A month and a half since the Federal Reserve’s last Beige Book, which takes the pulse of the economy through observations of businesses and community conditions across the central bank’s 12 districts, hiring is slowing and tariffs have weighed on corporate hiring decisions. Demand for...
Just before tariffs took root in April, PYMNTS Intelligence found in its “Certainty Project” report that a majority of firms across various sectors anticipated higher costs. At the time, 42% of services firms said they were considering raising prices on their products, and 3 in...
Private sector job growth slowed in May, declining to the lowest level seen in two years, ADP said Wednesday (June 4). The private sector added 37,000 jobs during the month, a figure that was down from the revised total of 60,000 jobs added in April...
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...