Moody's Analytics chief economist Mark Zandi warns of a potential US recession, citing concerning job market trends. While official recession criteria haven't been met, employment growth has stalled, with significant downward revisions to recent payroll data. Over half of surveyed industries are cutting jobs, a strong recession indicator. Zandi...
Many Americans over 80 are working out of financial necessity, a trend expected to grow. A Business Insider analysis reveals that limited savings, unexpected expenses, and inadequate retirement planning contribute to this. While some find fulfillment in their work, others struggle with low wages and limited job prospects....
Federal Reserve official Michelle Bowman advocates for interest rate cuts following a weaker-than-expected jobs report. Bowman, who previously dissented on the Fed's decision to hold rates steady, believes three cuts are necessary this year to boost the economy. While acknowledging concerns about inflation, Bowman expressed growing confidence that...
US tariffs on goods from over 60 countries and the EU took effect, impacting the US economy. Israel announced plans to occupy Gaza City, escalating the conflict with Hamas. Trump agreed to meet with Putin in Alaska to discuss the Ukraine ceasefire, a move seen as a diplomatic...
New tariffs imposed by President Trump have raised the U.S. tariff level to its highest since 1933, averaging 18.6%. While companies initially absorbed costs, price increases for consumers are expected, particularly in clothing and textiles. The Yale Budget Lab estimates an average household cost of $2,400 this year....
President Trump's revised federal student loan repayment plan, effective July 1, 2026, extends repayment terms from 10 to 25 years for some borrowers. Experts warn this will increase total repayment costs significantly for many, adding tens of thousands of dollars to their debt. New borrowers will only have...
President Trump warned against courts blocking his tariff policy, claiming it boosted the stock market and that a reversal would trigger a severe economic downturn, comparing it to the 1929 Great Depression. A federal appeals court is reviewing the policy's legality, with concerns it exceeds presidential emergency powers. ...
Las Vegas experienced an 11.3% drop in tourism in June, marking the sixth consecutive month of decline. This downturn, impacting hotel occupancy, convention attendance, and airport passenger numbers, reflects broader economic concerns. Factors include President Trump's trade policies affecting international travel, particularly from Canada, rising prices, and reduced...
The Bank of England unexpectedly cut interest rates, despite inflation remaining high above its 2% target. This decision, closely debated by the Monetary Policy Committee, reflects a belief that the weakening jobs market will eventually curb inflationary pressures. However, the move is controversial, with two senior officials voting...
Treasury Secretary Scott Bessent predicts trillions in manufacturing resurgence due to new tariffs, aiming to reduce trade deficits and boost American production. Meanwhile, budget cuts under the Trump administration force National Park Service staff into unusual roles to keep parks open, neglecting crucial conservation efforts. Senator Cornyn requested...
