The Federal Reserve wants more time to study the impact of tariffs before cutting rates. That’s according to Jerome Powell, the central bank’s chair, testifying Tuesday (June 24) that the Fed needs to see if tariffs push inflation higher before deciding on the interest rate...
The most recent inflation data indicate that the impact of tariffs overall has been thus far not been as drastic as some might have feared. But consumers are still mulling what’s to come, and the spending picture is at best mixed. On Tuesday (June 24), The...
Private equity (PE) groups are sitting on roughly $1 trillion in unsold assets. That’s capital that, in a normal market climate, would have been given back to investors, Reuters reported Wednesday (June 18), citing findings from PricewaterhouseCoopers (PwC). As Reuters notes, high interest rates in the U.S., the White...
U.S. retail and food services sales saw a month-over-month decline of 0.9% in May after slipping 0.1% in April, the Census Bureau reported Tuesday (June 17). The greatest declines were in the automotive and building materials sectors, the Bureau said in a Tuesday press release....
American companies are reportedly resorting to job cuts amid tariff-related uncertainty. More than 170 companies are expected to announce layoffs this month, Seeking Alpha reported Saturday (June 14), citing WARNTracker.com, a website that tracks cuts based on Worker Adjustment and Retraining Notification (WARN) Act notices...
Household net worth in the United States declined by 0.9% during the first quarter, according to the Federal Reserve. The figure decreased by $1.6 trillion, from $170.9 trillion in the fourth quarter of 2024 to $169.3 trillion, the Federal Reserve said in its “Financial Accounts...
The latest reading on inflation shows an overall easing in the pace of price increases. The data released Wednesday (June 11) from the Bureau of Labor Statistics showed that the impact of tariffs has been benign, or at least they were in May. But essential...
The head of America’s largest bank has a gloomy forecast for the U.S. economy. “I think there’s a real chance numbers will deteriorate soon,” J.P. Morgan Chase CEO Jamie Dimon said in reference to indicators like the labor market Tuesday (June 10), noting major upheaval...
The World Bank says tariff-related discord is threatening 80 years of global prosperity. In the latest edition of its Global Economic Prospects report, issued Tuesday (June 10), the bank reduced its global growth forecast for the year by 0.4 percentage point to 2.3%, saying that higher tariffs and...