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China's economy cooled in the third quarter, expanding 4.8% year on year, its slowest pace in a year, after Beijing imposed sweeping controls on rare earth exports, jolting a fragile trade truce with the US. Growth eased…
China’s economy grew 4.8% in the third quarter, in line with forecasts, even as an ongoing property slump weighed on investment. Fixed-asset investment fell 0.5% in the first nine months—its first contraction since 2020—…
Americans interviewed by the Guardian describe shrinking carts, bare shelves and hard choices as Trump’s tariffs ripple through daily life. An S&P Global study says companies will face at least $1.2tn in extra 2025 costs…
Andrew Ross Sorkin's new book, 1929, reexamines Wall Street's crash through human drama, drawn from archives including JP Morgan partner Thomas Lamont's papers. Eschewing charts for character, Sorkin profiles Charlie Mit…
Despite predictions of surging prices following the implementation of tariffs, inflation remains surprisingly low. Economists offer several explanations: the short timeframe since tariffs were imposed, businesses stockpi…
Former economic advisor Jared Bernstein warns of a potential US debt crisis, likening the situation to unsustainable student loan debt. He notes that rising interest rates, fueled by factors including pandemic spending a…
New research reveals retired New Yorkers need $50,997 annually to cover living expenses after Social Security, totaling $1.27 million for a 25-year retirement. This makes New York the fifth most expensive state for retir…
New legislation significantly curtails US climate-friendly tax credits. The Inflation Reduction Act's (IRA) incentives for electric vehicles (EVs), home energy improvements, and solar installations are expiring soon, imp…
The US government reported a $27 billion surplus in June, a turnaround from May's $316 billion deficit. Increased tariffs, reaching $27 billion for the month, significantly boosted receipts. However, the fiscal year-to-d…
Reports suggest Federal Reserve Chair Jerome Powell may resign, a move welcomed by some who believe it would benefit the US economy. The Federal Housing Finance Agency (FHFA), which oversees major players in the US mortg…
The recently enacted tax law significantly increases the state and local tax (SALT) deduction cap from $10,000 to $40,000 by 2025, with annual adjustments thereafter. This primarily benefits high-income taxpayers ($500,0…
Copper prices surged to a record high in the U.S. after President Trump announced a 50% tariff on copper imports. Futures briefly spiked 17% before settling at a 13% increase. Analysts predict a short-term price rise due…
President Trump's "One Big Beautiful Bill" includes provisions boosting the housing market. Key changes restore mortgage insurance deductions, expand low-income housing tax credits, and increase state and local tax (SALT…
The Supplemental Nutrition Assistance Program (SNAP) provides crucial food assistance to millions of Americans, including families with children, working families, and those with disabilities. While SNAP helps alleviate …
The US dollar has experienced its worst first-half decline since 1973, falling over 10%. This drop, occurring despite a strong US economy, is attributed by some to chaotic policies, rising national debt, and deep politic…
Globally, birth rates are at a historic low, prompting concerns about workforce shortages and economic impacts. Fewer women are choosing motherhood, driven by increased career opportunities and economic independence. Whi…
Treasury Secretary Scott Bessent announced that the US will reinstate high tariffs on August 1st if trade deals aren't finalized. This reverses a previous tariff pause and contradicts earlier statements from President Tr…
OPEC+ unexpectedly boosted its oil production increase for August by 548,000 barrels per day, exceeding prior expectations of 411,000. This decision, driven by Saudi Arabia, aims to capitalize on strong summer demand and…
BRICS+, the expanded group including BRICS nations and partners, now boasts 20 members representing 43.93% of the global economy and 55.61% of the world's population. Vietnam's recent addition is significant, demonstrati…
FICO will incorporate buy now, pay later (BNPL) loan data into some credit scores starting this fall. This affects 15% of American adults who used BNPL in the past year, primarily low-to-middle income individuals, women,…
The US national debt has reached $37 trillion, fueled by recent tax cuts. This has led to a weakening dollar and increased borrowing costs, raising concerns about the long-term sustainability of US debt. Experts like Ray…
Trump's new bill, projected to increase the US deficit by $3.4 trillion over a decade, is causing alarm among economists. They warn that the already high national debt, coupled with the bill's increased spending and tax …
Trump's tariffs initially caused US stock market drops and import surges, followed by a rebound in stocks and a slowdown in imports. While inflation remains low, economists warn that higher prices are likely to hit consu…
Conflicting job reports emerged this week. The official Bureau of Labor Statistics (BLS) report showed a 147,000 job increase in June, with unemployment falling to 4.1%. However, the ADP private sector report indicated a…
Treasury Secretary Scott Bessent dismissed Moody's credit rating downgrade of the US as a lagging indicator, attributing it to long-term debt increases and not solely to current administration policies. He cited conversa…