New single-family home sales declined slightly in July, but still exceeded economist forecasts thanks to aggressive builder incentives and price reductions. The Commerce Department reported a seasonally adjusted annual rate of 652,000 units sold, down 0.6% from June and 8.2% year-over-year. Economists surveyed by Bloomberg had anticipated a slower pace of 630,000.
The Federal Reserve on Friday officially ended its 2020-era policy that allowed inflation to run above 2 percent, a move intended to restore credibility and simplify its economic framework after years of persistent inflation. The announcement came during Chair Jerome Powell’s speech at the Kansas City Fed’s annual Jackson Hole conference.
President Donald Trump warned 17 major pharmaceutical companies on Thursday that they must lower prescription drug prices or face undisclosed punitive measures. The ultimatum follows his recent executive order aimed at bringing U.S. drug costs in line with prices in other developed nations.
U.S. import prices rose just 0.1 percent in June, signaling continued stability in global goods prices and offering no new signs of inflation from overseas markets. The latest data from the Bureau of Labor Statistics show minimal price pressure from foreign producers, reinforcing confidence in international supply chain steadiness.
Amazon CEO Andy Jassy confirmed Monday that recent tariffs on Chinese imports have not caused significant price increases on the company’s platform. Speaking on CNBC’s Mad Money, Jassy credited strategic inventory moves and competitive seller behavior for keeping prices stable, reinforcing arguments that tariffs do not necessarily fuel inflation as critics long claimed.
California’s once-booming economic engine is now flashing warning signs, according to the American Legislative Exchange Council’s latest “Rich States, Poor States” report. While the Golden State still ranks high in historical economic performance, its future outlook continues to darken under the weight of taxes, regulatory overreach, and declining private-sector employment.
A Georgia bill that ties property assessments to the rate of inflation is facing pushback from local government entities opting out of the measure. Approved by 63% of voters in November 2024, the bill aims to cap property tax increases, but some officials argue the restrictions could hinder their ability to fund essential services.
President-elect Donald Trump plans to declare a national energy emergency to enhance American energy production and reduce energy costs, according to an incoming administration official. The soon-to-be 47th president will sign a series of executive orders shortly after his inauguration to accelerate domestic energy development.
A new CBS poll reveals that most Americans are feeling hopeful about the next four years under President Donald Trump, with optimism surpassing levels seen at the start of his first term in 2017.
