Economists have described the past four years as the “vibecession,” a disconnect between Americans’ feelings about the economy and the data. It was the consensus view on Wall Street that the economy would slide into a recession, but economic conditions have defied expectations. Gross domestic product (GDP) has expanded at a solid pace, the labor […]

U.S. Treasury investors were given a belated Christmas present in higher yields during the thin Boxing Day trading session. The 10-year Treasury yield rose above 4.64 percent on Dec. 26, the highest since May. The 20- and 30-year yields also inched higher to 4.87 percent and 4.78 percent, respectively. Yields on short- and medium-term U.S. […]

President-elect Donald Trump on Dec. 22 nominated Stephen Miran to chair the Council of Economic Advisers (CEA). Miran, who has a PhD in economics from Harvard University, served as a senior adviser for the Treasury Department during the president-elect’s first term. “Steve will work with the rest of my Economic Team to deliver a Great […]

The Federal Reserve’s favored inflation metric, the personal consumption expenditure (PCE) price index, rose for the second month in a row as persistent price pressures continue to affect the central bank’s monetary policy strategies. According to the Bureau of Economic Analysis (BEA), annual PCE inflation rose to 2.4 percent in November from 2.3 percent in […]

The U.S. economy was stronger than expected in the third quarter as upward revisions to consumer spending and exports bolstered the July–September GDP growth rate. According to the final estimate from the Bureau of Economic Analysis (BEA), the third-quarter GDP increased by 3.1 percent, higher than the initial projections of 2.8 percent. This was also […]

The Dow Jones Industrial Average has extended its losing streak to 10 days, the first such skid since 1974, as the Federal Reserve’s interest rate outlook for 2025 disappointed investors. The Fed announced on Dec. 18 that it expects fewer interest rate cuts in 2025 because of inflation pressures. Following the announcement, the blue-chip index […]

The Federal Reserve followed through on the third straight interest rate cut on Dec. 18, lowering the benchmark rate by 25 basis points to a range between 4.25 percent and 4.5 percent at the December policy meeting. It also stated that it expects fewer interest rate cuts in 2025 as inflation pressures weigh on monetary […]

SoftBank, a Japanese internet services and telecommunications titan, will invest $100 billion in the United States over the next four years, President-elect Donald Trump announced at his Mar-a-Lago residence on Dec. 16. The Tokyo-based company will allocate the $100 billion to U.S. projects centered on artificial intelligence and AI-related infrastructure, such as energy, chips, and […]

President-elect Donald Trump rang the New York Stock Exchange (NYSE) opening bell to cheers from floor traders and business leaders on Dec. 12. Vice President-elect JD Vance, incoming First Lady Melania Trump, NYSE President Lynn Martin, and Trump’s two daughters, Ivanka and Tiffany, flanked him. He also looked upon various incoming administration officials and a […]

The U.S. annual inflation rate rose for the second straight month as shelter and food costs added to price pressures last month. According to the Bureau of Labor Statistics (BLS), the November annual inflation rate climbed to 2.7 percent from 2.6 percent in October. The consensus forecast, according to FactSet Insights, was 2.7 percent. The […]

The U.S. labor market rebounded in November following the previous month’s abysmal jobs report, which was fueled by labor strife and natural disasters. According to the Bureau of Labor Statistics (BLS), the economy added 227,000 new jobs last month from the upwardly revised 36,000 positions in October. The consensus median estimate suggested an increase of […]

The road to $100,000 was finally achieved for Bitcoin as the flagship cryptocurrency’s total market capitalization firmed above $2 trillion. After breaking through the six-figure threshold Thursday, Bitcoin (BTC) prices climbed to as high as $105,325 before paring some of its gains. Bitcoin has surged 140 percent this year and about 45 percent since the […]

President-elect Donald Trump on Dec. 4 nominated businesswoman and former Georgia Sen. Kelly Loeffler to lead the Small Business Administration (SBA). Loeffler, 53, co-chairs the president-elect’s second inaugural committee with Las Vegas real estate developer Steve Witkoff. The role of SBA administrator requires Senate confirmation. “Kelly will bring her experience in business and Washington to […]

The Federal Reserve’s preferred inflation measure—the personal consumption expenditure (PCE) price index—edged up in October as services continued to fuel price pressures. According to the Bureau of Economic Analysis (BEA), annual PCE price index inflation rose to 2.3 percent last month from 2.1 percent in September. The index jumped by 0.2 percent monthly and aligned […]

Businesses large and small are preparing to make their final decisions as they position themselves for President-elect Donald Trump’s proposed tariff plans. Trump and his transition team have not made official trade policy announcements. For now, companies have what the Republican president-elect outlined on the 2024 campaign trail: a 10-20 percent across-the-board tariff on all […]

President-elect Donald Trump confirmed on Nov. 22 his plans to nominate Wall Street billionaire financier Scott Bessent as Treasury secretary. Bessent, 62, the founder of Key Square Group and Trump’s 2024 economic adviser, will serve in one of the most influential economic positions in the White House. By overseeing the Treasury Department, Bessent, if confirmed […]

President-elect Donald Trump has nominated Scott Bessent to lead the U.S. Department of the Treasury, ending days of speculation after other names emerged as competitors to the reported favorite. “Scott is widely respected as one of the world’s foremost international investors and geopolitical and economic strategists. Scott’s story is that of the American Dream,” Trump […]

President-elect Donald Trump on Nov. 19 nominated billionaire Howard Lutnick as the commerce secretary in his incoming administration. Trump said in a statement that Lutnick would “lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.” Lutnick, 63, is the co-chair of the Trump-Vance transition team. […]

The producer price index (PPI)—a gauge of prices paid by businesses for goods and services at the wholesale level in the United States—rose to a three-month high in October, revealing persistent price pressures in pockets of the U.S. economy. According to the Bureau of Labor Statistics (BLS), the PPI increased to 2.4 percent year over […]

The U.S. annual inflation rate rose for the first time since March, suggesting that the final mile toward achieving the Federal Reserve’s 2 percent target might be bumpy. According to the Bureau of Labor Statistics (BLS), the annual inflation rate increased to 2.6 percent in October, up from 2.4 percent in September. Heading into the […]