Economy News

Economy

Fed's Williams Highlights Strong Labor Market and Anchored Inflation Expectations Amid Cooling Signs

Federal Reserve Bank of New York President John Williams discusses the resilience of the US labor market and steady inflation expectations, despite signs of cooling and tariff-rela...

Economy

Fed's Kashkari Emphasizes Data-Driven Policy Amid Political Uncertainties

Federal Reserve Bank of Minneapolis President Neel Kashkari discusses the Fed's data-driven approach amid political changes, emphasizing the importance of reliable economic data ov...

Economy

Chile Suspends Operations at El Teniente, the World's Largest Underground Copper Mine, After Deadly Collapse

Chile has temporarily shut down El Teniente, the world's largest underground copper mine, after a deadly collapse caused by a magnitude 4.2 earthquake. The incident has resulted in...

Economy

European Banks Show Unwavering Strength in Latest EBA Stress Test Amid Economic Uncertainties

The European Banking Authority's latest stress test reveals the resilience of 64 European banks under severe economic conditions, with strong income generation helping to mitigate ...

Economy

Weekly Oil Rig Count Drops: US Sees Decline as Baker Hughes Reports Significant Annual Decrease

The latest Baker Hughes report shows a weekly decrease in the US oil rig count to 410, with a significant annual drop. Gas rigs, however, increased. Canada's rig count also decline...

Economy

Trump Administration Appoints William Wiatrowski as Acting Labor Commissioner Amidst Data Controversy

The Trump administration has appointed William Wiatrowski as the acting commissioner of the US Bureau of Labor Statistics following the dismissal of Erika McEntarfer. This move com...

Economy

Trump Expresses Satisfaction Over Vacant Fed Board Position Amid Kugler's Resignation

President Trump comments on the resignation of Federal Reserve Governor Adriana Kugler, linking it to disagreements with Fed Chair Jerome Powell, and criticizes the fired BLS Commi...

Economy

Federal Reserve Governor Adriana Kugler Announces Resignation, Effective August 8, 2025

Adriana Kugler resigns as Federal Reserve governor effective August 8, 2025, leaving a key vacancy during President Trump's push for lower interest rates. She returns to Georgetown...