Econ Yap
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Your unfiltered look into the economy.
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BIS names Tommaso Mancini-Griffoli of the IMF as its new Innovation Hub chief.
BIS highlights his mandate to drive central bank cooperation on digital currencies after it quit a China-linked CBDC project and warned sharply about stablecoins.
BIS highlights his mandate to drive central bank cooperation on digital currencies after it quit a China-linked CBDC project and warned sharply about stablecoins.
Central bank body BIS appoints new head of digital currency hub
The Bank for International Settlements, the umbrella body for central banks, on Tuesday named a new head of its Innovation Hub that oversees its influential work on digital currencies, artificial intelligence and other up-and-coming technologies.
www.reuters.com
November 25, 2025 at 8:27 PM
BIS names Tommaso Mancini-Griffoli of the IMF as its new Innovation Hub chief.
BIS highlights his mandate to drive central bank cooperation on digital currencies after it quit a China-linked CBDC project and warned sharply about stablecoins.
BIS highlights his mandate to drive central bank cooperation on digital currencies after it quit a China-linked CBDC project and warned sharply about stablecoins.
Manufacturing employment falls, temp help plunges, and transportation and warehousing barely grow as health care and leisure and hospitality drive over 100% of 2025 job gains.
Rick Rieder of BlackRock says firms pause hiring ahead of AI that McKinsey says could automate 57% of U.S. work hours.
Rick Rieder of BlackRock says firms pause hiring ahead of AI that McKinsey says could automate 57% of U.S. work hours.
November 25, 2025 at 8:16 PM
Manufacturing employment falls, temp help plunges, and transportation and warehousing barely grow as health care and leisure and hospitality drive over 100% of 2025 job gains.
Rick Rieder of BlackRock says firms pause hiring ahead of AI that McKinsey says could automate 57% of U.S. work hours.
Rick Rieder of BlackRock says firms pause hiring ahead of AI that McKinsey says could automate 57% of U.S. work hours.
Advisers say Kevin Hassett surges as President Trump’s frontrunner for Fed chair.
Hassett Emerges as Frontrunner in Trump Fed Chair Audition
White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks.
www.bloomberg.com
November 25, 2025 at 8:05 PM
Advisers say Kevin Hassett surges as President Trump’s frontrunner for Fed chair.
Conference Board says consumer confidence drops as Americans face high costs and weak hiring.
Chief economist Dana Peterson notes inflation fears.
Jobs plentiful rate falls to 27.6%.
Chief economist Dana Peterson notes inflation fears.
Jobs plentiful rate falls to 27.6%.
Consumer confidence slides as Americans grow wary of high costs and sluggish job gains
U.S. consumers were much less confident in the economy in November in the aftermath of the government shutdown and amid weak hiring and stubborn inflation.
apnews.com
November 25, 2025 at 7:42 PM
Conference Board says consumer confidence drops as Americans face high costs and weak hiring.
Chief economist Dana Peterson notes inflation fears.
Jobs plentiful rate falls to 27.6%.
Chief economist Dana Peterson notes inflation fears.
Jobs plentiful rate falls to 27.6%.
JPMorgan Chase Institute warns inflation cuts real income growth to 1.6% for ages 25 to 54 as consumer prices rise 3%.
Weak gains and flat balances hit budgets while a 4.4% jobless rate shadows the holiday season.
Weak gains and flat balances hit budgets while a 4.4% jobless rate shadows the holiday season.
Inflation weighing on US income growth ahead of holiday season, study says
Inflation has helped set back income growth to levels comparable to the slow recovery from the Great Recession more than a decade ago, according to an analysis of bank account data from the JPMorgan Chase Institute.
www.reuters.com
November 25, 2025 at 7:21 PM
JPMorgan Chase Institute warns inflation cuts real income growth to 1.6% for ages 25 to 54 as consumer prices rise 3%.
Weak gains and flat balances hit budgets while a 4.4% jobless rate shadows the holiday season.
Weak gains and flat balances hit budgets while a 4.4% jobless rate shadows the holiday season.
Reuters reports IEA data shows China will supply 60% of key magnet rare earths by 2030 while the US moves to meet 95% of its own demand.
The West will still rely on China for 91% of heavy rare earths.
