Facing a demographic crisis, China is implementing a nationwide subsidy to boost birth rates. Parents will receive up to 10,800 yuan ($1,500) per child under three, retroactive to 2023. This follows regional initiatives offering even larger sums. The move aims to counter falling birth rates and an aging...
President Trump's administration has implemented a global tariff baseline of 15-20%, significantly altering the global economic landscape. This move, a departure from decades of free trade policies, is intended to boost domestic employment and reduce the federal deficit. While the administration touts deals with the EU, UK, and...
Proposed cuts to the Supplemental Nutrition Assistance Program (SNAP), part of President Trump's One Big Beautiful Bill Act, threaten to significantly reduce food stamp benefits for over 42 million Americans. This jeopardizes small, independent grocery stores, especially in rural areas, which rely heavily on SNAP sales for survival. ...
US and Chinese officials are meeting in Stockholm to discuss extending a tariff truce beyond mid-August. Vice Premier He Lifeng and Treasury Secretary Scott Bessent will lead the delegations through Tuesday. Discussions will cover extending the tariff pause and addressing US levies related to fentanyl and China's purchase...
Foreign investors poured a record $311.1 billion into US securities in May, defying predictions of a decline following recent market turbulence. This follows a $14.2 billion outflow in April. The surge contradicts concerns about the impact of President Trump's tariffs and challenges views that US economic exceptionalism is...
This week will be crucial for the US economy, with key data releases including the jobs report, inflation figures, consumer confidence, and corporate earnings. The Federal Reserve will decide on interest rates, while the Trump administration faces a deadline for setting tariffs on 200+ trading partners, including ongoing negotiations...
High capital gains taxes on home sales are preventing many older Americans from downsizing, exacerbating housing shortages. A couple, Joel and Kathryn Friedman, are delaying selling their $4.5 million California home due to this tax. President Trump is considering eliminating the tax, a move supported by some Republicans...
Despite looming tariffs, US stocks are at record highs. The economy has proven more resilient than anticipated, with strong corporate earnings and continued consumer spending. While some sectors struggle, notably small businesses, investors are relieved that tariffs haven't been as severe as initially feared. However, concerns remain about...
Despite a nine-month low in home sales, June saw record-high median home prices at $435,300. This disparity is due to wealthy buyers with equity leveraging high prices, particularly in the luxury market (homes over $1 million saw a 14% sales increase). High mortgage rates (averaging 6.74%) are deterring...
The UK government is considering reducing the frequency of public finance assessments from twice yearly to once yearly, following a suggestion from the International Monetary Fund (IMF). The IMF believes this would prevent frequent policy shifts to meet borrowing targets. Currently, the Office for Budget Responsibility (OBR) conducts...
