Breaking News: Economy
Bessent floats extending tariff pause for countries in ‘good faith’ trade talks
U.S. Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee in the Rayburn House Office Building on June 11, 2025 in Washington, DC. Bessent testified on the priorities of the Treasury Department. Kevin Dietsch | Getty Images Treasury Secretary Scott Bessent signaled the Trump administration’s openness on Wednesday to extending President Donald […]
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U.S. budget deficit hit $316 billion in May, with annual shortfall up 14% from a year ago
The U.S. Department of the Treasury building is seen in Washington, D.C., Jan. 19, 2023. Saul Loeb | Afp | Getty Images The U.S. government drifted further into red ink during May, with a burgeoning debt and deficit issue getting worse, the Treasury Department reported Wednesday. After running a short-lived surplus in April thanks to […]
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U.S. tariffs on China won’t change again, Lutnick says after trade talks
Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized. Asked on CNBC’s “Money Movers” if the current U.S. tariffs on China are not going to change again, Lutnick replied, “You […]
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Here’s the inflation breakdown for May 2025 — in one chart
Key Points The consumer price index rose 2.4% on an annual basis in May 2025, up from 2.3% in April, according to the Bureau of Labor Statistics. Inflation trends are largely encouraging under the surface, and roughly back to the Federal Reserve’s target level, economists said. However, President Trump’s tariff policy is likely to cause […]
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JPMorgan’s Jamie Dimon warns U.S. economy could soon ‘deteriorate’
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview at the JPMorgan Chase & Co. Capital Markets conference in Paris, France, on Thursday, May 15, 2025. Cyril Marcilhacy | Bloomberg | Getty Images The impacts of the pandemic-era government spending and monetary policy that helped support the U.S. economy […]
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U.S. inflation rises 0.1% in May from prior month, less than expected
Consumer prices rose less than expected in May as President Donald Trump’s tariffs had yet to show significant impact on inflation, the Bureau of Labor Statistics reported Wednesday. The consumer price index, a broad-based measure of goods and services across the sprawling U.S. economy, increased 0.1% for the month, putting the annual inflation rate at […]
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Trump says D.C. military parade protesters will be met with ‘very heavy force’
U.S. President Donald Trump speaks in the Oval Office at the White House in Washington, D.C., U.S., June 10, 2025. Nathan Howard | Reuters President Donald Trump warned Tuesday that protestors at his upcoming military parade in Washington, D.C., will be met with “heavy force.” “We’re going to be celebrating big on Saturday,” Trump said […]
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10-year Treasury yield slips as U.S.-China trade talks enter second day
The 10-year yield slipped on Tuesday as U.S. and Chinese officials continued trade negotiations in London for a second day. The 10-year Treasury yield was down by 1.2 basis points at 4.472%. The 2-year yield added more than one basis point to 4.016%. The 30-year yield was lower by 2.3 basis points to 4.931%. One basis point […]
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World Bank sharply cuts global growth outlook on trade turbulence
Cargo shipping containers are loaded with cranes on container ships at the Burchardkai container terminal at the harbour of Hamburg, northern Germany, on June 3, 2025. Fabian Bimmer | Afp | Getty Images The World Bank sharply cut its global economic growth projections Tuesday, citing disruption from trade uncertainty in particular. It now expects the […]
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JPM recommends selling Tesla. Here’s a breakdown of the call
CNBC’s Phil LeBeau joins ‘Money Movers’ to discuss Boeing’s May orders and JPM recommending to sell Tesla. Source
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