“During his campaign and the early part of his current presidency, President Donald Trump promised an economic boom that would take off upon his return to the White House — reviving the American Dream and producing four years of unparalleled prosperity,” the New York Times reports.

“But Trump’s tone, and that of his aides, has shifted notably in recent weeks, as they warn of sacrifice and ‘transition’ until, by their telling, his heavy tariffs pave the way for a boom. Trump has spoken of the need to take economic ‘medicine,’ warned Americans they may need to cut back on items like dolls and pencils, and suggested a short-term recession might be an acceptable cost for the prosperity he predicts will come.”

“President Donald Trump and his top aides have settled on a decidedly non-Trumpian message for American businesses and consumers panicked by his trade war: Be patient,” Politico reports.

“Ahead of the next stage of economic fallout, that plea is already wearing thin.”

“U.S. manufacturers and retailers are bracing for a massive drop-off in goods arriving from China, as ports across the West Coast warn of a plunge in shipments not seen since the early days of the Covid pandemic.”

“The faltering economy is starting to become a drag on the housing market,” the Washington Post reports.

“Real estate agents, developers, home buyers and economists are all trying to make sense of which way trends are heading. Slower growth — the economy shrank at the beginning of 2025 — means interest and mortgage rates will probably stay high for the foreseeable future. Stock market swings and flagging consumer confidence are pushing buyers out of the market. President Donald Trump’s trade war is adding thousands to construction costs for new homes and remodels.”