Latest news with #EconomicClub
Bloomberg
5 days ago
- Business
- Bloomberg
Fed's Kugler Backs Holding Rates If Inflation Risks Persist
Federal Reserve Governor Adriana Kugler said larger price increases related to President Donald Trump's tariffs are likely, and that she supports holding interest rates steady if upside risks to inflation linger. 'Disinflation has slowed, and we are already seeing the effects of higher tariffs, which I expect will continue to raise inflation over 2025,' Kugler said Thursday in remarks prepared for an event at the Economic Club of New York. 'I see greater upside risks to inflation at this juncture and potential downside risks to employment and output growth down the road.'
Reuters
20-05-2025
- Business
- Reuters
Fed's Musalem says rates could stay put if trade tensions are durably de-escalated
May 20 (Reuters) - Even after the U.S. and China trade detente, the labor market looks likely to weaken and prices to head higher, but as long as the public continues to expect inflation to fall to the U.S. central bank's 2% goal, a balanced monetary policy response to that challenging mix remains "feasible," St. Louis Federal Reserve President Alberto Musalem said on Tuesday. Without well-anchored inflation expectations, though, "I believe policy should prioritize price stability in the face of persistent inflationary pressures that threaten to dislodge long-term inflation expectations," he said in remarks prepared for delivery to the Economic Club of Minnesota. On the other hand, if trade talks durably de-escalate trade tensions, the labor market could stay strong and inflation remain on a path to 2%, he noted. "In this scenario, the current stance of monetary policy, which is focused on bringing inflation back to 2% in the context of a full employment labor market, will remain appropriate," he said. Musalem repeated his view that with tariffs equally likely to lead to temporary inflation as to more persistent inflation, the Fed should not commit to rate cuts to cushion the economy until there is more certainty on the actual effects.
Yahoo
20-05-2025
- Business
- Yahoo
Commanders' president says new stadium will be 'crown jewel' of Washington, D.C.
The Washington Commanders meant business in their recent search for a team president. Managing partner Josh Harris' search landed on Mark Clouse in December. While that name may be unfamiliar to football fans, Clouse is a giant in the business world and was considered a slam-dunk hire for Harris and the Commanders. Before coming to Washington, Clouse most recently served as the President and Chief Executive Officer of The Campbell's Company, overseeing iconic brands such as Campbell's, Goldfish, Rao's, Pepperidge Farm, and others. Once he began, Clouse immediately jumped into the Commanders' search for a new stadium. The Commanders have agreed to a deal with Washington, D.C., to build the new stadium at the RFK Stadium site in the District. While it seems like a formality, it's still not a done deal as the D.C. Council must approve the agreement. On Monday, we finally heard from Clouse publicly for the first time since arriving in Washington at the Economic Club luncheon. Clouse conveyed that the Commanders have big plans for the new stadium that go beyond football. 'Much more than just simply building a stadium,' Clouse said via Mark Segraves of NBC 4 in Washington, D.C. 'This is an opportunity to take 180 acres that should be the crown jewel of the District and turn it into both an economic and community engine that is going to be absolutely part of the roadmap for the future, and living into that, but in a contemporary, relevant way that feels like you are at the absolutely premiere facility in all of sports." Both sides want more than a football stadium. D.C. understands that building a new stadium would only be the start, as they could host events year-round, including concerts, other sporting events, and so much more. This would help create jobs in the District, and the new stadium would also bring shopping and housing options. For their part, the Commanders are willing to pay for over half of what the project will cost, leaving less burden for D.C. taxpayers. And yes, the new stadium will have a roof. 'There is a roof on the stadium, and I think that's gonna enable us to bring, you know, 30-to-40 world-class events,' Clouse said. 'I mean, we will be the only roofed facility of this size in the Mid-Atlantic, and so, you know, whether that's Taylor Swift or the Final Four or — any WWE wrestling fans out there? — WrestleMania could come, but we are going to be able to host everything that's in the city on a national stage. And because of that roof, it gives us a chance to actually create a pipeline of jobs and development.' This is a deal everyone involved wants. Multiple members of the D.C. Council have gone on record saying they will vote in favor of the stadium. However, other members have said they are against the new stadium. Clouse, unlike Washington's previous team presidents, appears to be able to get things done. This article originally appeared on Commanders Wire: Commanders' president says new stadium will be 'crown jewel' of D.C.
