Bank of England to resume rate cuts with outlook complicated by tax hikes and Trump tariffs

US Debt Faces Record as Trump and GOP Plan Tax Cuts

The Congressional Budget Office forecasts that annual deficits will top $21 trillion over the next decade.

The New York Times - Jan. 17

House Budget Republicans eye more than 200 spending cuts, tax changes for major bill

Republicans on the House Budget Committee are considering more than 200 potential budget cuts, tax breaks, tariffs and changes to programs like Medicare and Social Security in preparation for their ...

The Hill - Jan. 17

IMF warns on Trump's plans but upgrades UK outlook

Trump's policies could benefit the US, but not the rest of the world, the IMF says

BBC News - Jan. 17

Trump’s policies risk stoking inflation and preventing rate cuts, IMF warns

Taking drive for deregulation too far could push the US on to a ‘dangerous boom-bust path’, fund cautions

Financial Times - Jan. 17

What Did Trump’s Tax Cuts Do?

Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.

The New York Times - Jan. 17

Bank of England delays new capital rules ahead of Trump presidency

Officials push back implementation of new Basel regime until 2027 as they await clarity on US approach

Financial Times - Jan. 17

Senate GOP rejects House conservative pitch on corporate tax rates

House conservative proposals to raise corporate taxes to offset the cost of President-elect Trump’s tax package are going over like lead balloons in the Senate, where Republicans are warning their ...

The Hill - Jan. 17

Trump’s Treasury pick warns unwinding tax cuts would spark ‘economic calamity’

Scott Bessent also tells US senators in heated confirmation hearing that he backs tougher sanctions on Russian oil

Financial Times - Jan. 16

Trump Treasury Pick Scott Bessent Defends Plans to Cut Taxes and Raise Tariffs

Scott Bessent, President-elect Donald J. Trump’s choice to be Treasury secretary, will be in charge of steering the president’s economic agenda if confirmed by the Senate.

The New York Times - Jan. 16

Treasury yields end at lowest levels in weeks on rate-cut possibilities

Yields on U.S. government bonds ended at their lowest levels in weeks on Thursday after one key policymaker spoke about the possibility of multiple 2025 interest-rate cuts by the Federal Reserve.

MarketWatch - Jan. 16

These five Republicans are ready to derail Trump's tax cuts over the SALT cap

President-elect Donald Trump's signature tax cut bill could hinge on a House Republican fight over state and local tax deductions.

CNBC - Jan. 16

Fed Governor Waller sees potential for multiple interest rate cuts in 2025

In a CNBC interview, the policymaker said he expects the first cut could come in the first half of the year.

CNBC - Jan. 16

UK economy's disappointing November growth fuels the case for Bank of England rate cut

The U.K. economy grew at a lackluster pace of 0.1% in November, data from the Office of National Statistics showed Thursday.

CNBC - Jan. 16

Bank of Korea leaves rates unchanged in a surprise move, warns GDP growth 'highly likely' to miss forecasts

Economists polled by Reuters had estimated a 25-basis-point cut to 2.75%

CNBC - Jan. 16

Surprise fall in inflation boosts interest rate cut hopes

Inflation falls for the first time in three months, sparking expectations rates may be cut to 4.5% in February.

BBC News - Jan. 15

Inflation Rose in December, Putting Rate Cuts Into Question

The consumer price index rose 2.9 percent in the last month of the year, the Labor Department reports.

Inc. - Jan. 15

CPI edged higher in December, complicating the Fed's rate decision

Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.

CBS News - Jan. 15

Hochul Proposes Cutting Income Taxes for Middle-Class New Yorkers

Gov. Kathy Hochul used her State of the State speech to focus on affordability and crime, vowing to place a police officer on every overnight subway train.

The New York Times - Jan. 14

Trump Discusses Tax Cuts for New Yorkers With G.O.P. Lawmakers

The president-elect told Republicans from New York, New Jersey and California to come up with a plan for increasing the state and local tax deduction — a move that would benefit their constituents.

The New York Times - Jan. 12

Why Trump’s tariffs may bring worse-than-expected price hikes to consumer electronics

As CES winds down in Las Vegas, one cloud hanging over the desert not often mentioned in all the coverage of newly unveiled gadgets was a prediction by the show’s host of how much prices for ...

MarketWatch - Jan. 11

This is what it could take for the Fed to hike interest rates

Some economists are now contemplating what was previously unthinkable — and they are focused on the personal-consumption expenditures price index

MarketWatch - Jan. 11

Trump's tax-cut obstacle course

Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Senate GOP worries Trump’s tax agenda at risk Senate Republicans fear ...

The Hill - Jan. 10

Wildfires complicate California Democrats' plans to lead Trump defiance

California was getting ready to fight President-elect Donald Trump.

NBC News - Jan. 10

Jolted Australia are on the tear again – England have their work cut out

Healy’s side have reacted strongly again to World Cup pain and the tourists need to keep the series live until the Test. If you’re playing against the Australian women’s cricket team, there are ...

The Guardian - Jan. 10

DHS extends TPS for Salvadorans, potentially complicating Trump's plans

The Biden administration on Friday extended a key humanitarian program for El Salvadoran nationals in a move that could complicate the incoming Trump administration’s plans to do away with ...

The Hill - Jan. 10

The Fed Is in No Rush to Cut Rates

Fed officials have signaled that it will take more than one weak report to convince them that the labor market is deteriorating.

The New York Times - Jan. 10

Trump Chose 8 Economic Experts Who Will Defend Tariffs and Lower Taxes

President-elect Donald J. Trump has moved beyond the team-of-rivals approach from his first term and chosen economic aides who will defend tariffs and tax cuts.

The New York Times - Jan. 10

Fed Governor Bowman says December interest rate cut should be the last

Federal Reserve Governor Michelle Bowman said Thursday she supported the recent interest rate cuts but doesn’t see the need to go any further.

NBC News - Jan. 9

Fed Governor Bowman says December interest rate cut should be the last

Bowman said Thursday she supported the recent interest rate cuts but doesn't see the need to go any further.

CNBC - Jan. 9

Why two Fed officials doubt the need for many more rate cuts

One official warned that “progress on inflation could continue to stall.”

MarketWatch - Jan. 9

Tax Cuts or the Border? Republicans Wrestle Over Trump’s Priorities.

President-elect Donald J. Trump has waffled on his preferences for how his party tackles his agenda, adding to the uncertainty for Republicans.

The New York Times - Jan. 9

Fed officials saw need for ‘careful approach’ to future rate cuts

Minutes from December meeting show policymakers are concerned about US inflation risks

Financial Times - Jan. 8

Rate-Cut Decision Was Narrow, Fed Minutes Show

Stubborn inflation, and potential tariffs, make future rate cuts uncertain.

The New York Times - Jan. 8

Most Fed officials were worried about higher inflation, but not enough to put rate hikes on the table, minutes of December meeting show

“Almost all” Fed officials judged that the upside risks to inflation had increased, according to minutes of the Fed’s December meeting released Wednesday.

MarketWatch - Jan. 8

Latest in Bank of England to resume rate cuts with outlook complicated by tax hikes and Trump tariffs

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