“Panic buying” in the U.S. could create an “artificially high” level of economic activity. That’s according to Federal Reserve Bank of Chicago President Austan Goolsbee, who discussed the uptick in purchasing by businesses and consumers in response to new tariffs Sunday (April 20) in an...
A wave of new economic surveys and projections this week will illustrate the impact of America’s tariff campaign. As Bloomberg News reports, these include a forecast from the International Monetary Fund (IMF) — expected Tuesday (April 22) — which will lower the group’s outlook for...
The number of initial claims for unemployment insurance in the U.S. fell by 9,000 during the week ended Saturday (April 12), signaling a stable labor market. The number of jobless claims dropped to 215,000, down from the previous week’s revised level of 224,000, the Department...
While Americans are worried about the economy, it hasn’t kept them from spending. As The Wall Street Journal (WSJ) reported Tuesday (April 15), Bank of America’s latest earnings report showed consumer spending increasing when tariff worries first appeared. This followed last week’s JPMorgan Chase earnings,...
J.P. Morgan Chase CEO Jamie Dimon said the President Donald Trump administration should quickly initiate negotiations with China and United States allies to end the uncertainty around tariffs. The uncertainty is making people unsure they can “rely on America,” Dimon said, in an interview with...
Chinese exporters are struggling in the face of steep new U.S. tariffs, Reuters reported Tuesday (April 15) based on interviews at the Canton Fair, China’s largest trade expo. Candice Li, marketing manager for medical device firm Conmo Electronic, said in the report that U.S. orders...
United States consumers’ expectations for inflation over the next 12 months hit the highest level since we emerged from the pandemic. The priciest hikes will make the key essentials of life, namely food and shelter, more expensive. The latest Survey of Consumer Expectations released by...
President Donald Trump has exempted electronics from his “reciprocal” tariffs, at least for now. The government announced late Friday (April 11) consumer electronic imports from China would be excluded from the steep tariffs the U.S. has imposed on that country. However electronics goods such as...
U.S. immigration policy has reportedly triggered a sharp drop in visitors from Europe. The number of travelers from western Europe who spent at least one night in the U.S. dropped by 17% year over year in March, the Financial Times (FT) reported Friday (April 11),...