Exports from the European Union’s 27 member states to the United States reportedly dropped 10% year over year in June due to new U.S. tariffs. These exports were gauged at €40 billion in June after having reached a record high of €72 billion in March...
The July retail sales report showed solid spending overall, but a deeper dive into category-by-category spending reveals a bit of give and take. The households budgets in the paycheck-to-paycheck economy are still pinched, and consumers used July to stock up in a few key discretionary...
The long-predicted U.S. boom in prediction markets may finally be arriving. Provided, of course, that the industry can navigate two treacherous shoals: U.S. financial regulation and the emerging problem of “crypto whales” that can sway outcomes. Prediction markets, or platforms where traders buy and sell...
The U.S. debt clock didn’t just notch another record Tuesday (Aug. 12), it smashed it. The deficit blew past $37 trillion, effectively creating a shadow benchmark that could soon rival the Federal Reserve’s policy rate in steering borrowing costs across the economy. According to the...
President Donald Trump said Tuesday (Aug. 12) that Goldman Sachs and CEO David Solomon should replace the bank’s chief economist and disputed the bank’s predictions about the effects of U.S. tariffs. “They made a bad prediction a long time ago on both the market repercussion...
European car exporters are wrestling with uncertainty surrounding American tariffs despite a recent trade deal. That’s according to the CEO of Wallenius Wilhelmsen, operator of one of the world’s biggest car-carrier fleets, who discussed the issue in a Tuesday (Aug. 12) interview with Reuters. The U.S. and European...
Inflation’s steady, but the puts and takes of the July reading from the Bureau of Labor Statistics shows there’s no real respite for households navigating a paycheck-to-paycheck existence. The Consumer Price Index (CPI) was up 0.2% in July according to the Tuesday (Aug. 12) release,...
After years of rapid wage growth for low-income workers in the United States, a slowdown has set in, The Wall Street Journal reported Monday (Aug. 11). According to the latest government jobs report, average earnings for workers in the leisure/hospitality space rose 3.5% year over...
Bank of America strategists reportedly lowered their Treasury yield forecasts Monday (Aug. 11), saying recent developments have increased the likelihood of lower interest rates. The strategists lowered their year-end forecast for two-year yield from the previous 3.75% to 3.5%, and cut their forecast for 10-year...