The Congressional Budget Office said Wednesday (Oct. 29) that the government shutdown could reduce real gross domestic product by between $7 billion and $14 billion, depending on how long the shutdown lasts. A four-week shutdown would cost $7 billion, a six-week shutdown would cost $11...
Prediction market Polymarket reportedly plans to launch trading in the United States by the end of November. The company will focus on sports betting in the U.S., and the trading will initially be limited to select participants, Bloomberg reported Tuesday (Oct. 28), citing unnamed sources....
Consumer confidence edged down in October as the outlook among Americans grew more cautious heading into the year’s final months. The latest Conference Board Consumer Confidence Index slipped by 1 point to 94.6, from 95.6 in September, marking its lowest level since spring. Beneath the...
The first inflation data since the start of the October government shutdown offered the clearest signal in weeks on how prices continue to shape household behavior. Headline inflation rose 0.3% in September following a 0.4% increase in August, pushing the annual rate to 3%, the...
The prediction-market moment is here. At its best, the embrace of events-based contracts could represent a new asset-class: event outcomes traded with derivatives-grade infrastructure transparency and liquidity. At its worst, it could serve as a potential regulatory arbitrage path around state gaming laws, one with...
PYMNTS Intelligence has been tracking the impact of tariffs on global trade and corporate strategy since they first became a flashpoint in international markets. Through direct surveys of executives across sectors, we’ve chronicled how tariffs and regulatory shifts inject uncertainty into corporate planning, and how...
The Bank of Canada says Canadian businesses are concerned tariffs will hinder their sales. That’s according to the bank’s business outlook indicator survey, released Monday (Oct. 20) and showing a slight uptick, though still in negative territory: -2.3 during the third quarter, compared to -2.4...
The Federal Reserve’s latest Beige Book paints a familiar picture of an economy searching for direction, one defined less by momentum than by hesitation. In the 56-page report released Wednesday (Oct. 15), the word “uncertainty” appears 40 times, while “optimism” surfaces only 13, a linguistic...
Inflation is pressuring American grocery shoppers, leading many to cut back and trade down. “It’s perturbing and upsetting,” Mark Bookbinder, a 68-year-old engineer who lives in Cincinnati, told The Wall Street Journal (WSJ) in a report posted Wednesday (Oct. 15) on the trend. The WSJ report added...