'Won't go below 15% tariffs on EU': Trump discusses trade deal with EU chief Ursula von der Leyen
Show more
Show less
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
10 minutes ago
- Time of India
US job openings fell to 7.4 million last month as job market continues to cool
The American job market is showing signs of cooling as job openings decreased to 7.4 million in June, according to the Labor Department. While layoffs remained steady, fewer people are quitting their jobs. Economists anticipate a slight rise in the unemployment rate to 4.2% in July, with an expected addition of 115,000 jobs. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Washington: Employers posted 7.4 million job vacancies last month, a sign that the American job market continues to Labour Department reported Tuesday that job openings in June were down from 7.7 million in were little changed. But the number of people quitting their jobs - a sign of confidence in their prospects elsewhere - dropped last US job market has lost momentum this year, partly because of the lingering effects of 11 interest rate hikes by the inflation fighters at the Federal Reserve in 2022 and 2023 and partly because President Donald Trump 's trade wars have created uncertainty that is paralysing managers making hiring Friday, the Labour Department will put out unemployment and hiring numbers for July. They are expected to show that the unemployment rate ticked up to a still-low 4.2% in July from 4.1% in June. Businesses, government agencies and nonprofits are expected to have added 115,000 jobs in July, down from 147,000 in June, according to a survey of economists by the data firm seemingly decent June hiring numbers were weaker than they appeared. Private payrolls rose just 74,000 in June, fewest since last October when hurricanes disrupted job sites. And state and local governments added nearly 64,000 education jobs in June - a total that economists suspect was inflated by seasonal quirks around the end of the school far this year, the economy has been generating 130,000 jobs a month, down from 168,000 last year and an average 400,000 a month from 2021 through 2023 during the recovery from COVID-19 lockdowns.
Economic Times
10 minutes ago
- Economic Times
US Fed opens policy meeting, set to hold rates steady
The US Federal Reserve opened its two-day policy meeting Tuesday, with the central bank widely expected to hold off on further interest rate cuts despite fierce political pressure from President Donald Trump to slash levels. ADVERTISEMENT Fed policymakers have kept the benchmark lending rate unchanged since their last rate reduction in December, as officials wait for clarity on how Trump's tariffs are impacting the world's biggest economy. Their patient approach has riled the president, who has chastised Fed Chair Jerome Powell on multiple occasions, calling him a "numbskull" and a "moron." On Tuesday, the Fed said in a statement that its policy meeting started at 9:00 am US Eastern time (1300 GMT) as scheduled. The case for holding interest rates steady at a range between 4.25 percent and 4.50 percent this week has been made by several Fed speakers, said JP Morgan chief US economist Michael Feroli in a recent note. Inflation remains above the Fed's longer-term target of two percent, risks still persist and the labor market is near full employment, he added. ADVERTISEMENT The Fed has signalled it is waiting on the effects of Trump's sweeping tariffs on allies and competitors alike to begin to show up in economic data. As the central bank mulls changes to monetary policy, officials are seeking a balance between price stability and maximum employment. ADVERTISEMENT Analysts are expecting to see some dissent from Fed policymakers at the end of their meeting Wednesday, given that a couple of officials have signaled openness to rate cuts as soon as in July."It will be interesting to watch whether Powell alludes to some potential policy easing before year-end" or if he avoids explicit forward guidance given differences among the Fed's rate-setting committee, said EY chief economist Gregory Daco. ADVERTISEMENT "With no imminent need to act, and a fractured FOMC facing asymmetric risks, the Fed will likely wait until September to deliver the next 25 basis points rate cut," Daco added, referring to the Federal Open Market Committee. The Fed said Governor Adriana Kugler would not be attending the meeting "due to a personal matter." (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
10 minutes ago
- Mint
DOJ files misconduct complaint against federal judge James Boasberg over anti-Trump remarks, seeks recusal from key case
US Attorney General Pam Bondi on announced that the Justice Department has filed a misconduct complaint against US District Court Chief Judge James Boasberg. The DOJ alleges Boasberg made 'improper public comments' about President Donald Trump and his administration during a closed-door judicial conference. 'Today at my direction, [DOJ] filed a misconduct complaint against US District Court Chief Judge James Boasberg for making improper public comments about President Trump and his Administration,' Bondi wrote in a post on X (formerly Twitter). The complaint was submitted to Chief Judge Sri Srinivasan of the US Court of Appeals for the D.C. Circuit and was authored by Chad Mizelle, Bondi's chief of staff. According to the document, the remarks were made on March 11 at a Judicial Conference of the United States meeting attended by Chief Justice John Roberts and roughly twelve other judges. Mizelle alleges Judge Boasberg strayed from administrative topics and 'attempted to improperly influence' his colleagues by predicting that the Trump administration would 'disregard rulings of federal courts' and cause 'a constitutional crisis.' 'The Department of Justice respectfully submits this complaint alleging misconduct by US District Court Chief Judge James E. Boasberg… that have undermined the integrity and impartiality of the judiciary,' the complaint reads, as quoted by Fox News. Mizelle further stated: 'Although his comments would be inappropriate even if they had some basis, they were even worse because Judge Boasberg had no basis—the Trump Administration has always complied with all court orders.' The complaint also notes that Judge Boasberg failed to cite any examples of non-compliance, making his 'unprecedented predictions' all the more troubling. The DOJ points out that Boasberg made the remarks just days before presiding over a case involving Trump's use of the 1798 Alien Enemies Act to deport suspected Venezuelan gang members. According to the complaint, Boasberg issued a temporary restraining order on March 15 blocking deportation flights—an order that was later vacated by the Supreme Court. 'Within days of those statements, Judge Boasberg began acting on his preconceived belief that the Trump Administration would not follow court orders,' Mizelle wrote. The DOJ is asking for the complaint to be referred to a special investigative committee to determine whether Boasberg's conduct amounts to 'conduct prejudicial to the effective and expeditious administration of the business of the courts.' Additionally, the DOJ is requesting that Boasberg be removed from the ongoing case involving deportations of Venezuelan migrants to El Salvador to 'prevent further erosion of public confidence while the investigation proceeds.' Boasberg, 62, is an appointee of former President Barack Obama and currently serves as the chief judge of the US District Court for the District of Columbia. Mizelle argued that Boasberg's comments and judicial actions reflect 'bias' and violate the Code of Conduct for US Judges, which requires impartiality. 'Taken together, Judge Boasberg's words and deeds violate Canons of the Code of Conduct for United States Judges, and, erode public confidence in judicial neutrality, and warrant a formal investigation,' the complaint concludes. Judge Boasberg has not yet responded publicly to the allegations.
