In the event of a US government shutdown, vital economic data, including inflation and unemployment figures, would cease to be released, leaving investors and the Federal Reserve in the dark about the state of the US economy. This uncertainty could impact decision-making in financial markets and monetary policy. As the US faces a potential economic…
US Inflation Expected to Continue Cooling Despite Energy Costs. US inflation has been steadily slowing down from its peak in June, and it’s expected to further cool, thanks to declining car prices and rents. Additionally, if the US job market continues to slow, this could contribute to further inflation reduction. While rising energy costs have…
As the historic United Auto Workers (UAW) strike officially commences, experts weigh in on the potential effects on the US economy. While there are concerns about the strike’s economic impact, it is unlikely to push the nation into a recession. Gabriel Ehrlich, an economic forecaster at the University of Michigan, pointed out that the unionized…
Economic activity in China’s displayed encouraging signs of improvement in August, suggesting that the recent downturn in growth may be stabilizing. While this is a positive development, it’s important to note that the challenges facing the country, particularly in the real estate sector, are far from over. According to data released by the National Bureau…
Time is running out to avert a strike that could shut down America’s unionized automakers assembly plants and other manufacturing facilities. The United Auto Workers contracts expire at 11:59 pm Thursday. The contracts cover 145,000 UAW members at the three companies: General Motors, Ford, and Stellantis, which builds vehicles under the Jeep, Ram, Dodge, and…
US inflation rose for the second consecutive month in August, driven by higher gas prices. However, core inflation, which excludes food and energy prices, continued to slow, signaling that the Federal Reserve’s rate hikes are having an impact. The Consumer Price Index (CPI) increased by 3.7% in August compared to the previous year, up from July’s…
Global oil prices surged past $92 a barrel on Tuesday, reaching their highest level in almost 10 months. This rise comes as the energy market grapples with supply disruptions resulting from catastrophic flooding in Libya. Tragically, this flooding has led to the loss of at least 2,000 lives, with another 10,000 individuals feared missing. The…
Fueled by a resurgent stock market and rising home values, US household wealth reached a historic high of $154.3 trillion in the second quarter of this year, according to federal data. Consumer wealth has now fully rebounded from the recent drop in stock prices and real estate values driven by inflation. Household and nonprofit net…
US inflation has significantly slowed over the past year as the Federal Reserve took aggressive measures to increase interest rates, aiming to curb demand and reduce price inflation. While wages haven’t cooled as much, there’s constant speculation about the implications of each monthly jobs report on the Fed’s decisions. The central bank will continue to…
The US dollar is on its longest winning streak in nearly nine years, with eight consecutive weeks of gains against major currencies, marking its best performance since 2014-2015. It has surged by 5% since mid-July. This rally follows months of uncertainty over the dollar’s status as the world’s reserve currency, as concerns about de-dollarization rose…