News
The US Federal Reserve (Fed) reported that high tariff rates put upward pressure on costs and prices.
The US Federal Reserve (Fed) New York Branch reported that the majority of firms in its region are passing on some of the costs of rising tariffs to their customers.
The US Congressional Budget Office (CBO) predicted that the tariffs that went into effect would reduce the total budget deficit by $2.8 trillion between 2025 and 2035, but would slow the country’s economic growth rate.
The US Congressional Budget Office (CBO) estimated that the “tax cut” bill would increase the federal government’s budget deficit by $2.4 trillion by 2034.
Amazon announced that it plans to invest $10 billion to expand its cloud and artificial intelligence infrastructure in the US state of North Carolina.
US President Donald Trump stated that in his meeting with Russian President Vladimir Putin, Putin “clearly said that Ukraine will have to respond to the attack on Russian aircraft.”
Ukrainian President Volodymyr Zelenskyy invited Russia to hold leaders-level talks starting on Monday.
The European Automotive Components Association (CLEPA) reported that China’s new export restrictions on rare earth elements (REEs) are increasingly affecting automotive suppliers.
Gold held on to gains as expectations for the Fed to cut interest rates at least twice this year increased.
Oil fell on rising US inventories and price cuts in Saudi Arabia.
IMF Deputy Director Gita Gopinath said the effects of the trade war would be more severe than during the pandemic.
The Central Bank of the Republic of Turkey (TCMB) reported that annual inflation fell in all major groups, with a limited decline in core goods.
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