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.
Tag: U.S. Economy
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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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ECONOMIC UPDATE—MARKET OVERVIEW
As we have been forecasting since Donald Trump won the race to the White House in 2024, round-and-round it goes, and where it stops nobody knows. Again, by the facts, it is a pure guessing game as to what Trump Cards and Wild Cards will be played next.
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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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SPOTLIGHT: BIGS GETTING BIGGER
Brown & Brown, an insurance company with more than 450 locations around the world, will pay $9.83 billion in cash and stock for Accession Risk Management Group.
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SPECIAL REPORT: TRUMP’S TARIFFS, THE UPS AND DOWNS, FOR BETTER AND FOR WORSE
On 12 June, the U.S. dollar fell to its lowest value since March 2022. The buck lost ground after Donald Trump told reporters he will send letters shortly to trading partners assigning them tariff rates when the 90-day pause on the new “Liberation Day” rates runs out in early July.
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SPECIAL REPORT: ARTIFICIAL INTELLIGENCE EATS THE AD INDUSTRY
As Amazon, Meta, and other tech giants automate advertising using artificial intelligence (AI) tools, advertising agencies wonder if they have a future.
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TRUMP CALLS FED CHAIR POWELL “NUMSKULL”
Donald Trump again insulted Jerome Powell, chair of the U.S. Federal Reserve, calling him a “numskull” because the central bank has not lowered its key interest rate as Trump has been demanding.
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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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CITI RAISES LOAN LOSS RESERVE AMID POSITIVE ECONOMIC SIGNS
In the current quarter, Citi will raise its cash reserve against bad loans by “a few hundred million dollars…given the macro environment and [interest rates] compared to the last quarter,” Viswas Raghavan, the company’s executive vice-chair and head of banking, told a Morgan Stanley financial conference on 10 June.