New York Post
15-05-2025
- Entertainment
- New York Post
Trump becomes grandfather again as daughter Tiffany welcomes baby boy
President Trump is Grandpa Trump once again. First daughter Tiffany Trump, 31, and her husband Michael Boulos welcomed a baby boy Thursday — Donald Trump's 11th grandchild. 3 Tiffany Trump shared this photo of her baby to Instagram on May 15, 2025. Instagram/Tiffany Trump Advertisement 3 Tiffany Trump at her baby shower in April. Instagram/tiffanytrump 'Welcome to the world our sweet baby boy, Alexander Trump Boulos. We love you beyond words! Thank you for coming into our lives!' the daughter of Trump and ex-wife Marla Maples wrote on X, along with a picture of the baby's foot. The 45th and 47th president let slip in October that his daughter was pregnant during a speech praising Tiffany's father-in-law Massad Boulos — a Lebanon-born businessman who is now a senior White House adviser. Advertisement 3 President Trump gestures after speaking at the Al Udeid Air Base, Thursday, May 15, 2025, in Doha, Qatar. AP 'He happens to be the father of Tiffany's husband, Michael, who's a very exceptional young guy,' Trump said in remarks at the Detroit Economic Club. 'And she's an exceptional young woman. And she's going to have a baby. So that's nice.'
02-05-2025
- Business
Jobs report to show hiring amid turmoil that followed 'Liberation Day' tariffs
Fresh hiring data on Friday is set to offer the first look at the performance of a key economic gauge in the aftermath of President Donald Trump's " Liberation Day" tariff announcement early last month. The jobs report, set to detail hiring in April, may offer clues about the private sector response to the tariff escalation on April 2, which triggered the biggest single-day stock market drop since the COVID-19 pandemic. Days later, Trump suspended a major swathe of the tariffs, sending the market to one of its largest ever single-day increases. A simultaneous escalation of tariffs on Chinese goods kept the effective tariff rate at its highest level in more than a century, the Yale Budget Lab found. Economists expect the U.S to have added 133,000 jobs in April. That figure would mark solid job growth, but it would amount to a sharp slowdown from 228,000 jobs added in the prior month. The jobs data arrives days after a government report showed the U.S. economy shrank over the first three months of 2025, much of which took place as Trump's flurry of tariff proposals stoked uncertainty among businesses and consumers. U.S. gross domestic product, or GDP, declined at a 0.3% annualized rate over three months ending in March, according to government data released on Wednesday. The figure marked a sharp dropoff from 2.4% annualized growth over the final three months of 2024. Despite flagging consumer sentiment and market turmoil, the labor market has provided a bright spot since Trump took office. The U.S. has added a robust average of 170,000 jobs each month this year, while the unemployment rate has remained at a historically low level. Meanwhile, inflation cooled in March, putting price increases well below a peak attained in 2022, data showed. Still, recession fears are mounting on Wall Street as Trump's tariffs threaten to upend global trade. Goldman Sachs earlier this month hiked its odds of a recession from 35% to 45%. JPMorgan pegged the probability of a recession this year at 60%. Speaking at the Economic Club of Chicago earlier this month, Fed Chair Jerome Powell acknowledged the "solid condition" of the U.S. economy, but he cautioned about signals of a potential slowdown. "Life moves pretty fast," Powell said. For its part, the Trump administration has largely refused to rule out the possibility of a recession. Trump has vowed to strike new agreements with many U.S. trade partners, predicting the U.S economy may suffer short-term pain but will ultimately flourish under a more favorable set of international rules. "We have been ripped off by every country in the world practically. And friend and foe," Trump told reporters in the Oval Office last month. "We're not doing that anymore."
