Economy & Central Bank News — page 20

The Fed is set to hold rates at 3.50%-3.75% on June 17 in Kevin Warsh's first meeting as chair, with markets ~97% sure of no change — and focus on whether the dot plot drops to zero cuts for 2026 and the statement loses its easing bias.

A bipartisan group of senators is urging the Treasury Department to keep state regulators involved as it develops the process for applying the GENIUS Act to stablecoins.

The Federal Reserve’s next policy update has drawn attention as officials weigh another interest-rate move amid inflation concerns, with retirees among the groups likely to feel the effects.

Reports said SpaceX’s market value climbed enough to overtake Amazon and briefly move ahead of Microsoft, drawing fresh attention to how investors should interpret the company’s valuation.

Asset managers have filed for exchange-traded funds built around artificial intelligence and the newly coined “MANGOS” stock group as Wall Street looks for fresh ways to package the AI trade.

Snap is backing its new AR glasses as a long-term consumer bet, with CEO Evan Spiegel defending the product amid activist pressure and framing the device as part of a post-smartphone future.

Olin and Huntsman have agreed to combine in an all-stock merger of equals as the chemicals industry faces a difficult operating backdrop.

Labor Department data showed U.S. import prices climbed more than forecast in May, while export prices also increased, pointing to firmer trade-related price pressures.

Yum Brands is selling Pizza Hut to private equity firm LongRange Capital for $2.7 billion, ending years of weakness at the pizza chain.

SpaceX’s post-IPO rally has pushed its market value to about $2.1 trillion, with reports saying the company is now positioned to move ahead of Amazon in market-cap terms.

A U.S. Air Force B-52 Stratofortress crashed shortly after takeoff from Edwards Air Force Base, with the eight-member crew presumed dead, according to reports.

General Motors is said to be discussing a role in supplying weapons parts to Lockheed Martin as the Pentagon looks to rebuild inventories and widen its defense-industrial base.

Anthropic is set to meet with Trump administration officials after receiving an export control directive tied to access to its latest AI models.

SpaceX’s share sale reached a total of $85.7 billion after underwriters exercised an overallotment option, while investor Ron Baron said he bought $1 billion of shares.

A US-Iran deal prompted a relief move across energy, shipping and crypto markets, though traders and shippers remained wary of how durable the change may be.

Reports said a UFC contest at the White House brought together sport and politics, while fighter bonuses were paid in USD1, a stablecoin linked to Trump-backed World Liberty Financial.

Reports of a U.S.-Iran agreement and planned talks eased some inflation concerns, pushing Treasury yields lower and prompting traders to rethink the path of Fed rate hikes.

Kevin Warsh’s first week as Federal Reserve chair has drawn attention to his record on central bank independence, while economists say they are still unsure how he will present himself.

Coverage from Investing.com and Nasdaq said a SpaceX IPO pushed Elon Musk into trillionaire territory, with his SpaceX holding now far larger than his Tesla stake.

The 2026 World Cup is expected to boost U.S. activity through digital advertising, travel and spending, while MarketWatch points to an unusual pattern tying team results to domestic stock markets.

US CPI held at 2.4% in February (core 2.5%), in line with forecasts, with rent posting its smallest rise in five years — the last pre-war inflation reading before the Iran-war energy shock began driving prices sharply higher.

US nonfarm payrolls unexpectedly fell 92,000 in February, against forecasts for a gain, as unemployment rose to 4.4% — a strike, winter weather and federal cuts weighing on a labor market already cooling just as the Iran war began.

The Fed held rates at 3.50%-3.75% on March 18 in an 11-1 vote, its first meeting since the Iran war began, raising its 2026 inflation forecast to 2.7% but keeping a one-cut dot plot as Powell said it was "too soon to know" the war's full impact.

US retail sales jumped 1.7% in March, but the surge was largely a gasoline-price effect — pump prices rose ~35% to above $4 a gallon — masking softer real demand, even as auto sales hit their fastest pace in six months.

The ECB held its deposit rate at 2% and the Bank of England held at 3.75% on April 30, both caught between Iran-war energy inflation and slowing growth — with the BoE's 8–1 vote featuring its first dissent for a rate hike since 2023.

US nonfarm payrolls rose 178,000 in March, rebounding from February's 133,000 decline and beating the ~59,000 expected, with unemployment at 4.3% and wage growth cooling to 3.5% — a steadier but still-sluggish labor market just as the Iran war began.

US headline CPI jumped 0.9% in March to a 3.3% annual rate — the highest since May 2024 — as the Iran war sent gasoline up 21% and pushed pump prices above $4 a gallon, in the first inflation reading since the conflict began.

US Q1 GDP was revised down to 1.6% (from a 2.0% advance estimate), accelerating from Q4's 0.5% but flattered by trade swings — and capturing barely a month of the Iran war, leaving most of the energy-shock drag still ahead.

FOMC minutes released May 20 showed a divided Fed: the April hold drew four dissents — the most since 1992 — and many officials wanted to drop language hinting at future rate cuts as the Iran-war energy shock pushed inflation higher.

US consumer sentiment fell to 44.8 in May, the lowest in the survey's history since 1952, as Hormuz-driven gasoline prices and inflation fears crushed confidence and pushed long-run inflation expectations up to 3.9%.