President Donald Trump threatened to raise tariffs on Apple and the European Union in Friday (May 23) posts on Truth Social. “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America...
American business activity and sentiment improved in May but remain muted amid ongoing tariff turmoil. That’s according to the S&P Global flash May composite index, released Thursday (May 22) and showing expectations for future output improving following the lows seen in April. “However, they both remained historically subdued amid...
The job market remains resilient amid economic uncertainty, analysts said Thursday (May 22) after government data showed a decline in initial claims for unemployment insurance. That number decreased by 2,000 during the week ended Saturday (May 17), the Department of Labor (DOL) said in a...
Consumers are tightening their grips on their wallets — digital ones and the ones kept in pockets and purses — and yet eCommerce sales still are showing momentum, though the gains are slowing. This week, the Federal Reserve detailed that in the first quarter of 2025, U.S....
A more multipolar system of trade and capital could emerge from the current disruptions caused by tariffs, Citi CEO Jane Fraser wrote in a Friday (May 16) blog post. Tariffs have disrupted trust, supply lines and planning cycles, and their impact will take time to...
JPMorgan Chase CEO Jamie Dimon said Monday (May 19) that the markets have not accounted for the risks of inflation, stagflation, credit spreads, tariffs and other challenges. Dimon said at the bank’s investor day that the chances of inflation and stagflation are greater than people think;...
Consumer gloom is not quite at historic levels — but it’s awfully close. Households are worried about inflation, about their own pressured finances as incomes and purchasing power weakens. They’re worried about tariffs. The University of Michigan’s preliminary May reading on consumer sentiment, released Friday...
The headline number from the Consumer Price Index released Tuesday (May 13) by the Bureau of Labor Statistics indicated that inflation grew at its slowest pace in more than four years. However, the puts and takes indicated that key spending categories, such as shelter, are...
Economically, it’s starting to feel like the height of the pandemic. Consumers in the United States, warily eyeing the impact of the President Donald Trump administration’s global trade war, are increasingly worried about higher prices on everything from Mexican avocados to China-made iPhones. Shoppers expect...