Page 3 - Us Economy

Trump says he may allow lawsuit against Fed chief Powell over renovations

Trump in a social media post on Tuesday resumed his criticism of the Fed chair over the central bank's decision to hold interest rates steady and again hammered Powell over the renovation work

Trump selects economist EJ Antoni to head Bureau of Labor Statistics

President Donald Trump has said that he has nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to head the agency that compiles and publishes the nation's employment and inflation figures. Our Economy is booming, and E.J. will ensure that the Numbers released are HONEST and ACCURATE, Trump said on social media late Monday. Antoni, if approved by the Senate, would replace Erika McEntarfer, who was appointed commissioner of the Bureau of Labor Statistics by former President Joe Biden. Trump fired McEntarfer Aug. 1 after the July jobs report showed hiring slowed sharply this spring, with job gains in May and June revised much lower than initially estimated. Trump accused McEntarfer, without evidence, of rigging the jobs data for political reasons. The announcement comes one day before the BLS is scheduled to release the latest inflation data, for July. It is forecast to show that consumer prices rose for the third straight month as tariffs are pushing up t

US inflation likely to rise in July as higher tariffs drive up prices

The core consumer price index, regarded as a measure of underlying inflation because it strips out volatile food and energy costs, rose 0.3 per cent in July, according to the Bloomberg survey

Trump is winning the tariff war hands down; markets remain unshaken

His tariffs are bringing in higher revenues, shielding American industry - and the markets remain unshaken

Asia shares sideswiped by US economic jitters, retreat in oil prices

Some early resilience in US stock futures and a continued retreat in oil prices did help limit the losses, but the bleak message from the July payrolls report was hard to ignore

Trump gets economy he wants, but growth risks may spoil his victory lap

President Donald Trump is getting his way with the world economy. Trading partners from the European Union to Japan to Vietnam appear to be acceding to the president's demands to accept higher costs in the form of high tariffs for the privilege of selling their wares to the United States. For Trump, the agreements driven by a mix of threats and cajoling, are a fulfillment of a decades-long belief in protectionism and a massive gamble that it will pay off politically and economically with American consumers. On Sunday, the United States and the 27-member state European Union announced that they had reached a trade framework agreement: The EU agreed to accept 15 per cent US tariffs on most its goods, easing fears of a catastrophic trans-Atlantic trade war. There were also commitments by the EU to buy USD 750 billion in US energy products and make USD 600 billion in new investments through 2028, according to the White House. We just signed a very big trade deal, the biggest of them .

Gold may trade in tight range ahead of US data, Fed cues: Analysts

Gold prices are likely to remain range-bound in the coming week as investors await clarity on global trade negotiations, upcoming US macroeconomic data and signals from the Federal Reserve, analysts said. Traders will closely watch Fed Chair Jerome Powell's speech and global PMI data from major economies, including the US, UK and Eurozone. The European Central Bank's interest rate decision will also be closely tracked for cues on the bullion price trajectory, they said. Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said that in the week ahead, focus will remain on the trade negotiation outcome, Fed official speeches, US macro data, including housing market, weekly initial claims, and durable goods orders. "Gold prices are seen consolidating in a range over the past couple of weeks amid a lack of fresh triggers and recovery in the US Dollar in the given period," Mer said, adding that downside in bullion looks limited as focus remains on the

Asian shares track Wall Street higher, yen weak ahead of Japan vote

Overnight, the S&P 500 and the Nasdaq again closed at record highs as US data including retail sales and jobless claims beat forecasts, indicating a modest improvement in the economy

Stock Market close: Sensex gains 193 pts, Nifty at 25,461; SMIDs flat; IT, pharma, FMCG stocks rise

Sensex Today | Stock Market close, Friday, July 4, 2025: The Nifty Midcap 100 settled flat with a negative bias and Nifty Smallcap 100 was up 0.03 per cent

Trump's tariffs and tax policies test assumptions on US dollar, markets

As foreseen: swings in sovereign bond markets have been sharp, the Japanese yen rallied, and a comeback for emerging markets is finally materialising

US economy contracts 0.5% in Q1, worse than earlier two estimates

The US economy shrank at a 0.5 per cent annual pace from January through March as President Donald Trump's trade wars disrupted business, the Commerce Department reported Thursday in an unexpected deterioration of earlier estimates. First-quarter growth was weighed down by a surge of imports as US companies, and households, rushed to buy foreign goods before Trump could impose tariffs on them. The Commerce Department previously estimated that the economy fell 0.2 per cent in the first quarter. Economists had forecast no change in the department's third and final estimate. The January-March drop in gross domestic product the nation's output of goods and services reversed a 2.4 per cent increase in the last three months of 2024 and marked the first time in three years that the economy contracted. Imports expanded 37.9 per cent, fastest since 2020, and pushed GDP down by nearly 4.7 percentage points. Consumer spending also slowed sharply, expanding just 0.5 per cent, down from a robu

Rate cuts can wait as Fed monitors inflation from tariffs, says Powell

In his prepared testimony Powell said the economy remains in a "solid position," with low unemployment and inflation far below its pandemic-era peak

Zero-for-Zero Tariffs: Rethinking Trade Liberalization

In this SmartCut episode, Dr. Shikha Jain, Director of IMDR Pune, unpacks Zero-for-Zero Tariffs, their history, benefits, challenges, and why India needs to rethink trade liberalisation. >

More ex-federal workers in US face job hunt as grants & contracts vanish

The drastic, sudden pullback in federal dollars is collapsing opportunities for many who've spent years in public service

US trimming collection of consumer price data, raising reliability fears

The Bureau of Labour Statistics stated that the cuts would have 'minimal impact' on estimates of the overall inflation rate, though they could "increase the volatility" of more detailed measures

Inflation data threatened by US government's hiring freeze as tariffs loom

The Labor Department has cut back on the inflation data it collects because of the Trump administration's government hiring freeze, raising concerns among economists about the quality of the inflation figures just as they are being closely watched for the impact of tariffs. The department's Bureau of Labor Statistics, which produces the monthly consumer price index, the most closely watched inflation measure, said Wednesday that it is reducing sample in areas across the country and added that it stopped collecting price data entirely in April in Lincoln, Nebraska, and Provo, Utah. It also said it has stopped collecting data this month in Buffalo, New York. In an email that the BLS sent to economists, viewed by The Associated Press, the agency said that it temporarily reduced the number of outlets and quotes it attempted to collect due to a staffing shortage in April. The reduced data collection will be kept in place until the hiring freeze is lifted. The cutbacks have intensified ..

Trump Gold Card will be highly successful in India: US Commerce Secretary

Howard Lutnick says Trump Gold Card-a new $5 million US residency route-will attract wealthy Indians looking to contribute as international entrepreneurs in America

Statsguru: Why foreign students are 'golden goose' for the US economy

Can the US afford to drive away its international students? It can't, suggest data

US consumer spending rises slightly in April amid tariff uncertainty

The report from the Commerce Department on Friday suggested the economy struggled to rebound early in the second quarter

US economy contracts 0.2% in Q1 on weak spending, record trade drag

The slight upward revision in GDP reflected stronger business investment and a greater accumulation of inventories. Federal government spending wasn't as much of a drag as originally reported