The West will still rely on China for 91% of heavy rare earths.
US set to narrow its rare earth gap, others not so much
A multi-billion dollar pipeline of rare earth projects around the world is set to partly wean the U.S. off Chinese rare earths, but falls far short of breaking Beijing's grip over the sector for most other countries.
www.reuters.com
November 25, 2025 at 6:52 PM
Reuters reports IEA data shows China will supply 60% of key magnet rare earths by 2030 while the US moves to meet 95% of its own demand.
The West will still rely on China for 91% of heavy rare earths.
The West will still rely on China for 91% of heavy rare earths.
NAR says pending US home sales jumped 1.9% in October, beating the 0.2% forecast as buyers seized 6.3% mortgage rates.
Charlie Dougherty, senior economist at Wells Fargo, warns high ownership costs will still cap gains.
Charlie Dougherty, senior economist at Wells Fargo, warns high ownership costs will still cap gains.
Pending Sales of US Existing Homes Rise by More Than Forecast
Pending sales of previously owned US homes rose in October by more than forecast as buyers took advantage of a decline in mortgage rates.
www.bloomberg.com
November 25, 2025 at 6:28 PM
NAR says pending US home sales jumped 1.9% in October, beating the 0.2% forecast as buyers seized 6.3% mortgage rates.
Charlie Dougherty, senior economist at Wells Fargo, warns high ownership costs will still cap gains.
Charlie Dougherty, senior economist at Wells Fargo, warns high ownership costs will still cap gains.
Bloomberg Economics says President Trump touts $21 trillion in investment pledges but finds only $7 trillion in real pledges.
The White House lists $9.6 trillion.
Former Trump Economic Advisor Stephen Moore admits the claim won’t happen.
Apple and Meta top corporate pledges at $600 billion each.
The White House lists $9.6 trillion.
Former Trump Economic Advisor Stephen Moore admits the claim won’t happen.
Apple and Meta top corporate pledges at $600 billion each.
November 25, 2025 at 5:54 PM
Bloomberg Economics says President Trump touts $21 trillion in investment pledges but finds only $7 trillion in real pledges.
The White House lists $9.6 trillion.
Former Trump Economic Advisor Stephen Moore admits the claim won’t happen.
Apple and Meta top corporate pledges at $600 billion each.
The White House lists $9.6 trillion.
Former Trump Economic Advisor Stephen Moore admits the claim won’t happen.
Apple and Meta top corporate pledges at $600 billion each.
Redfin reports nearly 85,000 sellers pulled home listings in September, an eight year high.
Head of Economics Research at Redfin Chen Zhao says buyers and sellers live in different worlds.
Miami leads with 7.8% de-listings and 15% of pulled homes risk selling at a loss.
Head of Economics Research at Redfin Chen Zhao says buyers and sellers live in different worlds.
Miami leads with 7.8% de-listings and 15% of pulled homes risk selling at a loss.
November 25, 2025 at 4:38 PM
Redfin reports nearly 85,000 sellers pulled home listings in September, an eight year high.
Head of Economics Research at Redfin Chen Zhao says buyers and sellers live in different worlds.
Miami leads with 7.8% de-listings and 15% of pulled homes risk selling at a loss.
Head of Economics Research at Redfin Chen Zhao says buyers and sellers live in different worlds.
Miami leads with 7.8% de-listings and 15% of pulled homes risk selling at a loss.
Reposted by Econ Yap
Total Business Sales (August)
$1,950.9 Billion
MoM: +0.2% | YoY: +4.4%
Business Inventories (August)
$2,663.7 Billion
MoM: +0.0% | YoY: +1.1%
Inventories/Sales Ratio (August)
1.37
www.census.gov/mtis/...
$1,950.9 Billion
MoM: +0.2% | YoY: +4.4%
Business Inventories (August)
$2,663.7 Billion
MoM: +0.0% | YoY: +1.1%
Inventories/Sales Ratio (August)
1.37
www.census.gov/mtis/...
November 25, 2025 at 4:03 PM
Total Business Sales (August)
$1,950.9 Billion
MoM: +0.2% | YoY: +4.4%
Business Inventories (August)
$2,663.7 Billion
MoM: +0.0% | YoY: +1.1%
Inventories/Sales Ratio (August)
1.37
www.census.gov/mtis/...
