CBO: Shutdown to Leave Up to $14B Unrecovered

 

WASHINGTON — The shutdown is costing the U.S. economy about $7 billion per month that won’t be recovered, the nonpartisan CBO told House Budget Chair Jodey Arrington. For four-, six-, and eight-week durations, unrecovered losses are $7 billion, $11 billion, and $14 billion (2025 dollars). Spending is falling as over...

Trump, Xi Seek to Cool Trade Standoff

 

Gyeongju, South Korea — Presidents Donald Trump and Xi Jinping meet Thursday on APEC’s sidelines, with US officials signaling a pause on China’s rare earth export controls and new US tariffs. The talks follow threats of sweeping measures—Beijing’s curbs and Trump’s potential 100% tariffs—that economists warn would devastate growth. Experts...

Fed set for second rate cut amid uncertainty

 

The Federal Reserve is expected to cut its benchmark rate by a quarter point Wednesday—its second in six weeks—as officials prioritize a weakening labor market over still-elevated inflation. Layoff announcements are piling up, including Amazon’s 14,000 corporate cuts, Target’s 1,000 plus 800 unfilled roles, and about 100,000 federal jobs cut...

Fed Seen Cutting Rates, Weighing Early QT End

 

With a rate cut expected Wednesday, attention is shifting to whether the Federal Reserve will halt quantitative tightening amid mounting funding strains. Repo rates have brushed the Fed’s ceiling, driving reluctant use of its Standing Repo Facility and sparking debate over reserves. Wrightson ICAP expects runoffs to end now; Barclays...

SNAP Halt, Trump in Japan, Melissa Looms

 

More than 40 million Americans may lose SNAP aid Nov. 1, as the administration says no funds remain and the USDA rejects using contingency money, blaming Democrats amid the ongoing shutdown. In Japan, President Trump addressed U.S. troops, praised newly elected Prime Minister Sanae Takaichi, and signed a rare earths...

Home Price Gains Lag Inflation Amid High Rates

 

U.S. home-price growth cooled in August, rising 1.5% year over year versus 1.6% in July, the Case‑Shiller index shows, trailing 3% inflation and marking a fourth straight month of real equity erosion. Nearly all metros fell month to month except Chicago. Stubbornly high mortgage rates—hovering above 6.5% over summer—dampened demand...

SNAP Aid to Halt as Shutdown Persists

 

With the U.S. government shutdown unresolved, the USDA says SNAP benefits will not be issued November 1, halting about $8 billion in monthly aid for roughly 42 million people. Recipients like Maine single mother Kasey McBlais and Massachusetts mother Sharlene Sutton say they’re bracing for hard choices and turning to...

Reeves seeks fiscal headroom, eyes Gulf deals

 

Chancellor Rachel Reeves signalled she will seek greater fiscal headroom in November’s Budget, implying last year’s £9.9bn buffer is insufficient and leaving tax rises and/or spending cuts on the table. Citing the need to meet fiscal rules and guard against shocks, she said growth will be central, as the IFS...

Smaller Families Reshape Economies, Strain Aging Societies

 

Families are choosing smaller sizes worldwide, NPR reports, with some like Ashley and Nick Evancho deciding “one is enough.” UN data show fertility has fallen by more than half since the 1970s; the U.S. rate hit a record-low 1.6 in 2024. Economists warn of aging populations, worker shortages and pressure...

Shutdown Threatens SNAP, Food Banks Strained

 

Food banks already strained by inflation and federal cuts are bracing for a surge as the nearly monthlong government shutdown threatens to halt SNAP funding in November, affecting about 42 million people. Leaders from Oregon to Washington, D.C., say demand now far outstrips supply—pantries can replace just one of every...