Inflation in the U.S. fell to 3.5 percent in June, year over year, dramatically slower than May’s 4.2 percent as the Iran ceasefire slashed oil prices and gasoline prices fell by about 10 percent, the biggest drop since 2022.
Tag: U.S. Economy
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AI REBRANDING TACTIC FALLS FLAT
Last April, Allbirds, a U.S. shoe company, decided to cash in on the AI frenzy by changing its name to Newbird AI.
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ECONOMIC UPDATE
As the Ukraine and Iran Wars ramp up, the world is on the precipice of World War III becoming “official.”
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BIG STOCK SALES OVERWHELM INVESTORS, THREATEN THE BULL MARKET
In the last few weeks, equity markets have been swamped by deals of a size rarely seen.
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U.S. IS PAYING $23.8 BILLION A WEEK IN INTEREST ON NATIONAL DEBT
During this fiscal year that began on 1 October, the U.S. government has been borrowing an average of $39 billion a week, running up a budget deficit so far of almost $1.4 trillion, and is now paying $23.8 billion a week in interest on that debt, Fortune magazine reported.
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SPOTLIGHT: AI STRAINS THE U.S. UTILITY INDUSTRY
AI’s surging power demand will continue for years.
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FED OFFICIAL URGES AN END TO FORWARD GUIDANCE
The U.S. Federal Reserve’s Open Market Committee routinely offers “forward guidance” – an indication of how interest rates might change in the future – after its meetings.
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U.S. TRADE DEFICIT GREW IN MAY
The U.S. global trade deficit leaped up 42.2 percent in May, year on year, to $77.6 billion, a 14-month high, driven by a record high value of imported capital goods, the commerce department reported.
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MORE AMERICANS HAVE STOPPED LOOKING FOR WORK
Although the U.S. jobless rate held steady at 4.2 percent last month, the number of Americans no longer looking for work because they have no expectations of finding a job is rising, according to a Newsweek analysis.
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LAST WEEK: S&P NEARS RECORD ON SK HYNIX’S BLOCKBUSTER IPO
Computer chips and AI were back in vogue last week.