Economy

US Core Inflation Rises 3.3% in July, Clouding Fed’s Rate Path

US core PCE prices rose 3.3% annually in July, below forecasts but above the Fed's 2% target, clouding the outlook for September interest rate decisions.

Bank of Korea Raises Rate to 3% in Second Straight Hike

The Bank of Korea raised its benchmark rate 25 basis points to 3.0% on Thursday, a second straight hike backed by a chip-led export boom.

Warsh Cuts Fed Statement to 130 Words, Drops All Rate-Cut Language

Fed Chair Kevin Warsh shortened the post-meeting statement to 130 words from 341, removing all mention of future rate cuts and hinting at higher-for-longer

Trump Demands FCC Punish NBC Host, Treasury Bars Reporters From G20

Trump called for FCC punishment of NBC host Kristen Welker on Sunday as the Treasury barred NYT, WSJ and Bloomberg reporters from G20 events.

Bessent Says U.S. Will Sanction Another Bank Over Iran Ties This Week

Treasury Secretary Scott Bessent said the U.S. will sanction another bank this week to clamp down on Iran transactions, ahead of G20 meetings in North Caro

US Core Inflation Rises 3.3% in July, Clouding Fed’s Rate Path

US core PCE prices rose 3.3% annually in July, below forecasts but above the Fed's 2% target, clouding the outlook for September interest rate decisions.

Trump Lifts Tariffs on 300,000 Tonnes of Ground Beef for 90 Days

President Trump will allow tariff-free imports of up to 300,000 metric tonnes of ground beef for 90 days to ease U.S. prices amid a shrinking cattle herd.

Japan Exports Jump 23.2% in July, But Energy Costs Widen Trade Deficit

Japan's July exports jumped 23.2% on strong chip and auto shipments, but record imports and high energy costs extended its trade deficit for a third month.

US Mortgage Rates Ease to 6.65%, Still Above Last Year’s Levels

The 30-year fixed U.S. mortgage rate slipped to 6.65% this week, Freddie Mac said Thursday, but rates remain higher than a year ago, limiting buyers.

US Retail Sales Fall 0.6% in July as Tax-Refund Boost Fades

U.S. retail sales fell 0.6% in July, the biggest drop since May 2025, as tax-refund spending faded and shoppers cut back on electronics and online purchase

US Wholesale Prices Flatten in July as Gas and Food Costs Fall

U.S. wholesale prices were flat in July, below expectations, as gas and food costs fell and annual producer inflation slowed to 4.7%.

US Mortgage Rates Fall to 6.67%, First Drop in Six Weeks

The average U.S. 30-year mortgage rate fell to 6.67%, its first decline in six weeks, though borrowing costs remain higher than a year ago.

US Inflation Eases to 3.4% in July Despite Energy Price Shocks

US consumer inflation slowed to 3.4% in July 2026 despite energy price shocks, though costs for essentials remain elevated as the Fed weighs its next move.

Social Security COLA Could Reach 3.6% in 2027, Boosting Retiree Checks

A new estimate projects Social Security's cost-of-living adjustment could reach 3.6% in 2027, a larger raise than the 2.8% increase set for next year.

US Credit Card Debt Climbs to $1.26 Trillion, Nearing Record

US credit card balances rose to $1.26 trillion in Q2 2026, nearing last year's record high of $1.28 trillion, a New York Fed report shows.

US Mortgage Rates Stop Rising, Nudging Homebuyer Demand Back

US mortgage rates eased slightly this week, halting a run of increases and drawing modest homebuyer and refinance demand back into a subdued market.

U.S. July Inflation Report Lands Wednesday, Shaping Fed’s Next Rate Move

The U.S. consumer price index due Wednesday is expected to show a modest July rise, giving the Federal Reserve a key signal on its next rate move.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

China Unveils Drone Export Controls, Sanctions on Six US Firms Over Trade Restrictions

China announced drone export controls and a ban on dealings with six American entities in response to recent US trade restrictions, deepening tensions.

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