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...
Everyone seems to have an opinion on trade policies and tariff rates these days. But the ones that matter are from the companies that need to plan in accordance with their fluctuations. Increasingly, U.S. companies appear to be placing their bets that the White House’s...
The news that consumers expect to see a slowdown in inflation is, arguably, optimistic. As PYMNTS reported Monday (June 9), the Federal Reserve Bank of New York’s latest reading on inflation expectations indicates that households see declines in inflation’s growth — we emphasize the “growth”...
When the thermometer starts to climb this summer, your electric bill will likely climb with it. That’s according to recent figures from the U.S. Energy Information Administration (EIA), showing that the average American home will spend around $186 per month on electricity during June, July...
Will this be a long, hot summer for the U.S. economy? As The Wall Street Journal (WSJ) reported Sunday (June 8), while job growth held steady last month and unemployment remains lower, there are still risks facing the American economy. For one, the labor market...
American consumers likely saw somewhat faster inflation last month, especially for merchandise. That’s according to a report Sunday (June 8) by Bloomberg News, citing a survey of economists. That survey projected a 0.3% uptick in the price of goods and services — excluding volatile food...
The paydowns earlier this year were temporary. And as the latest consumer credit data from the Federal Reserve on Friday (June 6) indicated, consumers turned to credit as a way to pay for goods and services, in an April rush that indicates they sped up...