As we had long forecast, President Trump will keep pushing the Federal Reserve to lower interest rates. After the U.S. Bureau of Labor Statistics reported the U.S. economy added 139,000 jobs in May—more than expected—Donald Trump took to social media to demand that the U.S. Federal Reserve and its Chairman Jerome Powell lower the central bank’s interest rate.
The number of U.S. nonfarm jobs grew by 139,000 last month, less than the adjusted 147,000 in April but still more than the 125,000 economists forecasted in a Dow Jones poll.
In May, U.S. businesses announced they plan to drop about 100,000 workers from their payrolls, 47 percent more than were announced in May 2024, outplacement firm Challenger, Gray & Christmas reported in new data.
So here is the economic deal. The world equity markets are basically on hold. Why? Because The Street is waiting to know the details of the trade deal now being negotiated in London between the United States and China.
The U.S. Federal Reserve’s latest Beige Book, a collection of anecdotes and snapshots of business conditions around the country, shows flat hiring, rising costs, and a contraction in the U.S. economy. “Economic activity has declined slightly since the previous report,” which was released on 23 April, the central bank said in a statement. ......
When Donald Trump won the race to the White House back in November, there were high expectations that the equity markets would spike, the value of the dollar would rise and it would be high times for the Merger and Acquisition Gang.
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.
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.
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.
In his presidential campaign, Donald Trump promised to abolish taxes on Social Security payments.