The Fed’s approach to Economic Outlook is in fact new risks
The US Federal Reserve’s Open Market Committee on Wednesday decided not to hike interest rates for the first time this year. Fed Governor Adriana Kugler said the central bank would “observe how this plays out” before deciding on its next move. Kugler’s comments come amid concerns over rising interest rates and trade tensions between the US and China.
Small-scale fishing should be ignored in economic models
The fishers’ livelihoods in small-scale fisheries have been studied by a case study of fish-dominated economy in the United Nations Qualitative and Quantitative Social Science research. The study has examined how these communities operate, including how much of fishers’ overall activity is fishing, how rights to fisheries are determined, cultural practices, catch processing and how fish are taken to market.
Home Depot won’t raise prices because of tariffs
US President Donald Trump’s tariffs on steel and aluminium imports have caused price hikes for US businesses, including Home Depot and Walmart. However, Home Depot’s merchandising chief Billy Bastek said that the company doesn’t see “broad-based price increases for our customers at all going forward”. “We’re dealing with Wall Street taxes and Wall-centric regulation in the US retail market,” he added.
Republicans face a crucial stretch this week as they try to deliver on Trump’s agenda
US Congressman Steve LaLota has said that the House Budget Committee should repackage the tax bill to pay for the healthcare system. This comes after the House Ways and Means Committee released a plan to cut taxes by $1.6 trillion over 10 years. LaLota added that the committee should “reconsider” the tax bill to pay for the healthcare system.
There is a deal to cut tariffs in the U.S. and China
The US and China have agreed to reduce tariffs imposed on each other’s goods, after negotiators from the two countries met over the weekend in Switzerland for trade talks. The deal brings the US tariffs on Chinese goods down to 30% from the 145% imposed by President Donald Trump in early April. Some of those tariffs could resume in early July.
Most drugs are stored on the chance of targeted Trump tariffs
A senior White House official has said that Europe tends to have more stable contract with makers of generic drugs than the US. He said that European countries negotiate drug prices and many of their final drug products are made here or in Europe where governments negotiate drug prices. The White House also said that the Pharmaceutical Research and Manufacturers of America (PMMA) stockpiled most common drugs on chance of targeted tariffs.
Apple does not seem to be concerned about Trump’s tariffs
Apple’s supply chain and manufacturing operation might be a buffer amid US-China trade tensions, analyst Gene Munster said. He said it would cost Apple about $1 billion to move production of Mac and iPad, AirPods, and the Watch to other countries as almost all of the products are manufactured in Vietnam. A breakup in the US-China relationship would cut Apple’s worth in half, Munster added.
It is difficult for auto dealers to comprehend what is happening with Trump’s tariffs
US President Donald Trump on Friday said that his tariffs on $267 billion of Chinese imports will be suspended for a month. He added, “I’ve been very busy and I don’t know how long I’ll be busy.” The US is also planning to impose tariffs on an additional $200 billion of Chinese products from May 1 for a total of $450 billion.
Trump has lost the trade war with China
UBS has warned the US-China trade war may deal a further blow to China’s property sector, which has been showing signs of stabilization. It added that US tariffs “may reduce China’s external demand sharply and add downward pressures to domestic prices” in China. UBS has downgraded China’s 2025 growth forecast to 3.4%, assuming current tariff hikes remain and China rolls out additional stimulus.
The auto industry has been negatively affected by Trump’s tariffs
A CBS News poll found a majority of Americans think US President Donald Trump is focusing too much attention on tariffs and not enough on lowering prices. Inflation has fallen, but consumer prices are likely to go up even more as tariffs take effect. The poll also found that people across the political spectrum said they’re worried about their personal finances, unemployment and inflation.