The week’s inflation readings are the final pieces of the economic puzzle that the central bank would consider ahead of the September 16-17 Federal Reserve’s rate-setting meeting.
Treasury Secretary, Scott Bessent, warned of potential consequences if the Supreme Court rules against the administration, despite expressing confidence over the Trump Administration's appeal to the higher court.
The economist stated that Trump was incorrect to take credit for a booming economy, as the economy and labor market are now weaker than under Biden, despite rising inflation.
The financial markets are on the cusp of a significant shift, with the Federal Reserve widely anticipated to enact an interest rate cut in September 2025. This pivotal move is primarily driven by clear and compelling evidence of a weakening U.S. labor market, signaling a strategic pivot by the
A rather disappointing jobs report is challenging Wall Street's optimism over looming rate cuts, as labor market weakness stirs fresh concerns about the economy.
Hassett’s comments come after the Bureau of Labor Statistics data showed nonfarm payroll additions during the month stood at 22,000, significantly lower than expected.
In an interview with Reuters, the European Union’s Energy Commissioner Dan Jorgensen accepted that the EU is “indirectly helping finance Putin’s war” and that this needs to stop.
