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Fed Approves First Rate Cut Of 2025 As Job Market Slumps: What To Know Fed Approves First Rate Cut Of 2025 As Job Market Slumps: What To Know
Fed Approves First Rate Cut Of 2025 As Job Market Slumps: What To Know The Federal Reserve has cut its key interest rate for the first time in 2025 amid a slowing job market and economic pressure from President Donald Trump's tariffs. The Fed approved the quarter-point reduction to interest rates on Wednesday, Sept. 17. The overnight funds rate will drop to between 4% and 4.25%, in the first rate cut since December 2024. The cut comes as the Fed warns about rising prices and a slumping labor market. "Recent indicators suggest that growth of economic activity moderated in the first half of the year," the Fed said in a news release. "Job gains have slowed,…

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by Chris Spiker
Business
Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens
Jobless Claims Hit Four-Year High, Inflation Jumps As Labor Market Weakens Inflation rose faster in August while jobless claims spiked to their highest level since 2021, signaling a weakening job market as President Donald Trump's tariffs shake the economy. Consumer prices rose 0.4% in August and reached a yearly rate of 2.9%, according to Bureau of Labor Statistics data released on Thursday, Sept. 11. That's the biggest monthly jump since January, when yearly inflation was 3.0%. Core inflation, which excludes volatile food and energy prices, climbed 0.3% in August and 3.1% over 12 months. Shelter, which makes up about one-third of the Consumer Pric…

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by Chris Spiker
Business
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy Prices for a wide range of products increased in July, even as inflation held steady, with economists expecting President Donald Trump's tariffs to further raise costs for many Americans. The Consumer Price Index rose by 0.2% in July and reached a yearly rate of 2.7%, according to data released by the Bureau of Labor Statistics on Tuesday, Aug. 12. That was barely lower than the 2.8% annual inflation expected in the Dow Jones forecast, CNBC reported. Core inflation, which doesn't include the volatile food and energy categories, jumped by 0.3%, bringing the annual rate to 3.1%. That's the hi…

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by Chris Spiker
Business
Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP
Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP Private employers lost more jobs than they added for the first time in more than two years, as new data shows Americans pulling back on spending under the weight of inflation and President Donald Trump's sweeping tariffs. Businesses lost 33,000 jobs in June, according to the ADP National Employment Report released on Wednesday, July 2. That was the first monthly drop since March 2023 and behind May's downwardly revised figure of 29,000. June's numbers came in far below Wall Street's expectations, with Dow Jones economists forecasting a gain of 100,000 jobs, CNBC reported. "Though…

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by Chris Spiker
Business
Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy
Inflation Ticks Up, Spending Slips As Trump's Tariffs Tighten Grip On Economy Consumer spending cooled in May as inflation crept higher, signaling new pressure on Americans' wallets amid President Donald Trump's sweeping tariffs. The Federal Reserve's primary inflation reading, the personal consumption expenditures price index, rose 0.1% in May to an annual rate of 2.3%, according to Bureau of Economic Analysis data released on Friday, June 27. Those increases matched ones forecasted by Dow Jones economists, CNBC reported. Core inflation, which excludes food and energy, rose by 0.2% in May to 2.7%, slightly ahead of the 0.1% and 2.6% forecasts. Th…

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by Chris Spiker
Business
Private Job Growth Hits Two-Year Low Amid Trump Tariffs: 'Hiring Is Losing Momentum' Private Job Growth Hits Two-Year Low Amid Trump Tariffs: 'Hiring Is Losing Momentum'
Private Job Growth Hits Two-Year Low Amid Trump Tariffs: 'Hiring Is Losing Momentum' Private hiring sharply declined to its slowest pace in more than two years as President Donald Trump's sweeping tariffs have shaken the economy throughout 2025. Businesses added just 37,000 jobs in May, according to the ADP National Employment Report released on Wednesday, June 4. That was the lowest level since March 2023, falling below April's downwardly revised figure of 60,000. The disappointing job total missed the Dow Jones forecast of 110,000, CNBC reported. "After a strong start to the year, hiring is losing momentum," ADP chief economist Dr. Nela Richardson said. "Pay growth, howe…

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by Chris Spiker
Business
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…

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by Chris Spiker
News
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker