Economy
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Bessent has 'very discreet plan' to reduce the $40 trillion national debt, Vance says
A 2024 analysis by the nonpartisan Committee for a Responsible Federal Budget estimated that Trump's policies during his first term added $8.4 trillion to the national debt over a 10-year period. That's compared with the $4.3 trillion Biden approved in his first three years and five months in office.
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Canada's Carney speaks with Trump as new 50% tariffs set to take effect at midnight
The new tariffs target about $20 billion worth of imports. These tariffs will be imposed even on products that qualify for preferential treatment under the U.S.-Mexico-Canada trade agreement, which has shielded much of Canadian industry from ​earlier U.S. tariffs.
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With tariffs set to come into effect Wednesday, Canada scrambles to negotiate: report
Despite meetings between Canadian and American negotiators over the last three weeks, the two countries can't move beyond an impasse in these last days before the tariffs take effect.
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US manufacturing activity hits 4-year high, manufacturing employment hits near 3-year high
Growth was seen in fifteen manufacturing industries, including electrical equipment, appliances and components, primary metals, transportation equipment, machinery as well as computer and electronic products. Activity in the technology sector was driven by the artificial intelligence buildout.
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Another California company to flee to Texas amid difficult business environment
The apparel and e-commerce company, which is expanding its sports apparel business, is leasing 70,000 square feet of warehouse and office space in the Texas town.
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Mortgage rates fall to the lowest level in 4 weeks, but still higher than before Iran war
The decline in mortgage rates corresponds to drops in oil prices and Treasury yields, which closely track mortgage rates.
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US retail sales drop unexpectedly as Americans curb spending following summer splurges
Retail sales fell 0.6% last month, which is the largest decrease since May 2025, compared with a revised gain of 0.2% in June, according to data the Commerce Department released on Friday.
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Home sellers are drawing from a dwindling pool of buyers, new data shows
Nearly 80% of major cities in the U.S. are now buyer's markets, defined as a market where the number of sellers is more than 10% higher than the number of buyers.
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Projected 2027 Social Security cost of living adjustment down slightly after inflation report
The Senior Citizens League cut its estimated 2027 Cost of Living Adjustment for Social Security to 3.6%. If that projection turns out accurate, the 2027 COLA will be the highest in four years.
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Annual inflation rate slows for second consecutive month: Labor Department report
The annualized rate in July was 3.4%, compared to 3.5% in June.
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US economy unexpectedly loses 23K jobs in July, unemployment rate hovers around 4%
Forecasters expected job gains for last month to be as high as 83,000.
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Jobless claims increased slightly while layoffs remain historically low, Labor Department reports
Unemployment filings in the week ending August 1 increased by 1,000 applications over the previous week, for a total of 199,000, according to Labor Department data reported on Thursday.
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U.S. and Japan conduct coordinated yen-buying intervention to ease volatility of Japan's currency
Tokyo said that it wouldn't hesitate to conduct further interventions in the future, should they be needed.