Topic
6 articles
US consumer inflation accelerated in May to its fastest pace in three years, driven by a sharp rise in gasoline prices amid escalating tensions with Iran. The CPI rose 0.5% month-over-month and 4.2% year-over-year. The data increases pressure on the Federal Reserve to raise interest rates, with markets now pricing in a growing chance of hikes later this year.
Former President Donald Trump is increasingly using tough and combative language in his campaign speeches, driven by concerns that a grim economic outlook could harm his reelection bid. Close advisers say Trump believes high inflation, rising prices, and a potential recession are critical vulnerabilities to exploit against the current administration. Recent polls show the economy remains the top issue for voters, and Trump's strategy aims to stoke fears and build support for his campaign.
Thousands of newly graduated US students face a tough job market as budget cuts, trade tensions, global conflicts, and AI reshape hiring. New job openings are down, federal cuts limit public-sector opportunities, and the unemployment rate for recent graduates stands at 5.6%—above the national average of 4.2%.
A US federal court has ordered the government to refund billions of dollars in tariffs collected on Chinese imports, marking a turning point in the debate over Trump-era trade policy. Business groups welcomed the ruling, while Trump supporters said it undermines domestic manufacturing. Analysts warned it could further complicate US-China trade relations and global supply chains.
The U.S. Federal Reserve maintained its benchmark interest rate at 3.5-3.75% during Chair Jerome Powell's final policy meeting, citing inflationary pressures from the Middle East conflict and a sluggish labor market. The decision was widely expected, with 100% of investors forecasting no change.
The US Senate Banking Committee voted along party lines on April 30 to approve Kevin Warsh as Fed Chair nominee. The full Senate will vote on confirmation as early as May 11, replacing Jerome Powell whose term ends May 15.
