The bank downgraded JPMorgan, Goldman Sachs, and Bank of America, citing a classic case of macroeconomic uncertainty.
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The US debt is about the same as its entire economic output and is projected to grow if Trump’s megabill passes.
The S&P 500’s recent record high marked an encouraging sign that markets are no longer all that concerned with worst-case trade war scenarios.
Simply put, Powell says he needs to wait and see June and July price data to know just how impactful and inflationary tariffs have been.
Staffing shortages, shrinking funding and decades of declining survey responses are testing an agency responsible for vital US economic data.
Despite new data this week showing inflation has cooled, Powell and the Federal Reserve are still expected to hold off on rate cuts.
The surprising news comes just ahead of an all-important jobs report from the Labor Department due out Friday.
Brands that cater to the uber wealthy saw a dip in sales for the first quarter of 2025, continuing a slowdown that started last year.
The Fed was already walking a tightrope over a bottomless pit of stagflation before waves of tariffs came to rattle the line.
After the auction, the yield on the 20-year note rose to 5.125%, the highest level since back in November 2023.
Soft US inflation numbers released last week and a de-escalation of global trade tensions are likely contributing to bitcoin’s rebound.
Klarna’s 100 million-user win sounds nice, but its users are increasingly struggling with the “pay later” part of the arrangement.
A handful of retail executives hinted this week that they are eyeing some strategic advantages and opportunities amid the trade war.
The Budget Lab projects that, with the current tariff levels, US and Chinese economies would both be 0.6% smaller in the long run.
That’s right: CPI fell 0.1% in March, according to the US Labor Department, marking the first month-over-month decline since May 2020.
Jamie Dimon warned inflation is likely going up and Larry Fink said the economy might already be in recession.