Nonilex@Nonilex@masto.ai
…Americans have become choosier about how they spend, depressing airline fares, hotel fees & other services-related costs. Hiring has slowed in recent months, keeping a lid on wage gains. July’s #jobs report showed just 73k jobs added for the month, & gains registered in May & June were revised down by 258k positions. Companies have yet to lay off workers in droves, but economists worry they will be forced to cut back on #costs as #tariffs continue to eat into their margins.
#economy #Trump
Nonilex@Nonilex@masto.ai
Tuesday’s data will be important for the #FederalReserve, which is facing a challenging economic situation as #prices are rising while the #labor market is weakening. It is a difficult backdrop given the Fed’s duty to keep #inflation low & stable while ensuring that #unemployment does not rise too much. Officials at the central bank have kept #InterestRates steady since the start of the year as they have sought more clarity on how #Trump’s policies, including #tariffs, would impact the #economy.
