US wholesale prices plummeted 0.5% in April, marking the largest monthly drop since the COVID-19 pandemic. This decline, exceeding economist predictions, is largely attributed to a 1.7% plunge in trade services, reflecting the impact of tariffs on profit margins. Annual inflation slowed to 2.4%, while retail sales also...
New York state has enacted a budget including inflation rebate checks to aid working families and individuals. Senate Majority Leader Andrea Stewart-Cousins, Assembly Speaker Carl Heastie, and various borough presidents praised the initiative, highlighting its impact on easing financial burdens caused by inflation. The checks aim to provide much-needed...
US egg prices dropped 12.7% in April, the first monthly decrease since October 2024, reaching an average of $5.12 per dozen. While still near record highs due to ongoing bird flu outbreaks, the decline is attributed to reduced post-Easter demand and fewer recent bird flu cases. However, prices...
US inflation eased slightly in April, reaching its slowest annual pace since early 2021 at 2.3 percent. However, economists predict a resurgence in prices due to President Trump's trade tariffs. While the April figures are positive for the Trump administration and the Federal Reserve, policymakers anticipate a...
April's inflation rate came in slightly lower than anticipated at 0.2%, resulting in a 12-month rate of 2.3%, the lowest since February 2021. This is despite the recent implementation of President Trump's tariffs. While the monthly increase was slightly higher than March, it remains significantly below its peak...
A surprise trade truce between the U.S. and China has led to revised upward growth forecasts. The 90-day agreement to temporarily reduce tariffs from 125% to 10% has prompted institutions like UBS, Morgan Stanley, ANZ Bank, and Natixis to increase their China GDP growth predictions for 2025 and the...
The White House announced a reduction in tariffs on cheap imports from China, lowering the tariff on packages valued under $800 from 120 percent to 54 percent or a flat $100 fee. This follows a previously announced 90-day mutual tariff reduction with China. The change counters the impact...
US and China agreed to slash tariffs, leading to a significant surge in US stock markets. The Dow Jones soared 1,160 points (2.8%), S&P 500 jumped 3.2%, and Nasdaq rose 4.3%. The US reduced tariffs on Chinese goods from 145% to 30%, while China lowered tariffs on US...
The US and China have agreed to a 90-day truce in their trade war, temporarily reducing tariffs. President Trump, who had previously escalated the conflict with significant tariff hikes, has now lowered them to 30 percent, while China also reduced retaliatory measures. While talks will continue, details on...
US tariff revenues reached a record $16.3 billion in April 2025, an 86% increase from March and more than double the amount from April 2024. This surge, attributed to President Trump's trade policies, brought the year-to-date total to $63.3 billion. While the US budget deficit persists, the tariff influx...