$1,950.9 Billion
MoM: +0.2% | YoY: +4.4%
Business Inventories (August)
$2,663.7 Billion
MoM: +0.0% | YoY: +1.1%
Inventories/Sales Ratio (August)
1.37
www.census.gov/mtis/...
The U.S. government moves to set new Medicare prices for 15 top cost drugs as President Trump pushes cost cuts.
It already cut Wegovy and Ozempic to $245/month from Medicare’s $428 Ozempic net price.
Professor of Pharmacy at the University of Washington Sean Sullivan says real savings will hit.
It already cut Wegovy and Ozempic to $245/month from Medicare’s $428 Ozempic net price.
Professor of Pharmacy at the University of Washington Sean Sullivan says real savings will hit.
November 25, 2025 at 3:44 PM
The U.S. government moves to set new Medicare prices for 15 top cost drugs as President Trump pushes cost cuts.
It already cut Wegovy and Ozempic to $245/month from Medicare’s $428 Ozempic net price.
Professor of Pharmacy at the University of Washington Sean Sullivan says real savings will hit.
It already cut Wegovy and Ozempic to $245/month from Medicare’s $428 Ozempic net price.
Professor of Pharmacy at the University of Washington Sean Sullivan says real savings will hit.
Tyson Foods shuts its 3,200-job Lexington beef plant and cuts 1,700 jobs in Amarillo, reducing US beef capacity by 7 to 9 percent.
Vice President of the Lexington-area Chamber of Commerce Clay Patton calls it a gut punch.
Vice President of the Lexington-area Chamber of Commerce Clay Patton calls it a gut punch.
Tyson's beef plant closure in Nebraska will impact a reliant town and ranchers nationwide
Tyson Foods’ decision to close a beef plant in Lexington, Nebraska, could devastate the small city and undermine the profits of ranchers nationwide.
apnews.com
November 25, 2025 at 2:30 PM
Tyson Foods shuts its 3,200-job Lexington beef plant and cuts 1,700 jobs in Amarillo, reducing US beef capacity by 7 to 9 percent.
Vice President of the Lexington-area Chamber of Commerce Clay Patton calls it a gut punch.
Vice President of the Lexington-area Chamber of Commerce Clay Patton calls it a gut punch.
Treasury Secretary Scott Bessent says President Trump will likely pick a new Fed chair before Christmas as he finishes interviews to replace Jerome Powell.
Bessent says there's a 'very good chance' Trump names new Fed chair before Christmas
Bessent, who has been heading the search for a successor to current Chair Jerome Powell, said he still has one interview to go.
www.cnbc.com
November 25, 2025 at 2:09 PM
Treasury Secretary Scott Bessent says President Trump will likely pick a new Fed chair before Christmas as he finishes interviews to replace Jerome Powell.
ADP says private employers cut an average 13,500 jobs a week in the past four weeks, up from 2,500 in its prior update.
Private payroll losses accelerated in the past four weeks, ADP reports
Private companies lost an average of 13,500 jobs a week over the past four weeks, ADP said Tuesday.
www.cnbc.com
November 25, 2025 at 1:43 PM
ADP says private employers cut an average 13,500 jobs a week in the past four weeks, up from 2,500 in its prior update.
Reposted by Econ Yap
Retail Sales (September)
$733.3 Billion
MoM: +0.2% | YoY: +4.3%
Core Retail Sales (September)
$594.0 Billion
MoM: +0.3% | YoY: +4.1%
www.census.gov/retai...
$733.3 Billion
MoM: +0.2% | YoY: +4.3%
Core Retail Sales (September)
$594.0 Billion
MoM: +0.3% | YoY: +4.1%
www.census.gov/retai...
November 25, 2025 at 1:32 PM
Retail Sales (September)
$733.3 Billion
MoM: +0.2% | YoY: +4.3%
Core Retail Sales (September)
$594.0 Billion
MoM: +0.3% | YoY: +4.1%
www.census.gov/retai...
$733.3 Billion
MoM: +0.2% | YoY: +4.3%
Core Retail Sales (September)
$594.0 Billion
MoM: +0.3% | YoY: +4.1%
www.census.gov/retai...
