The labor market is not as strong as it initially appeared. A massive government revision released Tuesday showed the US economy added 911,000 fewer jobs in the 12 months through March 2025 than initially reported — the steepest downgrade in at least two decades, according to preliminary estimates from the Bureau of Labor Statistics. That […]
A judge temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations of mortgage fraud. In an early win for the embattled economist, US District Judge Jia Cobb in Washington granted Cook’s request to continue […]
Gold held near its latest record reached on Monday, with its rally stoked by a surge in bets for a wave of Federal Reserve rate cuts this year. Bullion was little changed in early Asian trading, trading at around $10 short of its latest peak of $3,646.46 an ounce. It climbed 2.5% in the previous […]
The stage may be set for the world’s use of fossil fuels to begin dropping in about five years time, thanks to China’s rapid adoption of renewables and its increasing reliance on electricity, clean energy think tank Ember said in a report on Tuesday. The researchers identified how fossil fuel consumption could be pressured into […]
South Korea’s biggest conglomerates are rushing to contain fallout from a sweeping US immigration raid at a Hyundai Motor Co. (005380.KS, HYMLF)-LG Energy Solution Ltd. battery venture in Georgia, that’s sparked concerns over billions of dollars in planned investments. “We are well aware of the concerns that have been raised regarding our investment in the […]
The record-breaking rally in US stocks is set to extend as laggards including small caps play catch-up amid a resilient economic outlook, according to Goldman Sachs Group Inc. strategists. The team led by David Kostin said a limited group of stocks had driven gains so far, with the median constituent in the S&P 500 Index […]
The August jobs report on Friday morning confirmed what the market had expected after July’s slowing job growth and prior months’ revisions: The labor market’s Cal Ripken-esque run of indefatigability has ended. The data revealed the economy added 22,000 jobs in August, weaker than the 75,000 economists expected, and the unemployment rate rose from 4.2% […]
A series of appearances this past week saw Chinese President Xi Jinping all smiles alongside a variety of America’s rivals. The events — a summit that was then followed by a military parade — have gotten plenty of notice. And they’ve clearly gotten under President Trump’s skin, with the president’s latest missive on Friday declaring […]
A weak jobs report released Friday likely sealed an interest rate cut at the Federal Reserve’s next policy meeting later this month, as the Trump administration once again stepped up its criticisms of central bank chair Jerome Powell for not acting sooner. “Jerome Powell needs to do his job and cut those interest rates now,” […]
President Donald Trump’s pick to lead a crucial US economic statistics agency moved closer to a public confirmation hearing even as some economists have questioned his qualifications to lead the Bureau of Labor Statistics. The Senate Committee on Health, Education, Labor and Pensions has received paperwork for EJ Antoni’s appointment and plans to hold a […]
In Federal Reserve Chairman Jerome Powell’s view, the Fed isn’t responsible for the woes of the housing market. “Housing is a special case,” he said in July. “We don’t set mortgage rates at the Fed, right?” It’s the country’s long-running housing shortage, Powell argued, that is to blame for today’s affordability challenges. “I think the […]
The US labor market is slowing down. After a round of weaker-than-expected job market figures this week, the Bureau of Labor Statistics (BLS) will release the August jobs report on Friday morning at 8:30 a.m. ET. The report is expected to confirm these trends seen elsewhere in the US economy. Economists expect the US economy […]
