Us Economy

US retail sales up modest 0.2% in June amid continued economic uncertainty

Shoppers slowed their spending in June from May amid continuing economic uncertainty and fading benefits from generous government tax refunds. Retail sales rose 0.2 per cent in June, after being up a revised 1 per cent in May, according to the Commerce Department's report released on Thursday. Excluding business at gas stations, retail sales rose a robust 0.7 per cent. Business at clothing and accessories stores slipped 0.3 per cent, while online sales rose 1.9 per cent, fuelled by spending surrounding Amazon's Prime Day event, which was held from June 23 through June 26. Business at sporting goods, hobby, musical instrument and book stores was up 1.3 per cent, helped by spending around the World Cup. The data offers only a snapshot of consumer spending and doesn't include activities like travel and hotel stays. The lone services category restaurants registered a 0.1 per cent increase. The report comes as US inflation cooled last month as the cost of gas, clothes, and used cars

AI or humans? What's driving the productivity boom in the US? | US Economy

Is AI really driving America's productivity boom? The data suggests the story is more complicated. In this video, Business Standard explains why US productivity has been rising.

Fed's Lisa Cook says ready to act if inflation does not cool soon

Federal Reserve Governor Lisa Cook said inflation risks now outweigh labour market concerns and signalled she is prepared to act if disinflation does not resume soon

US Fed Chair names three Indians on new monetary policy task forces

Indian-origin leaders Raghuram Rajan, Raj Chetty and Asha Sharma will head key US Federal Reserve task forces reviewing monetary policy and institutional reforms

Fed Chair Warsh says inflation risks have declined, vows price stability

Fed Chair Kevin Warsh said US inflation risks have eased and reaffirmed the central bank's commitment to price stability, while ruling out forward guidance on rates

S&P keeps US sovereign rating at AA+ with stable outlook, resilient economy

S&P Global Ratings was the first major credit grader to strip the US of its AAA rating in 2011 and was harshly criticized by the US Treasury at the time

'I love the inflation': Trump's remark gets backlash amid rising costs

President Donald Trump on Wednesday showed how he had learned to stop worrying about inflation and simply, in his own words, "love" it. Asked about the new report that the consumer price index in May had jumped 4.2 per cent over the last year, the president took a surprisingly optimistic tack with the challenging news. Trump didn't dismiss the affordability issue as a "hoax" that was started by Democrats, as he has done previously. Nor did he claim that he was bringing down the cost of living. Instead, after the government said that inflation spiked to the highest level since April 2023, Trump praised the numbers. "You know what I really love?" Trump said. "I love the inflation." It was an unexpected take given that voters ahead of the November midterm elections have ranked the economy as a top concern -- and have given Trump low marks on that issue. Within minutes of his on-camera comment, Democrats quickly rushed to promote it on social media. Trump had pledged in his 2024 campa

Strategists warn yields to stay high even if West Asia conflict ends

Strategists warn long-term bond yields may remain elevated even if war-driven inflation eases, citing debt burdens, AI spending and higher rate expectations

Bad, very bad and much worse: Pick a forecast for war and economy

Oil shock and Hormuz disruption deepen fears of inflation and slowdown

Too soon to judge war's impact, says Powell as inflation keeps Fed on hold

Fed's next move may ultimately be a hike, a possibility Powell acknowledged came up again in discussions this week - though that's not the base case for the majority of policymakers

US national debt surges past $39 trillion just weeks into war with Iran

The national debt surpassed a record USD 39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran. The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself - the latter of which Donald Trump promised to do as both a candidate and as president. The Government Accountability Office outlines some of the impact of rising government debt on Americans - including higher borrowing costs for things like mortgages and cars, lower wages from businesses having less money available to invest, and more expensive goods and services. Advocates for a balanced budget also warn that the long-term trend of borrowing more and paying more in interest will force Americans to face tougher fiscal tradeoffs ahead. Michael Peterson, chair and CEO of the nonprofit Peter G. Peterson Foundation, created to raise awareness of America's .

Trump's 'roaring' economy meets rough start to 2026: What the numbers show

President Donald Trump promised that 2026 would be a bumper year for economic growth, but instead it has kicked off with job losses, rising gasoline prices and more uncertainty about America's future. In his State of the Union address less than two weeks ago, the Republican president confidently told the country: "The roaring economy is roaring like never before." The latest batch of data on jobs, pump prices and the stock market suggests that Trump's roar has started to sound far more like a whimper. There is a gap between the boom that Trump has predicted and the volatile results he has produced -- one that could set the tone in this year's mid-term elections as he tries to defend his party's majorities in the House and Senate. With Trump's tariffs drama ongoing, the war in Iran has suddenly created inflationary concerns regarding oil and natural gas. To the White House, it is still early in the year and stronger growth is coming. No signs of a jobs boom "WOW! The Golden Age of .

IMF sees 'buoyant' US economy, warns of risks from tariffs, rising debt

A "buoyant" US economy is poised to see accelerated growth and lower unemployment this year. But big federal budget debts "represent a growing stability risk," the International Monetary Fund said Wednesday. The 191-country lending organisation's assessment of the world's biggest economy was mostly positive. The IMF saw US gross domestic product - the country's output of goods and services - growing 2.4 per cent in fourth-quarter 2026 from the last three months of 2025, up from 2.2 per cent growth the year before. It sees US unemployment dropping from 4.5 per cent in late 2025 to 4.1 per cent in 2026 and inflation falling to the Federal Reserve's 2 per cent target by 2027. IMF managing director Kristalina Georgieva said the Fed, which cut its benchmark interest rate three times in 2025, could afford to push it down to around 3.4 per cent from 3.6 per cent currently. But it should hold off on deeper cuts barring a "material worsening'' in the American job market, she said. The United

US small business is disma despite GDP growth under Trump administration

Rising bankruptcies and weak job growth signal mounting pressure on small firms

A red-hot US economy under Donald Trump may not cool the way he hopes

Trump's high-growth push - fuelled by stimulus, deregulation and rate cuts - may heat up the US economy but risks persistent inflation and financial instability

Nearly a year in, Trump uses regulatory force to try to lower inflation

To assuage cost-weary voters and combat inflation, the president has resorted to a mix of threats and punishments, targeting companies and policymakers alike

Trump calls for one-year 10% cap on credit card rates amid cost pressure

The US president said the proposed cap, set to begin on January 20, would stop excessive charges by card issuers, though details on enforcement and industry compliance remain unclear

Buoyant US growth in recent times: Is US President Donald Trump right?

Registering an annualised rate of real GDP growth of 4.3 per cent in Q3 2025, the US economy appeared to have grown at the fastest pace in roughly two years

Trump announces $1,776 'Warrior Dividend' for military service members

Taking a dig at the previous Joe Biden administration, Trump said in his address that he 'inherited a mess'

Trump to deliver prime-time address on Thursday morning amid waning support

The address, coming near the end of Donald Trump's first year back in the White House, is set for a pivotal moment as his poll numbers soften and the economy faces headwinds