Reposted by Econ Yap
PPI (September)
MoM: +0.3% | YoY: +2.7%
Core PPI (September)
MoM: +0.1% | YoY: +2.6%
www.bls.gov/news.rel...
MoM: +0.3% | YoY: +2.7%
Core PPI (September)
MoM: +0.1% | YoY: +2.6%
www.bls.gov/news.rel...
November 25, 2025 at 1:31 PM
PPI (September)
MoM: +0.3% | YoY: +2.7%
Core PPI (September)
MoM: +0.1% | YoY: +2.6%
www.bls.gov/news.rel...
MoM: +0.3% | YoY: +2.7%
Core PPI (September)
MoM: +0.1% | YoY: +2.6%
www.bls.gov/news.rel...
Trump advisers weigh a two year extension of enhanced ACA subsidies and consider new income caps.
Trump Advisers Discuss Options for New Healthcare Proposal
The White House is weighing income caps for Affordable Care Act enrollees to qualify for enhanced healthcare subsidies.
www.wsj.com
November 24, 2025 at 8:13 PM
Trump advisers weigh a two year extension of enhanced ACA subsidies and consider new income caps.
USDA Secretary Brooke Rollins says President Trump will roll out farmer aid within two weeks as China inks a deal to buy 12 million metric tons of US soy.
Rollins cites last week's 1.6 million metric ton surge and says Xi Jinping will keep the purchases on track.
Rollins cites last week's 1.6 million metric ton surge and says Xi Jinping will keep the purchases on track.
Deals on farmer aid, Chinese soy purchases coming within weeks, USDA chief says
The Trump administration expects to announce an aid package for U.S. farmers within two weeks and a deal on Chinese soybean purchases, U.S. Agriculture Secretary Brooke Rollins said on Monday without providing further details.
www.reuters.com
November 24, 2025 at 7:50 PM
USDA Secretary Brooke Rollins says President Trump will roll out farmer aid within two weeks as China inks a deal to buy 12 million metric tons of US soy.
Rollins cites last week's 1.6 million metric ton surge and says Xi Jinping will keep the purchases on track.
Rollins cites last week's 1.6 million metric ton surge and says Xi Jinping will keep the purchases on track.
Commerce Secretary Howard Lutnick says President Trump weighs allowing Nvidia to sell H200 AI chips to China.
CEO Jensen Huang pushes for access while Washington hawks warn the move would ease 2022 tech limits.
CEO Jensen Huang pushes for access while Washington hawks warn the move would ease 2022 tech limits.
Trump Weighing Advanced Nvidia Chip Sales to China, Lutnick Says
President Donald Trump is weighing whether to allow Nvidia Corp. to sell advanced artificial intelligence chips to China and will be the one to make a final decision on the matter, US Commerce Secretary Howard Lutnick said.
www.bloomberg.com
November 24, 2025 at 7:20 PM
Commerce Secretary Howard Lutnick says President Trump weighs allowing Nvidia to sell H200 AI chips to China.
CEO Jensen Huang pushes for access while Washington hawks warn the move would ease 2022 tech limits.
CEO Jensen Huang pushes for access while Washington hawks warn the move would ease 2022 tech limits.
Senator Rick Scott pushes cash for ACA enrollees through Trump Health Freedom Accounts while Senator Bill Cassidy backs Bronze plan subsidies with HSA cash.
The Government Accountability Office puts tax credit extension costs above 30 billion dollars.
The Government Accountability Office puts tax credit extension costs above 30 billion dollars.
Republicans push Obamacare tax credit alternatives as enrollment deadline looms
Republicans are proposing alternatives to Obamacare enhanced tax credits, with the enrollment deadline just three weeks away.
www.cnbc.com
November 24, 2025 at 7:05 PM
Senator Rick Scott pushes cash for ACA enrollees through Trump Health Freedom Accounts while Senator Bill Cassidy backs Bronze plan subsidies with HSA cash.
The Government Accountability Office puts tax credit extension costs above 30 billion dollars.
The Government Accountability Office puts tax credit extension costs above 30 billion dollars.
Oxford Economics says businesses paid 12% in October tariffs.
Spectrum Brands CEO David Maura says the worst of the tariff and economic disruptions is behind.
Ford CEO James Farley cuts his 2025 tariff hit to $1 billion.
www.wsj.com/economy/...
