The U.S. economy showed surprising strength this spring, expanding at a 3.8% annual pace after an earlier report pegged growth much lower. Consumer spending proved far stronger than expected, while a sharp drop in imports gave GDP a boost. The rebound follows[...]
Tag: Economic Forecast
News |
Fed lowers interest rates, signals more cuts ahead; Miran dissents
The Federal Reserve has shifted course, cutting interest rates for the first time since December as concerns about a weakening job market take center stage. Chair Jerome Powell emphasized the growing risks of higher unemployment—particularly among young and minority workers—while balancing inflation[...]
News |
Inflation accelerated last month, putting the Fed in a bind and undercutting Trump
For many Americans, the numbers confirm what they already feel at the checkout line and gas pump: prices are still climbing. The latest consumer-price report shows inflation picking up in August, with shelter, food, and fuel leading the rise. Core inflation remains[...]
News |
Fargo-based RDO Equipment lays off numerous employees due to business decline
Layoffs are rippling through one of Fargo’s largest companies. RDO Equipment confirmed it has let go of 36 employees, primarily in field support roles tied to its equipment business. Company President Chris Cooper told staff the move was necessary as prolonged weakness[...]
Commentary |
What’s Happening to the Economy Is Obvious to Anyone Paying Attention
The latest jobs report delivered another jolt to the U.S. economy—just a month after the last one cost the BLS commissioner his job. August saw only 22,000 new positions, with revisions showing June actually lost jobs, the first decline since the pandemic.[...]
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News |
Canada’s Unemployment rate climbed to 7.1 per cent in August as economy lost 66,000 jobs
Canada’s job market stumbled again in August, marking the second straight month of losses and pushing unemployment to 7.1%—its highest level since 2016 outside the pandemic. Statistics Canada reported 66,000 jobs vanished, with steep declines in tech, transportation, and manufacturing offset only[...]
News |
Farm finances weakened further during the growing season| Federal Reserve Bank of Minneapolis
Fields may look healthy across the Upper Midwest, but the balance sheets tell a different story. Lenders in the Minneapolis Fed’s Ninth District say farm incomes are sliding for the second straight year, squeezed by high costs and weak grain prices. Equipment[...]
Commentary |
American opinion: Trusted data is a vital economic asset
Trustworthy economic data is the backbone of financial markets and government policy — and right now, that trust is under strain. The firing of Bureau of Labor Statistics Commissioner Erika McEntarfer and the nomination of Heritage Foundation economist EJ Antoni have raised[...]
News |
North Dakota’s rural economy shows signs of contraction
North Dakota’s rural economy is showing mixed signals. The state’s Rural Mainstreet Index dipped to 50.4 in August, pointing to a slight slowdown, even as hiring surged and farmland prices inched higher. Exports, however, told a different story: agricultural sales abroad fell[...]
News |
Why is tourism down in Vegas this summer? Some blame Trump
Las Vegas is still glittering with lights and crowds, but behind the spectacle, visitor numbers are slipping. June saw an 11% drop in tourists compared to last year, with international travelers—especially from Canada and Mexico—leading the decline. Some point to tariffs, immigration[...]
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Commentary |
Trump, the BLS, and Our Age of Choose-Your-Own-Reality Governance
When a government fires its own statistician for delivering bad news, it’s not just a personnel change—it’s a warning shot at reality itself. The Bureau of Labor Statistics is supposed to be the scoreboard, not a cheerleader. But with Donald Trump ousting[...]
Commentary |
Zero-sum Thinking and the Labor Market
The economy young people face today no longer follows the predictable path of college, career, and homeownership. Instead, it feels like a high-stakes slot machine, where algorithms, rising costs, and shifting industries dictate outcomes. This uncertainty is feeding a zero-sum mindset—where success[...]
News |
Midwest economic outlook tempered by variety of factors; ND manufacturing exports surge
Rural economies across the Midwest and Plains are showing cautious signs of growth despite ongoing challenges with low commodity prices, higher input costs, and falling exports. Creighton University’s June Rural Mainstreet survey climbed to 51.9, signaling growth for only the third time[...]
News |
Inflation heats up in June as President Trump’s tariffs start to bite
Prices are rising again, and it’s looking increasingly like tariffs are the culprit. The latest numbers show a 2.7% jump in consumer prices over the past year, with noticeable increases in rents, clothing, and household goods. With the impacts of the trade[...]
News |
Science Museum of Minnesota lays off 43 people, downsizes by $7 million
The Science Museum of Minnesota is cutting 43 full-time positions—13% of its staff—and trimming $7 million from its $38 million budget as attendance continues to lag nearly 30% below pre-pandemic levels. The restructuring eliminates entire departments, including access and equity and program[...]
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Curio |
Tallying the two channels of job losses from tariffs
Tariffs are often pitched as a way to bring factory jobs back home—but the math doesn’t hold up. New analysis suggests that current and proposed U.S. tariffs on Chinese goods could cost up to 3.4 million American jobs. Why? Because most trade[...]