If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with the shutdown in Washington, other reports outside the government data suggest the labor market just plodded along in September. The Dow Jones consensus forecast was for growth of 51,000 in nonfarm payrolls with the unemployment rate holding steady at 4.3%. High-frequency data that includes job postings, private payrolls and state-by-state figures...
The Trump administration began sending termination notices Thursday to about 500,000 foreign nationals who had received temporary stays to live and work in the United States under a special humanitarian exception. The so-called CHNV program was open to applicants from Cuba, Haiti, Nicaragua and Venezuela from 2023 until it was terminated by President Donald Trump earlier this year. Recipients of the notices from the Department of Homeland Security are encouraged to "self-deport immediately." The move came two weeks after the Supreme Court ruled that DHS can order CHNV participants to...
President Donald trump ramped up his attacks on Federal Reserve Chair Jerome Powell on Thursday, calling him a "numbskull" and demanding steep rate cuts to ease the $600 billion annual interest bill on U.S. debt. Now, with inflation cooling faster than expected, rate cuts could be on the Fed's monetary policy table as soon as September, according to Citi economists. "We continue to pencil in 125bp of consecutive rate cuts from the Fed starting in September," Citi economists wrote, pointing to a rapid slowdown in core inflation as the key catalyst for policy easing. Trump's latest broadside...
U.S. President Donald Trump continues to press Jerome Powell and the Federal Reserve to cut interest rates, as inflation data remains subdued despite his aggressive tariff policy. While Trump continues to press for lower rates, he said he won't fire Powell. "We're going to spend $600 billion a year because of one numbskull that sits here," Trump said. "Cut your rates now, there's no inflation." Trump suggested the Fed cut interest rates by two full percentage points, which could save the U.S. up to $900 billion. This is larger than his past ask for a one percentage point cut from the Fed....
The Federal Reserve's path to interest rate cuts starting in September appeared to widen on Thursday, after a pair of government reports pointed to cooler inflation and signs of potential weakening in the labor market. U.S. producer prices advanced 2.6% in May from a year earlier, after rising 2.5% in April, the Labor Department reported. Taken together with tamer-than-expected increases in the Consumer Price Index in May, economists estimated that inflation by the Fed's preferred gauge of underlying price pressures, the core Personal Consumption Expenditures Price Index, likely rose in...
A tentative agreement between the United States and China may be a step back from the worst-case scenario of a complete collapse of trade between the world's two largest economies, but it creates more problems than it solves. President Donald Trump has hailed the deal, which is still awaiting final approval from both sides, as a "great deal" that will benefit both countries. While not all the details are known, what has been revealed suggests a deal that will likely hurt both economies and fail to address some pressing issues, such as China's dominance of the rare earths supply chain. The...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long,...