Author: Jamie Carpenter

Federal Reserve’s Cautious Stance Amid Trade Uncertainty Federal Reserve Chair Jerome Powell expressed concern on Friday over the potential impacts of President Donald Trump’s new tariffs, predicting that they would likely raise inflation and slow economic growth. In a speech delivered to business journalists in Arlington, Virginia, Powell emphasized that the central bank will remain cautious, refraining from adjusting interest rates until it gains a clearer understanding of the long-term effects of the tariffs. Uncertainty Over Tariffs’ Economic Effects Powell acknowledged that while the U.S. economy appears strong at the moment, the introduction of reciprocal tariffs by the U.S. president…

Taiwan’s Strong Opposition to New U.S. Tariffs On Thursday, Taiwan’s President Lai Ching-te condemned the new U.S. tariffs on the island, describing them as unreasonable and expressing concern about their potential impact on the global economy. Taiwan faces a 32% import duty on its products, part of a broader tariff package introduced by President Donald Trump targeting dozens of trading partners. The island, which runs a significant trade surplus with the U.S., plans to engage in discussions with Washington to address these measures. Tariff Announcement and Trade Imbalance Issues President Lai posted on his Facebook page after meeting with senior…

Trump’s workforce cuts ripple through labor market U.S. employers scaled back hiring plans in February, while federal government layoffs surged to their highest level since late 2020, according to Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) report from the Bureau of Labor Statistics. Job openings fell to 7.57 million in February, down from 7.76 million in January. Despite the decline, overall labor market turnover remained steady, with little change in the rates of hires, quits, and total separations. However, layoffs rose to 1.79 million, up from 1.67 million the previous month. Federal job cuts hit four-year high The most…

Constellation Brands likely to suffer most from new trade measure The Trump administration will impose a 25% tariff on all imported canned beer and empty aluminum cans starting Friday, according to a notice issued by the U.S. Department of Commerce. The announcement precedes a broader unveiling of tariffs scheduled for 4 p.m. ET during a Rose Garden event hosted by President Donald Trump. The decision marks a significant escalation in the administration’s aluminum trade policy, with major implications for the U.S. beverage industry. Analysts say the move will especially impact Constellation Brands, which imports all its beer from Mexico. Constellation…

New tool enables multi-step web tasks with AI Amazon on Monday unveiled Nova Act, an AI model that allows software to perform complex tasks in web browsers on users’ behalf. The launch pits Amazon more directly against OpenAI, Anthropic, and Google, all of which are racing to develop advanced AI agents capable of automating digital tasks. Nova Act is designed for developers looking to build agents that can autonomously complete multi-step operations. One demo showed Nova Act searching for “apartments by biking distance to the train station,” demonstrating its capability to handle nuanced queries. Rising competition in the AI agent…

Antitrust investigation delays strategic global acquisition Chinese regulators are investigating a U.S.-led consortium’s deal to acquire two ports in the Panama Canal zone, throwing a wrench into an agreement originally slated to close next week. The probe, initiated by China’s State Administration for Market Regulation, targets a transaction spearheaded by BlackRock, the world’s largest asset manager with $11.6 trillion in assets. The deal would see the consortium purchase Hong Kong-based CK Hutchison’s controlling interest in 43 global ports, spanning 199 berths across 23 countries. The acquisition was viewed as a potential geopolitical de-escalation move amid rising U.S.-China tensions. However, Chinese…

New Target Aims to Rebuild Reserves and Reduce Inflation Argentina is aiming to secure a $20 billion agreement with the International Monetary Fund (IMF), Economy Minister Luis Caputo said on Thursday, officially revealing the size of the much-anticipated program for the first time. The deal is intended to bolster Argentina’s foreign reserves, stabilize its currency, and reduce inflation. The agreement, if finalized, would mark the country’s 23rd program with the IMF. Caputo said the goal is to reassure Argentinians that “the pesos that exist are backed by the central bank,” promoting a healthier currency with lower inflation and poverty. “The…

Inflation Eases Below Forecasts The U.K.’s inflation rate fell slightly to 2.8% in February, coming in just below analyst expectations, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated a rate of 2.9% for the year to February. After falling to 2.5% in December and jumping to 3% in January, the consumer price index (CPI) dropped again in February. Core inflation, which excludes food, energy, alcohol, and tobacco, also eased to 3.5% from 3.7%. ONS said the decline was mainly driven by clothing, housing and household services, and recreation and…

Samsung Electronics co-CEO Han Jong-Hee died from cardiac arrest on Tuesday, according to a spokesperson for the South Korean tech giant. Han was 63. Born in 1962, Han had overseen Samsung’s consumer electronics and mobile devices businesses since 2022, according to the company. He was named Samsung Electronics vice chairman and CEO in 2022. Han’s co-CEO, Jun Young-Hyun, was appointed to the position last week. The spokesperson told CNN that Jun, who has been leading the semiconductor business, would be the company’s sole CEO after Han’s death. In an internal message seen by CNN, Samsung paid tribute to Han, saying…

Deutsche Bank survey highlights mounting concern over U.S. growth The U.S. economy faces a nearly 50-50 chance of recession in the next 12 months, according to a new Deutsche Bank survey of 400 market participants. The average probability of a downturn was pegged at 43% during the March 17–20 survey window. Despite strong labor markets and modest economic growth, the survey adds to a growing wave of sentiment data showing increased anxiety among consumers and businesses. Federal Reserve Chair Jerome Powell acknowledged these concerns last week but maintained that the economy remains “strong overall.” Still, the Federal Reserve cut its…