The largest U.S. banks will be allowed to keep less cash on hand as a reserve against bad loans after a five-to-two ruling last week by the U.S. Federal Reserve’s Board of Governors.
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CASH-STRAPPED GENERATION Z CUTS SPENDING
During this year’s first quarter, spending by Americans grew at a slower pace. However, spending by Gen Z’ers—young adults ages 18 through 24—actually fell, dropping 13 percent year on year.
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U.S. EXPORTS SLUMP IN MAY
U.S. exports fell 5.2 percent in May to $179.2 billion, reversing a 3.5-percent rise in April, according to census bureau data.
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400,000 U.S. FACTORY JOBS ARE BEGGING FOR WORKERS
Donald Trump’s dream of a U.S. manufacturing renaissance is running into a demographic wall: relatively few young workers are interested in taking a place on the factory floor.
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DOLLAR FALLS TO LOWEST VALUE IN THREE YEARS
On 26 June, the dollar touched its lowest value in three years against an assortment of the world’s other major currencies.
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U.S. HOME PRICES KEEP RISING
In April, U.S. home prices rose at an annual rate of 2.7 percent, down from 3.4 percent in March to mark their slowest annualized gain since mid-2023, according to the S&P CoreLogic Case-Schiller National Home Price Index.
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SALES OF EXISTING HOMES ROSE IN MAY WHILE SALES OF NEW HOMES FELL
The number of contracts signed for purchases of homes rose 1.8 percent in May from April and 1.1 percent year on year, the National Association of Realtors (NAR) reported.
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INVESTORS DUMP LONG-DATED U.S. SECURITIES
Investors are fleeing long-dated U.S. treasury bonds and notes at the fastest rate since the depths of the COVID War in 2020 as the rising national debt sours views of the economy’s long-term health.
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U.S. ECONOMY SHRANK MORE IN FIRST QUARTER THAN REPORTED
The U.S. economy contracted by 0.5 percent in January through March, not the 0.2 percent originally estimated, the Commerce Department reported.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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