How 2025 could affect the economy and your money [Video]

MINNEAPOLIS — A new year brings excitement and opportunities, but when it comes to the economy, 2025 also brings uncertainty.

“It’s going to be very volatile. Things are going to go up and down and that’s why it’s so important to have that plan,” Prosperwell Financial CEO Nicole Middendorf said.

The new year will mark the beginning of President Donald Trump’s second term as President. Trump has vowed to cut taxes, decrease government spending, and increase tariffs on China, Mexico and Canada.

The Republican party also controls the House and Senate, so the party will likely have the votes to pass several economic policies that could affect American consumers.

“A lot of these things will be good things, potentially, but some things like tariffs might be painful from a short-term standpoint,” Middendorf …