In June, Americans kept their spending habits going strong, even as prices started to climb due to new tariffs. The Commerce Department shared that retail sales grew by 0. 6% from May, bouncing back from a big drop in May. Experts expected a much smaller increase, so this was a pleasant surprise. Car dealerships saw a big boost, with sales jumping by 1. 2%. Restaura...
Susan Collins, who leads the Federal Reserve Bank of Boston, thinks the economy is strong enough to handle tariffs without needing quick action from the Fed. She believes businesses and households are in good shape, which might help soften the blow of higher tariffs. This gives the Fed time to carefully watch how things unfold before making any moves on interest rate...
Prices in the US are going up. In June, the cost of living rose by 0. 3%, making the yearly increase hit 2. 7%. This is the highest it's been in four months. Experts expected this rise, especially because gas prices went up. But it's not just gas. Other goods are getting more expensive too, thanks to tariffs. Tariffs are taxes on imports. President Trump has been pu...
The US car market is facing tough times. After a quick rise in sales earlier this year, things have slowed down. People are buying fewer cars, and prices are going up. This is happening because of new taxes on imported cars, higher prices, and worries about the economy. Experts say that car sales might stay low for the rest of the year. This is a big change from las...
Brides-to-be are facing a tough choice these days. The cost of wedding dresses is going up. Why? Because of tariffs on dresses made in China. Most wedding dresses sold in the U. S. come from China. So, when the U. S. government put a big tax on these dresses, the price went up. This is causing a lot of stress for brides. They are used to spending a certain amount on...
The Federal Reserve faces a tricky situation. The economy is doing pretty well, but there are some worrying signs. Inflation is going down, and unemployment is low, at 4. 2%. But here’s the twist: President Trump’s tariffs might make inflation go up and slow down growth. So, what’s the Fed to do? They’re likely to keep the key interest rate at 4. 4% for now. They’ll ...
HP, a major player in the tech world, recently shared its second-quarter results. The news? It's a mix of good and bad. On one hand, the company's revenue was higher than what experts predicted. On the other hand, earnings and future predictions fell short, partly due to President Donald Trump's tariffs. This news sent HP's stock price tumbling by 15%. Let's break i...
Nvidia is gearing up to share its financial results for the first quarter of the fiscal year. This event is highly anticipated, as it will shed light on how the company is handling the tariffs introduced by former President Donald Trump. Additionally, investors are eager to see how Nvidia is faring in the competitive Chinese market, where its share has been decreasin...
The retail world is facing tough times. A major retailer has recently shared some worrying news. The company's latest quarterly report showed a drop in sales. This dip was blamed on two main factors: consumer anxiety over tariffs and a backlash from a policy change. Tariffs have been a hot topic. They are taxes on imported goods. The CEO of the retailer warned ...
The U. S. Treasury Secretary, Scott Bessent, recently hinted that Walmart, the nation's biggest retailer, might increase prices due to President Trump's tariffs. This came after Trump warned Walmart not to raise prices and promised to keep a close eye on the situation. The conversation between Bessent and Walmart's CEO, Doug McMillon, happened just a day after Trump...