Spectrum Brands CEO David Maura says the worst of the tariff and economic disruptions is behind.
Ford CEO James Farley cuts his 2025 tariff hit to $1 billion.
www.wsj.com/economy/...
November 24, 2025 at 6:56 PM
Oxford Economics says businesses paid 12% in October tariffs.
Spectrum Brands CEO David Maura says the worst of the tariff and economic disruptions is behind.
Ford CEO James Farley cuts his 2025 tariff hit to $1 billion.
www.wsj.com/economy/...
Spectrum Brands CEO David Maura says the worst of the tariff and economic disruptions is behind.
Ford CEO James Farley cuts his 2025 tariff hit to $1 billion.
www.wsj.com/economy/...
AAA projects 81.8 million Thanksgiving travelers as TSA braces to screen over 17.8 million.
A TSA spokesperson warns Sunday could hit 3 million flyers.
A TSA spokesperson warns Sunday could hit 3 million flyers.
More people are traveling for Thanksgiving than ever. Here's what to know.
Air, rail and bus bookings are up — and roads will be packed.
www.axios.com
November 24, 2025 at 6:38 PM
AAA projects 81.8 million Thanksgiving travelers as TSA braces to screen over 17.8 million.
A TSA spokesperson warns Sunday could hit 3 million flyers.
A TSA spokesperson warns Sunday could hit 3 million flyers.
NABE economists boost 2026 US growth to 2% as Trump administration tariffs hit demand.
They warn sticky 2.6% inflation and only 64,000 monthly jobs will push the Fed to cut just 0.75 points.
They warn sticky 2.6% inflation and only 64,000 monthly jobs will push the Fed to cut just 0.75 points.
Economists see slightly faster US growth, sticky inflation in 2026
U.S. economic growth will increase slightly next year but employment gains will remain sluggish and the Federal Reserve will slow any further rate cuts, economists polled by the National Association for Business Economics said in the group's year-end forecast survey.
www.reuters.com
November 24, 2025 at 6:25 PM
NABE economists boost 2026 US growth to 2% as Trump administration tariffs hit demand.
They warn sticky 2.6% inflation and only 64,000 monthly jobs will push the Fed to cut just 0.75 points.
They warn sticky 2.6% inflation and only 64,000 monthly jobs will push the Fed to cut just 0.75 points.
FDIC reports US bank net income jumps 13% to $79.3 billion.
Deposit insurance fund reaches $150.1 billion and number of problem banks fall to 57.
Acting Chairman Travis Hill flags lower unrealized losses but warns they stay high.
Deposit insurance fund reaches $150.1 billion and number of problem banks fall to 57.
Acting Chairman Travis Hill flags lower unrealized losses but warns they stay high.
US Banks Show Across-the-Board Gains in FDIC’s Quarterly Update
Net income at US banks rose more than 13% in the third quarter as money in the bedrock deposit insurance fund ticked higher and the number of problem banks went down, according to the Federal Deposit Insurance Corp.
www.bloomberg.com
November 24, 2025 at 5:32 PM
FDIC reports US bank net income jumps 13% to $79.3 billion.
Deposit insurance fund reaches $150.1 billion and number of problem banks fall to 57.
Acting Chairman Travis Hill flags lower unrealized losses but warns they stay high.
Deposit insurance fund reaches $150.1 billion and number of problem banks fall to 57.
Acting Chairman Travis Hill flags lower unrealized losses but warns they stay high.
Reuters says global firms cut price hike talk as tariff fog lifts.
AlphaSense notes 68% drop in tariff linked price hike mentions.
Companies absorb costs to avoid losing consumers.
AlphaSense notes 68% drop in tariff linked price hike mentions.
Companies absorb costs to avoid losing consumers.
Companies tone down price hike talk as tariff fog clears
Fewer global companies signaled price hikes in the third quarter, pointing to a change in tack.
www.reuters.com
November 24, 2025 at 2:13 PM
Reuters says global firms cut price hike talk as tariff fog lifts.
AlphaSense notes 68% drop in tariff linked price hike mentions.
Companies absorb costs to avoid losing consumers.
AlphaSense notes 68% drop in tariff linked price hike mentions.
Companies absorb costs to avoid losing consumers.