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#recession

31 posts18 participants0 posts today
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Public
Nonilex

After 2 days of tense negotiations, the #UnitedStates & #China appear to have walked back from the brink of a devastating economic conflict — maybe.

Officials from the 2 countries reached a handshake agreement in the early hours of Wednesday in London to remove some of the harmful measures they had used to target each other’s economies as part of a clash that rapidly intensified in recent months.

#Trump#TACO#economy
Public
Nonilex

Aaron Rupar has posted some great clips of today’s humiliating #Trump #Treasury Secy #ScottBessent’s #House Ways & Means hearing.

Here’s one:

Rep Don Beyer (D-VA): Isn't this embarrassing?

Bessent: You seem not to have seen the economic data. #GDP growth has been quite substantial

BEYER: GDP growth is half what it was last year, sir

BESSENT: #Job growth is solid

BEYER: Job growth is a third what it was last year, sir

#economy#tariffs#inflation
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Public
Nonilex

A former #BLS commissioner told Reuters that staff levels were considerably low at the agency.

"I understand that BLS staffing is down by at least 15% now, that's not reflected in any official numbers yet, because many of them are still being paid," said Erica Groshen. "They are not at work & it is impinging on the agencies. Also the #HiringFreeze means that they can't be replaced."

#economy#tariffs#inflation
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Nonilex

The #BLS like all #government agencies has been severely affected by #MassFirings, voluntary resignations, early retirements & hiring freezes, which are part of an unprecedented campaign by the #Trump admin to drastically reduce the size of govt & remake it. [if no one is able to collect the data & report it, then Trump can say whatever he wants because there won’t be evidence.]

#economy#tariffs#inflation
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Nonilex

The #CPI data will come under close scrutiny in the months ahead also for another reason. Last week the #BLS, which also compiles other economic releases including the closely watched #employment report, announced the suspension of CPI data collection in 3 cities because of resource constraints [Federal #funding & #layoffs — cuts made by #Trump].

#economy #tariffs #inflation #recession #TrumpPurge
bls.gov/cpi/notices/2025/colle

BLS Logo
Bureau of Labor StatisticsNotice of CPI collection reductionsNotice of CPI collection reductions
Public
Nonilex

#US consumer #prices rise moderately

US #consumer prices increased marginally in May amid cheaper #gasoline, but #inflation is expected to accelerate in the coming months on the back of the #Trump admin's import #tariffs.

The #ConsumerPriceIndex (#CPI) increased 0.1% last month after rising 0.2% in April, the #Labor Dept's Bureau of Labor Statistics (#BLS) said on Wed. In the 12 months through May, the CPI advanced 2.4% after gaining 2.3% in April.

#economy #recession
reuters.com/world/us/us-consum

Public
Nonya Bidniss :CIAverified:

BLUF: People aren't buying stuff because Trump is a kook and they are trying to protect themselves against him.

"Smith believes the volatility of the national economy has played a role in revenues coming in less than expected.

“Consumer spending has slowed, that really has followed consumer confidence,” she said. “That lack of consumer confidence has led to the spending trends we have here in the city of Huntsville.”

Smith said sales and use tax collections were “down significantly” the previous two months." #recession #economy #tariffs al.com/news/huntsville/2025/06

al · Huntsville braces for $10 million sales tax shortfall as spending falls ‘significantly’By Scott Turner | sturner@al.com
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