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US Economy

US Consumer Spending Remains Strong as Inflation Moderates

US consumer spending increased in November, signaling continued strength in the economy despite rising interest rates, reports Reuters. This resilience comes as the Federal Reserve this week projected fewer interest rate cuts in 2025 than previously anticipated. The Commerce Department reported Friday that consumer spending rose 0.4% last month,

Trump's Policies May Limit Fed Rate Cuts in 2025

The Federal Reserve's "hawkish" quarter-point rate cut, the third of 2024, signals a shift towards a more cautious approach to monetary policy, and President-elect Donald Trump's proposed policies could further limit the central bank's ability to lower rates in 2025, according to

Trump Threatens EU with Tariffs Over Oil and Gas Imports

President-elect Donald Trump has warned the European Union that it must significantly increase purchases of US oil and gas or face tariffs on a wide range of exports, including cars and machinery, reports Reuters. Trump, who takes office on January 20, 2025, issued the ultimatum in a post on Truth

Fed Cuts Rates, But Mortgage Costs Climb Higher

Despite the Federal Reserve's efforts to lower interest rates and potentially make homes more affordable, mortgage costs continue to rise, reports the Wall Street Journal. This unexpected outcome is driven by several factors, including rising long-term Treasury yields and stubborn inflation. Average 30-year mortgage rates have climbed to

US Economic Growth Revised Upward to 3.1% in Third Quarter

The US economy grew at a faster pace in the third quarter than previously estimated, fueled by stronger consumer spending and exports, reports Bloomberg. Gross domestic product (GDP) increased at an annualized rate of 3.1% in the July-to-September period, according to the Bureau of Economic Analysis' third estimate

Trump-Backed Funding Plan Fails, Government Shutdown Looms

The Republican-led House of Representatives rejected a temporary funding plan backed by President-elect Donald Trump on Thursday, with just over 24 hours to spare before a US government shutdown, reports Bloomberg. The move capped an extraordinary two days in Washington that tested the incoming president's power. Trump and

US Manufacturing Growth Stalls in November

Despite the end of a crippling strike at Boeing, the US manufacturing sector showed only a modest rebound in November, according to data released by the Federal Reserve on Tuesday, reports Reuters. Factory output rose by just 0.2% last month, falling short of economist predictions for a 0.5%

Trump and SoftBank CEO Son to Announce $100 Billion US Investment

President-elect Donald Trump and SoftBank Group CEO Masayoshi Son will jointly announce on Monday that SoftBank plans to invest $100 billion in US projects over the next four years, according to a report from the Wall Street Journal. The announcement, scheduled to take place at Trump's Mar-a-Lago estate

US Inflation Shows Signs of Stalling, Raising Concerns for Fed

US inflation likely saw another month of firm price increases in November, suggesting that progress toward the Federal Reserve's target is slowing, reports Bloomberg. Economists polled by Bloomberg project a 0.3% rise in the core consumer price index (CPI), excluding food and energy, for the fourth consecutive

Tariffs Top Investor Concerns as Trump Begins Second Term, Goldman Sachs Survey Shows

A Goldman Sachs survey reveals that tariffs are the primary concern for investors as President Trump embarks on his second term. While largely agreeing with Goldman Sachs’ predictions on policy changes, investors appear more apprehensive about the potential economic and monetary fallout from Trump's trade actions. The survey