Donald Trump and Jerome Powell, chair of the U.S. Federal Reserve, met for about 30 minutes on 29 May at Trump’s invitation, the White House press office said.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jun 3 2025
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U.S. IS HOME TO A THIRD OF THE WORLD’S MILLIONAIRES, BILLIONAIRES
Thanks largely to the years-long tech boom and roaring stock market, the U.S. now has more than a third of the world’s millionaires and billionaires, according to a new report by Henley & Partners and New World Wealth, a South African research firm tracking the world’s financial riches.
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PENDING HOME SALES DIVE IN APRIL
An index gauging the number of home-sale contracts signed in April fell 6.3 percent from March, down to a reading of 71.3. The measure was 2.5 percent below that of April 2024, the National Association of Realtors (NAR) reported.
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CONGRESS FAILS TO ENACT TRUMP’S “NO TAX ON SOCIAL SECURITY” PLEDGE
In his presidential campaign, Donald Trump promised to abolish taxes on Social Security payments.
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NEW CLAIMS FOR JOBLESS BENEFITS RISE MORE THAN EXPECTED
During the week ending 24 May, 240,000 people filed new claims for unemployment benefits.
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INFLATION FALLS TO 2.1 PERCENT, VIRTUALLY MATCHING FED’S TARGET
The U.S. Federal Reserve’s favorite measure of inflation showed prices rose at a 2.1-percent annual rate in April, next door to the Fed’s long-held 2-percent target rate.
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U.S. ECONOMY SHRINKS 0.2 PERCENT IN FIRST QUARTER
The American economy contracted by 0.2 percent in 2025’s first quarter, compared to 2.4 percent growth in 2024’s final three months. It was the first quarterly contraction since 2022.
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ECONOMIC UPDATE—MARKET OVERVIEW
Again and again, for all to see, and all to wonder, “Round and round and round it goes, where it stops, nobody knows.” Remember, two of our Top Trends for 2025 were WILD CARDS: THE JOKER’S WILD and THE TRUMP CARD, and both those cards are continually being played. That is a fact of life......
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McMANSIONS DAYS ARE OVER, NEW STARTER HOMES ARE SMALLER BUT NOT THAT CHEAP
Remember the days back in the late 90s and early 2000s when Baby Boomers were moving into big homes, many mass-produced? Those days are over. Now, with income levels declining, those who can afford a home are going small. But small is still expensive.