Economics impacts our lives every day. Below are some of the top storylines from this past week related to economics.
o Americans are uncertain regarding the direction of theUS economy. Consumers have become more reluctant to spend, and both the services and manufacturing sectors are slowing. The Federal Reserve also faces a decision with how to handle interest rates with most economists anticipating President Donald Trump’s policies to hamper growth and drive-up prices further.
With on again, off again tariffs, business owners are unsure with how to proceed in operating their business. With demand faltering, they face dilemmas on whether or not to raise prices further, as consumers are already stretched financially. In addition, less foot traffic means that fewer workers are needed to operate stores. However, companies seem to be still haunted from COVID-era staffing issues and seem to be hesitant to let go of workers, opting instead to reduce hours or instituting more flexible scheduling. [The New York Times]
o A pioneer in economics among women, Marina von Neumann Whitman died at the age of 90 last month in Concord, Mass. Her death came from complications of pneumonia, according to her son. In 1972, Whitman became the first woman to be appointed to the White House Council of Economic Advisors after President Richard Nixon nominated her for his economic council, making her the highest-ranking women of his administration. She was the daughter of John von Neumann, a polymath who developed game theory.
Before joining the Council of Economic Advisors, Whitman served as a staff economist and oversaw price controls on the president’s board. She later served as a vice president and chief economist at General Motors in 1979. Whitman also had teaching stints where she was an economics professor at University of Pittsburgh and University of Michigan. [The New York Times]
o Popular chicken chain Dave’s Hot Chicken began in 2017 with three friends pooling $900 in the essentials, making $40 on their first night selling tenders, fries, and kale slaw. Less than a decade later, the chain has grown to 315 locations and plans to build 150 more was recently sold in a $1 billion deal.
Over the past two years, sales at Dave’s crossed $600 million, according to research firm Technomic. It is on pace for sales to double again this year. Dave’s overnight success story came down to delivering to a highly specific but valuable market, marketing their product on social media, and creating a product that customers enjoyed. It also helped that chicken is the most popular food item in US restaurants with sales growing at a three percent clip. And at Dave’s and their competitors such as Raising Cane’s, WingStop, sales increased among 24 percent among chains specializing in chicken. [The Wall Street Journal]
o Pizza has long been a go-to order for family’s looking to feed their families fast and in an inexpensive way. Pizza was one of the most popular food orders during the COVID-19 lockdowns, with same-store sales at Domino’s Pizza and Papa John’s both increasing by double digits. In 2025, low-income families are getting priced out of pizza, as same-store sales at Domino’s and Papa John’s, as well as Pizza Hut, all declined in the first quarter of the year.
Part of the explanation is the variety of takeout options and delivery services such as Grubhub and Uber Eats. In addition, people are also opting for healthier options or making homemade pizza, which could be negatively impacting pizza sales. However, consumers are feeling like they are getting less of a value than they once did. The average price for a large pizza among all pizza chains is $18.44, with the bill coming out to an average of 30 percent higher than 2019. That price increase is higher than that at burger and chicken restaurants. [Bloomberg]
o President Donald Trump’s administration is scrambling to rehire many of the federal employees that were previously laid off under DOGE’s staff and budget slashing efforts. The administration laid off too many workers, leaving crucial services such as weather forecasting and drug approval understaffed.
Officials are trying to hire back those officials who were fired, as well as those who left voluntarily. Some fired workers have already secured positions in the private sector, leaving the administration to seek workarounds and stop-gap solutions. [The Washington Post]
