U.S. job growth remained surprisingly strong in May, adding 139,000 nonfarm payrolls despite economic headwinds. This exceeded expectations, although April's numbers were revised downward. The unemployment rate stayed at 4.2%, while average hourly earnings rose 0.4%. Health care led job gains, while government job losses reflected ongoing reduction...
India's Reserve Bank of India (RBI) unexpectedly slashed its benchmark interest rate to 5.5%, its lowest since August 2022, marking the third consecutive cut. This decision, below analyst predictions, follows better-than-expected GDP growth of 7.4% in Q4 and significantly softened inflation at 3.16% in April. While the RBI...
Due to staffing shortages caused by a federal hiring freeze, the US government has reduced price checks for its Consumer Price Index (CPI) calculations. Data collection is completely suspended in Lincoln, Nebraska; Provo, Utah; and Buffalo, New York. While the government claims minimal impact on the overall inflation...
US imports plummeted by 20% in April, the largest monthly drop on record, due to President Trump's tariffs. This sharp decline, impacting imports from Canada and China, significantly reduced the US trade deficit. The drop follows a surge in imports earlier this year as businesses anticipated the tariffs. ...
The Bureau of Labor Statistics (BLS) is reducing its collection of consumer price data, impacting its reliability. Data collection has ceased in some areas, including Buffalo, Lincoln, and Provo. While the BLS claims minimal impact on overall inflation estimates, the cuts could increase volatility in more detailed measures. ...
The Congressional Budget Office (CBO) estimates that increased tariffs between January 6 and May 13, 2025, will initially reduce federal deficits by $3 trillion due to increased tariff collections and lower interest payments. However, considering the negative impact on the U.S. economy from retaliatory tariffs and reduced investment, the net...
Rising electricity costs are impacting American households and businesses. President Trump's domestic policy bill, passed by the House and currently in the Senate, threatens to exacerbate the problem. The bill would eliminate Biden-era tax credits for clean energy sources, potentially increasing average household energy bills by $400 annually...
Amid escalating US-China trade tensions and lowered global growth forecasts by the OECD, US stocks continue to rise, with Nvidia reclaiming the title of most valuable public company. However, CFRA Research warns that market gains may be short-lived, contingent on future economic indicators like earnings and GDP growth. ...
President Trump doubled steel and aluminum tariffs to 50%, sparking concerns about increased costs for businesses and consumers. Simultaneously, the administration requested Congress to eliminate $1.1 billion in public broadcasting funding, citing partisan bias. This follows a broader clash with cultural institutions. Separately, a Gaza-based food distribution...
The European Central Bank (ECB) is expected to lower its key interest rate by 0.25% on Thursday, bringing the deposit facility rate to 2%. This follows inflation falling to around the 2% target and sluggish economic growth. While analysts predict further rate cuts later in the year, the ECB...
