The U.S. economy remains solid, but tariff-driven uncertainty is complicating the Federal Reserve’s efforts to balance price stability and maximum employment, Federal Reserve Governor Lisa D. Cook said Tuesday (June 3). In a speech delivered at the Council on Foreign Relations in New York, Cook...
The Federal Reserve’s System Open Market Account (SOMA) saw its net income decline for the second year in a row in 2024 and could see another drop in 2025, the New York Federal Reserve said in a report released Tuesday (June 3). The losses slowed...
America’s vacation hot spots have cooled somewhat less amid a decline in overseas travel. “There used to be thousands of people from Canada. They would give me Canadian dollars and I would change it at the bank,” Omar Tallat, 35, who runs a corn dog...
JPMorgan Chase CEO Jamie Dimon reportedly said Friday (May 30) that after excessive spending by the U.S. government and quantitative easing by the Federal Reserve, a crack in the bond market is “going to happen.” Speaking at the Reagan National Economic Forum, Dimon said, per a Bloomberg report, “I...
April’s data on inflation and consumer activity show slowing price increases, a boost to savings and a deceleration in spending, too. The Personal Income and Outlays data, released on Friday (May 30), indicates prices were up only slightly month on month and 2.1% year on...
The trade war sparked by new U.S. tariffs has reportedly cost companies over $34 billion in lost sales and higher costs. Reuters made that estimate in a report posted Thursday (May 29), saying it got that figure from estimates made by 32 companies whose stocks...
Tariffs are in limbo. GDP is shrinking. CEOs are pessimistic. And consumers are caught in the middle of all the uncertainty, buffeted by rising prices and an uncertain employment picture. On Thursday (May 29), the Bureau of Economic Analysis released its latest estimate of GDP –...
While inflation and prices remain Americans’ top financial concerns, a smaller percentage of U.S. adults said changes in prices made their finances worse in 2024, the Federal Reserve Board said in a Wednesday (May 28) press release. “Sixty percent of adults said that changes in...
Think consumers are worried about how much more they’ll pay this summer for a new sofa or barbecue grill thanks to the President Donald Trump administration’s global trade war? Consider the state of mind of 200,000 mid-sized companies that account for one-third of private sector...