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Economics Headlines
The World Loses Petrodollar Stimulus as Iran War Drains Gulf Wealth bloomberg.com
In normal times, Gulf states sell oil and gas, spending some of the proceeds at home while investing the surplus abroad.
Source: bloomberg.com
AI won’t crush the labor market, JPMorgan exec says businessinsider.com
AI doomers say the tech could crush the job market, but a growing chorus of market pros says that it’ll reshuffle, not shrink, employment.
Source: businessinsider.com
‘Time is not in Russia’s favor’: Battlefield losses and economic pain pile pressure on Putin, European spy chief says cnn.com
Russian President Vladimir Putin is running out of time to win his war against Ukraine, amid a stalemate on the battlefield and growing troubles at home, a European intelligence chief has told CNN.
Source: cnn.com
Trump goes off-topic in speech that was supposed to be on economy bostonglobe.com
The president went off on tangents about voter identification, crime in cities, transgender women in sports and “Dumocrats,” his new chosen moniker for the opposition party
Source: bostonglobe.com
Trump visits toss-up NY district to talk economy with voters, but quickly veers off-topic nbcnewyork.com
President Donald Trump is heading to one of the most competitive congressional districts in the country to test his midterm economic message. He plans to appear in New York with GOP Rep. Mike Lawler, who is up for reelection in a closely watched House race. The event focuses on promoting the tax law Trump signed last year, which expanded the state and local tax deduction. Trump established the SALT cap in 2017 through his Tax Cuts and Jobs Act. Lawler, one of three House Republicans representing a district that backed Kamala Harris in 2024, has embraced Trump to energize GOP voters. The White House says Trump will highlight his record of making life more affordable for working families.
Source: nbcnewyork.com
Why a Maryland professor says the economy is sending a mixed message wtop.com
A professor at the University of Maryland explained why American investors may be feeling confident even as inflation and gas prices put pressure on consumers.
Source: wtop.com
Economic indicators wrap: Mortgage rate rises while Wall Street looks to continue its winning ways latimes.com
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly nine months, driving up borrowing costs for homebuyers during what’s traditionally the housing market’s busiest time of the year.
Source: latimes.com
Culture wars vie with GOP economic message at Trump rally in New York washingtonpost.com
Trump’s rally in a town on the edge of the New York metropolitan region illustrated the political appeal and the liabilities he brings for swing-district Republicans.
Source: washingtonpost.com
Obama Center expects 70K visitors annually as local businesses are eager for promised economic boost abc7chicago.com
Green card rule won’t affect immigrants providing ‘economic benefit’ businessinsider.com
A USCIS official said immigrants who provide an “economic benefit” are likely able to apply for a green card without returning to their home country.
Source: businessinsider.com
Tracking Trump: Gabbard resigns as DNI; poll finds confidence in U.S. economy has plummeted; judge dismisses Abrego case; and more washingtonpost.com
First USMCA Negotiations to Focus on Content Rules, Economic Security, Greer Says usnews.com
MANASSAS, Virginia, May 22 (Reuters) – U.S. Trade Representative Jamieson Greer said on Friday that the first round of formal negotiations to update the U.S.-Mexico-Canada trade agreement next week in Mexico City will focus on strengthening regional rules of origin and economic security …
Source: usnews.com
Warsh takes US Fed’s helm with inflation dilemma already unfolding scmp.com
Trump’s pick to lead the central bank must contend with an economy roiled by the AI boom, as well as oil price and tariff shocks.
Source: scmp.com
ICYMI: California’s economy continues to outpace the nation, new report finds gov.ca.gov
Source: gov.ca.gov
Watch live: Trump, Lawler tout economy in New York ahead of midterms thehill.com
President Trump on Friday afternoon is giving remarks alongside Rep. Mike Lawler (R-N.Y.) in one of the nation’s most competitive swing districts ahead of the November midterms. Trump will ap…
Source: thehill.com
