The story unfolds like this. U.S. consumer prices made a modest comeback in April, hovering below expectations at 2.3% for the trailing 12 months. However, we can expect inflation to surge in the coming months as tariffs hike the cost of imported goods. According to the Labor Department's Bureau of Labor Statistics, the consumer price index (CPI) rose by 0.2% last month. … [Read more...] about Relief at Last: US Inflation Drops to 4-Year Low
Economy
Retail Sales Surge on Big-Ticket Buys: What’s Behind the 1.4% Rise?
Last month, U.S. consumers increased their spending on high-ticket items such as gadgets and cars. This was fueled by the rush to buy these expensive items before President Donald Trump’s new tariffs kicked in. According to the Commerce Department, retail sales increased 1.4% in March after increasing 0.2% in February. Retail sales dropped 1.2% in January due to the cold … [Read more...] about Retail Sales Surge on Big-Ticket Buys: What’s Behind the 1.4% Rise?
JPMorgan’s Jamie Dimon Warns of Recession and Rising Defaults
Jamie Dimon, CEO of JPMorgan Chase, said on Wednesday that the tariffs implemented by U.S. president Donald Trump would likely lead to a depression and defaults among borrowers. He made this statement during Fox Business Mornings with Maria. Dimon stated, "As long as rates are going up… inflation remains sticky, and credit spreads gape out, which is what they will do, I … [Read more...] about JPMorgan’s Jamie Dimon Warns of Recession and Rising Defaults
Job Market Defies Expectations: Unemployment Claims Plunge to Surprising Lows
Last week, the number of Americans filing new claims for unemployment benefit dropped. This shows that the labor markets are stable and unlikely to be affected negatively by any potential import tariff volatility. According to Reuters, economists had predicted that 225,000 initial claims would be filed. In February, the government reported 1,07 new job openings for every … [Read more...] about Job Market Defies Expectations: Unemployment Claims Plunge to Surprising Lows
Lawmakers Risk Last-Minute Delay in Emergency Spending Bill Release Ahead of Deadline
Details of the emergency spending bill may be delayed, and "slip" by a few days as the deadline for avoiding a government shutdown looms. On Sunday, lawmakers were supposed to release the text of an emergency spending bill that would address disaster relief and avoid a shutdown. However, the text could "slip by a day." The announcement comes at a time when both House and … [Read more...] about Lawmakers Risk Last-Minute Delay in Emergency Spending Bill Release Ahead of Deadline
