Economy
Latest news impacting the US and world economy
GDP Growth
2.8%
Inflation (CPI)
3.0%
Unemployment
3.9%
Fed Funds Rate
5.25-5.50%
10Y Treasury
4.15%
Consumer Confidence
100.4
Federal Reserve Signals Potential Rate Cut in September
Fed Chair Powell indicates inflation is moving toward target, suggesting the central bank may begin easing monetary policy later this year. Markets react positively to dovish tone.
US Unemployment Claims Drop to 6-Month Low
Initial jobless claims fell to 215,000, below expectations of 225,000, signaling continued strength in the labor market despite economic headwinds.
China GDP Growth Slows to 4.7% in Q2
Chinese economy expands at slower pace amid property sector struggles and weak consumer spending, raising concerns about global growth prospects.
US-EU Trade Talks Resume on Tariff Reduction
Senior officials from both sides meet in Brussels to discuss eliminating tariffs on industrial goods, potentially boosting transatlantic trade by $150 billion annually.
Core PCE Inflation Falls to 2.6% Year-over-Year
The Fed's preferred inflation measure continues its downward trend, moving closer to the 2% target. Housing and services costs remain sticky.
ECB Holds Rates Steady, Signals Caution on Future Cuts
European Central Bank maintains benchmark rate at 4.25%, citing persistent wage pressures despite easing headline inflation across the eurozone.
US Manufacturing PMI Expands for Second Consecutive Month
ISM Manufacturing Index rises to 51.2, indicating expansion in the sector. New orders and production show strongest gains since early 2022.
Treasury Yields Fall as Investors Bet on Rate Cuts
10-year Treasury yield drops to 4.15% as bond markets price in aggressive Fed easing cycle. Mortgage rates expected to follow.
Japan Intervenes in Currency Markets to Support Yen
Bank of Japan suspected of selling dollars after yen weakens past 160 per dollar. Ministry of Finance declines to confirm intervention.
Biden Administration Announces $50B Infrastructure Investment
White House unveils major spending package for bridges, roads, and broadband expansion. Projects expected to create 500,000 jobs over five years.