the year, down from the 2.5% average pace in 2024.

What you see is a rate of growth that is slower than what it was in 2024, but isn't disastrous. It doesn't suggest that a recession is happening or that one is imminent.

Narrator: The US jobs market had been a source of strength, until July. Job growth slowed to 73,000 that month, well below expectations. The labor department also sharply revised May and June's figures by a combined 258,000 jobs.

Well, it really was a stunning downward revision, and it really sort of confirmed something we'd already been seeing in the soft data, and that is that the US economy had been slowing and been slowing fairly dramatically.

Narrator: This is a problem for the Fed, because it has a dual mandate of price stability and maximum employment. Keeping its benchmark interest rate too high could keep inflation subdued, but could also cause unnecessary damage to the job market.

This is the special situation we're in, which is we have two-sided risk, risk to both of our goals.

The labor market has been pretty clearly slowing over the course of this year. It hasn't been collapsing. I think the labor market generally for now looks like it is in balance, and so the question from a central bank perspective is how proactive do you want to be?

Narrator: The Trump administration has criticized the Fed for not lowering interest rates sooner, while defending its trade policies.

We have a great thing going. I think we're gonna have the richest economy you've ever seen.

Narrator: But given the underlying weaknesses, the second half of 2025 could be even more unpredictable than the first.

Beginning of the fall, we're gonna have significantly more clarity and understanding of not just how the market should respond to these tariff rates, but also what does it actually mean for the average consumer. And it's likely to actually start showing up as business owners can start to make well educated decisions about how much they actually have to increase prices.

We look for growth this year to be between half a percent and 1%, which is below trend, slower than it has been for the past several years, but still consistent with a pretty soft landing in economic terms. If you can go through the sorts of events that we've gone through and the sorts of policy changes that we have and still have growth-in that stays meaningfully above zero, I think that's a pretty good outcome.

Our expectation right now is for no growth in the second half of the year, sort of moving sideways, not enough to necessarily declare a recession, but it is nonetheless not the best of economic situations for most Americans as they look at it.

Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news.