The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve Board have withdrawn statements issued in 2022 and 2023 that were intended as guidance for banks in dealing with cryptocurrencies.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Apr 29 2025
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COLGATE-PALMOLIVE PARES BACK ITS 2025 FORECAST
Colgate-Palmolive, which makes hundreds of consumer products from pet foods to Ajax cleanser, has cut its sales growth outlook from 3 to 5 percent this year to 2 to 4 percent. Profits will be flat, CEO Noel Wallace said in a 25 April earnings call.
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SALE OF BIG-TICKET ITEMS SURGED IN MARCH AHEAD OF TARIFFS
Sales of so-called durable goods—items designed to last at least three years—jumped 9.2 percent in March, year on year, as businesses and households both brought planned purchases forward in time to beat Donald Trump’s 2 April “Liberation Day” tariff blitz.
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U.S. HOME SALES IN MARCH SHOW WORST SLUMP IN MORE THAN TWO YEARS
In March, home sales dropped 5.9 percent below February’s number, the worst month-to-month decline since November 2022, the National Association of Realtors (NAR) reported.
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JOBLESS CLAIMS INCH UP
In the week ending 19 April, the number of new claims for unemployment insurance rose from 216,000 to 222,000.
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AMERICANS FEAR GOING BROKE MORE THAN DYING
Sixty-four percent of Americans are more afraid of running out of money than of dying, according to a new survey by Allianz Life.
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AMERICANS ARE SCALING BACK THEIR STANDARDS FOR RETIREMENT
A year ago, Americans responding to a Northwestern Mutual survey said they needed an average of $1.46 million to retire comfortably.
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CONSUMERS REMAIN GLUM, MICHIGAN SURVEY FINDS
In its final April poll, the University of Michigan’s bimonthly survey of consumer sentiment rated households’ outlook for the economy at 52.2, down from 57 in March’s final sampling.
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42 PERCENT OF YOUNG AMERICANS ARE IN A FINANCIAL STRUGGLE
Among Americans under age 30, 42 percent report they are either “getting by with limited security” or “struggling to make ends meet,” according to a new survey by Harvard University’s Institute of Politics.
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WORRIED ABOUT THE FUTURE, CONSUMERS CUT SPENDING
U.S. consumers are continuing to reduce their spending on non-essential items such as snacks, airline flights, and eating out, The Wall Street Journal reported.
