Financial advisor recaps economic challenges from 2025

MILWAUKE (CBS 58) -- Carson Biber, a financial advisor with Drake & Associates, joined us Monday, Feb. 9 to take a look at some of the biggest economic stories from 2025.

Biber highlighted tariffs as a major theme, which he said cost Americans an estimated $158 billion and causing stock market volatility. More than one million Americans lost jobs throughout the year, including over 300,000 federal workers.

Inflation remained stubborn despite falling briefly to 2.4% in April before rising back to 3% by year's end. The Federal Reserve cut interest rates to prioritize the difficult job market.

Biber recommended reviewing budgets and paying down high-interest debt to prepare for continued economic challenges in 2026.

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