The Consumer Price Index in March rose 2.4% on an annual basis, showing progress in the Federal Reserve’s battle to bring down inflation to a 2% rate. By the numbers The CPI was forecast to rise 2.6% last month, according to economists polled by financial data firm FactSet. The CPI, a basket of goods and…
Postal workers rally against any efforts to dismantle USPS Postal workers rally against any efforts to dismantle USPS 00:57 The U.S. Postal Service is seeking a rate increase this summer that includes hiking the cost of a first-class stamp from 73 cents to 78 cents. The request was made Wednesday to the Postal Regulatory Commission,…
Washington’s decision to impose reciprocal tariffs on Chinese goods could force Hong Kong manufacturers to cut jobs or even close down, as many businesses are set to struggle to navigate global trade frictions, analysts have warned. Experts also said the sweeping tariffs would create a vicious cycle where consumption in the US would greatly diminish…
US President Donald Trump has imposed sweeping global tariffs, including a 10% baseline levy on all imports into the US, which came into force last week. But do UK local authorities have anything to worry about? Since announced, Trump’s tariffs have sparked a stock market rout, deepening further today after the president signalled he would…
Hong Kong Financial Secretary Paul Chan Mo-po warned of more volatile trading ahead but refrained from intervening in the market after the city’s benchmark Hang Seng Index suffered its steepest fall in decades on Monday amid fears over repercussions of US President Donald Trump’s trade war. While Chan held off from introducing measures, he nevertheless…
US President Donald Trump on Monday boasted the success of tariffs on its “biggest abuser,” China, claiming that Chinese markets have been crashing since the imposition of duties on US imports. US President Donald Trump on Monday claimed that America was bringing in “billions of dollars” and that prices of oil, food and other amenities…
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s mortgage market, for years almost non-existent due to spiraling triple-digit inflation and high borrowing costs, is starting to show signs of coming back to life under the pro-market reforms of libertarian President Javier Milei. Monthly new mortgages in Buenos Aires province, home to 40% of the country’s…
China’s state-run media has taken to the internet with AI-generated videos, featuring dancing robots and fraught consumers, to chide U.S. President Donald Trump and tariffs they say threaten high inflation and economic distress for Americans. “‘Liberation Day’, you promised us the stars. But tariffs killed our cheap Chinese cars,” an automated female voice sings in…
When announcing his latest round of tariffs on April 2, President Trump veered into the subject of eggs, noting that prices “dropped now 59%, and they’re going down more, and the availability is fantastic.” Wholesale egg prices — or the price paid by large buyers like grocery stores — have declined 43% since year start,…
The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth, and the Federal Reserve will focus on keeping price increases temporary, Fed Chair Jerome Powell said Friday. The Fed chair’s remarks come two days after Trump unveiled sweeping tariffs that have upended the global economy and sent stock prices in the…