American companies will be exempt from penalties related to a 2021 global minimum tax deal that President Trump opposes.
Category: United States Economy
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PCE Inflation Was Slightly Hotter in May as Economists Brace for Trump’s Tariffs
Most economists and policymakers are bracing for price pressures to intensify this summer because of President Trump’s tariffs.
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Trump Administration Tells Congress to Kill ‘Revenge Tax’ From Policy Bill
Treasury Secretary Scott Bessent said the Group of 7 agreed that penalties related to a 2021 “global minimum tax” deal will not apply to American companies.
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Crypto Industry Moves Into the U.S. Housing Market
Americans are finding ways to use digital currencies to help them buy homes, and new companies are forming to help people tap their home’s value to buy Bitcoin.
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Fed Governor Calls for Rate Cuts as Soon as July
Christopher J. Waller, who was appointed by President Trump, said the central bank should not wait for the labor market to weaken.
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Trump’s Two-Week Iran Notice Gives Markets a Lift
The president said he could take that long to decide whether to join a military fight against Iran. But that does little to quell investor uncertainty.
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Fed’s Interest-Rate Approach Keeps It on Collision Course With Trump
The central bank signals little urgency to cut interest rates despite demands from President Trump for lower borrowing costs.
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Record Debt Limit Increase Would Break Republican Precedent
A proposed $5 trillion debt limit increase could make it hard for Republicans to maintain their fiscal hawk credibility.
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Fed Holds Rates Steady, but Sees Higher Inflation and Lower Growth Ahead
Officials at the Federal Reserve left interest rates unchanged, as they brace for the effects of President Trump’s policies on trade, taxes and immigration.
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The Fed Isn’t Calling It ‘Stagflation,’ but the Risks Are Rising
President Trump’s trade war is likely to lead to higher prices and slower growth, a challenging combination for the Fed. War in the Middle East could make the job harder still.
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Trump’s Trade Policies Prompt Companies to Raise Prices, Cut Staff
Consumers are starting to pull back spending as President Trump’s trade policies ripple through the economy.