On 19 June, Donald Trump again assailed U.S. Federal Reserve chair Jerome Powell, holding him personally responsible for the unanimous decision by the central bank’s Open Market Committee to leave interest rates where they are.
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CRYPTO INDUSTRY CELEBRATES U.S. SENATE PASSAGE OF STABLECOIN LAW
On 17 June, the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which establishes a regulatory framework for stablecoins in the U.S.
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SILVER PRICES SOAR TO HIGHEST IN MORE THAN 10 YEARS
While investors have driven gold prices to record highs, manufacturers have been snapping up silver, pushing its price as high as $36.86 on 18 June. The metal’s price is up 29 percent this month alone.
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FED FREEZES INTEREST RATES AMID TRADE WAR UNCERTAINTY
On 18 June, the U.S. Federal Reserve’s Open Market Committee held its policy interest rates steady at 4.25 percent for deposits and 4.50 percent for loans. The decision to do so was unanimous, notes from the meeting showed.
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U.S. BUSINESS ACTIVITY SLOWS IN JUNE AS PRICES CLIMB
U.S. activity in manufacturing and services slowed slightly this month as factories’ cost of materials and prices for finished products rose to their highest level since July 2022.
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SOCIAL SECURITY WILL GO BROKE IN NINE YEARS, NEW STUDY SAYS
In 2034, the U.S. Social Security system’s financial balance will tip and the program will begin paying out more money in retirement pensions than it collects from payroll taxes, according to a new report from the program’s board of trustees.
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LEADING INDICATORS SHOW A WEAKENING U.S. ECONOMY
The Conference Board’s Leading Economic Index (LEI), a broad survey of economic signals, ticked down in May from 99.1 to 99 to match economists’ forecasts.
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TRUMP, NETANYAHU CLAIMED IRAN WAS CLOSE TO NUCLEAR WEAPONS, EXPERTS DISAGREE
U.S. President Donald Trump ordered strikes on Iranian nuclear sites in a surprise attack on Saturday and justified them by insisting that Tehran was close to developing a nuclear weapon.
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A COUNTRY DIVIDED: MORE THAN 40 PERCENT OF AMERICANS BELIEVE THERE WILL BE CIVIL WAR IN NEXT DECADE
A newly released poll found that 43 percent of Americans believe the U.S. is “somewhat” or ”very likely” to experience a civil war within the next decade, which underscored the stark political divide in the country during U.S. President Donald Trump’s second term.
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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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