We are about to find out who is going to “eat” President Donald Trump’s tariffs. Don’t expect US consumers to be the ones picking up their knives and forks. While the higher levies have been the subject du jour for months, they are only just filtering through to the checkout. And more hikes will come … Read more
At his Senate confirmation hearing, Energy Secretary Chris Wright confessed he was new to politics. He is a fast learner. Wright lamented in a recent interview with Politico that President Donald Trump’s administration would be blamed for rising electricity bills, even though it was really Democrats’ fault. His instinct about a brewing midterms energy backlash … Read more
Joseph Lavorgna, counselor to Treasury Secretary Scott Bessent, believes tariffs are not inflationary and says economists who have been predicting that prices would rise due to President Donald Trump‘s import duties are wrong. Where many such economists saw effects of tariffs in consumer price inflation data last week, Lavorgna was not persuaded. Economists had been … Read more
Stocks dived in early Asian trade on Friday, led by a selloff in U.S. futures, while oil prices jumped after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The Israeli attack raises the risk of a fresh escalation in tensions in the Middle … Read more
“Overall, from a medium-term perspective, not only for auto tariffs but overall because of the other tariffs across sectors, you will see inflationary pressures in the US and mind you that couple of months back it was only the US that was expected to give a strong growth in terms of the guidance for many … Read more
US consumer inflation cooled last month on plunging gas prices, according to government data published Wednesday, as consumers and businesses waited nervously for President Donald Trump’s sweeping tariffs to come into effect. The US leader last week announced levies as high as 50 percent on imports from some countries, sending stock markets tumbling and bond … Read more
Asian equities rose Thursday after cooler-than-forecast US inflation helped Wall Street rebound from two days of heavy losses. Australian and Japanese shares rose and equity-index futures for US stocks climbed in early Asian trading, bolstering advances in the prior session. Even after Wednesday’s gains for the S&P 500 and Nasdaq 100, the first since Friday … Read more
Shares rose in Asia, sidestepping losses on Wall Street following hotter-than-expected core inflation that heightened the focus on the Federal Reserve’s next move. Japanese and South Korean stocks opened higher while those in Australia slipped. US equity futures also edged higher, after the S&P 500 fell 0.2% and the Nasdaq 100 dropped 0.1% Thursday. A … Read more
U.S. worker productivity grew faster than initially thought in the second quarter, reining in labor costs, suggesting that inflation pressures could continue to subside. Nonfarm productivity, which measures hourly output per worker, increased at a 2.5% annualized rate last quarter, the Labor Department’s Bureau of Labor Statistics said on Thursday. That was an upward revision … Read more
U.S. inflation rose moderately in March, but that is unlikely to change financial markets’ expectations that the Federal Reserve will hold off cutting interest rates until September. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for February was unrevised to show … Read more