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Economics Headlines
Russia’s economy shows first quarterly contraction in three years reuters.com
The Russian economy contracted by 0.3% in the first quarter, marking its first quarterly contraction since early 2023, preliminary data showed on Wednesday, as the Ukraine war, Western sanctions, and high interest rates took their toll.
Source: reuters.com
Powell will remain on Fed board until DOJ probe is over nbcnews.com
Outgoing Federal Reserve chair Jerome Powell said he plans to keep a “low profile” as a governor after his successor Kevin Warsh takes over as chair.
Source: nbcnews.com
Economic analysis finds PSU art center could generate more revenue, jobs than Keller koin.com
A new economic analysis comparing Portland State University’s proposed Performing Arts + Culture Center would provide greater economic benefit than a renovated Keller Auditorium.
Source: koin.com
Powell Says He Will Stay on as Fed Governor After Term as Chair Ends nytimes.com
Jerome H. Powell cited lingering legal threats against him and the Federal Reserve in explaining his decision to remain at the central bank.
Source: nytimes.com
The market on the Mekong washingtonpost.com
Communist Vietnam is a state-run command economy in name only. The U.S. acknowledging that will lower prices for Americans and coax Hanoi away from China.
Source: washingtonpost.com
The Troubles Gnawing Away at Dollar Hegemony bloomberg.com
The sweeping imposition of US tariffs a year ago didn’t wreck the global economy. Nor did it knock the dollar from its pedestal. The legions of greenback antagonists who foresee its demise every decade have been given pause. Yet they may be on to something.
Source: bloomberg.com
Hilton’s CEO says the economy is actually C-shaped to the benefit of the middle class. Most of his competitors disagree fortune.com
Hilton is the contrarian in a travel and hospitality sector that has been leaning into luxury as its primary growth engine.
Source: fortune.com
US Fed holds rates steady in Powell’s final meeting as Fed Chair aljazeera.com
The central keeps interest rates steady at 3.5 – 3.75 percent amid inflation concerns and global economic strain.
Source: aljazeera.com
Fed Holds Rates Steady in Powell’s Last Meeting as Chairman usnews.com
The Federal Reserve, as expected, voted to hold interest rates steady in what will most likely be the final meeting of Chairman Jerome Powell’s tenure. The statement from the Fed was brief, acknowledging that “economic activity has been expanding at a solid pace.” But it also mentioned higher levels …
Source: usnews.com
Fed Meeting Live Updates: Senate Committee Votes on New Fed Chair Before Powell’s Last Meeting nytimes.com
Kevin Warsh’s nomination to lead the Federal Reserve is expected to clear the Senate Banking Committee, ahead of the central bank’s latest interest rate decision.
Source: nytimes.com
What the Fed has seen about the war’s impact on the economy so far reuters.com
Federal Reserve officials last met just over two weeks into the U.S.-led war on Iran and then had little data at their disposal beyond surging gasoline prices to assess its impact on the economy and the outlook for interest rates.
Source: reuters.com
Retiring Boomers Are Starting to Weigh on the U.S. Economy barrons.com
An Implan analysis estimates that retirements among older workers are creating a $4.18 billion drag on annual U.S. GDP growth.
Source: barrons.com
India Warns of Demand Hit to Economy After Iran War Boosts Costs bloomberg.com
India is facing supply shocks from the Middle East war, and the resulting hit to domestic demand is a serious concern, the Finance Ministry said in its monthly economic review.
Source: bloomberg.com
PayPal says AI shopping agents are creating an invisible storefront economy fastcompany.com
A new PayPal survey finds most merchants still lack the infrastructure to compete, as AI agents increasingly drive product discovery and purchasing.
Source: fastcompany.com
Is Iran’s oil storage nearly full – and will it have to cut production? aljazeera.com
Experts predict Iran could gradually scale back oil production if the US naval blockade of Hormuz persists.
Source: aljazeera.com