Econ Yap
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An unfiltered look into The Economy.
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UK Prime Minister Keir Starmer will appoint Varun Chandra as special envoy to the US on trade and investment.
Chandra will work with British Ambassador to Washington Christian Turner to increase UK trade and private investment after recent tariff talks.
www.bloomberg.com/ne...
Chandra will work with British Ambassador to Washington Christian Turner to increase UK trade and private investment after recent tariff talks.
www.bloomberg.com/ne...
January 23, 2026 at 2:16 PM
UK Prime Minister Keir Starmer will appoint Varun Chandra as special envoy to the US on trade and investment.
Chandra will work with British Ambassador to Washington Christian Turner to increase UK trade and private investment after recent tariff talks.
www.bloomberg.com/ne...
Chandra will work with British Ambassador to Washington Christian Turner to increase UK trade and private investment after recent tariff talks.
www.bloomberg.com/ne...
Commerce Department assisted $244 billion in foreign government contracts in 2025, nearly triple 2024, the International Trade Administration said.
The ITA said Boeing jet and GE Aerospace engine orders drove $215 billion and supported about 844,000 US jobs.
www.reuters.com/busi...
The ITA said Boeing jet and GE Aerospace engine orders drove $215 billion and supported about 844,000 US jobs.
www.reuters.com/busi...
January 23, 2026 at 1:43 PM
Commerce Department assisted $244 billion in foreign government contracts in 2025, nearly triple 2024, the International Trade Administration said.
The ITA said Boeing jet and GE Aerospace engine orders drove $215 billion and supported about 844,000 US jobs.
www.reuters.com/busi...
The ITA said Boeing jet and GE Aerospace engine orders drove $215 billion and supported about 844,000 US jobs.
www.reuters.com/busi...
A Bloomberg survey shows economists expect the Federal Reserve will not cut interest rates until June.
They expect officials will hold rates steady next week and make the final cut in September.
The survey projects core personal consumption expenditures inflation at 2.7% this year.
They expect officials will hold rates steady next week and make the final cut in September.
The survey projects core personal consumption expenditures inflation at 2.7% this year.
January 23, 2026 at 1:31 PM
A Bloomberg survey shows economists expect the Federal Reserve will not cut interest rates until June.
They expect officials will hold rates steady next week and make the final cut in September.
The survey projects core personal consumption expenditures inflation at 2.7% this year.
They expect officials will hold rates steady next week and make the final cut in September.
The survey projects core personal consumption expenditures inflation at 2.7% this year.
Bank of America is considering a credit card capped at 10% interest for one year, a person familiar with the bank told NBC News, after President Trump called for a universal cap.
Citigroup is also discussing a similar card, Bloomberg News reported.
Citigroup is also discussing a similar card, Bloomberg News reported.
Bank of America considers new credit card capped at 10% interest
President Trump recently called for a one-year 10% cap on credit card rates, prompting backlash from bankers.
www.nbcnews.com
January 23, 2026 at 1:17 PM
Bank of America is considering a credit card capped at 10% interest for one year, a person familiar with the bank told NBC News, after President Trump called for a universal cap.
Citigroup is also discussing a similar card, Bloomberg News reported.
Citigroup is also discussing a similar card, Bloomberg News reported.
President Trump said he finished interviewing candidates for Federal Reserve chair and will announce a pick soon.
www.bloomberg.com/ne...
www.bloomberg.com/ne...
January 23, 2026 at 1:45 AM
President Trump said he finished interviewing candidates for Federal Reserve chair and will announce a pick soon.
www.bloomberg.com/ne...
www.bloomberg.com/ne...
President Trump said he will not move forward with a plan allowing homebuyers to use 401(k) savings for down payments.
White House economic adviser Kevin Hassett said on January 16 the administration had planned to announce the proposal at Davos or the State of the Union.
www.bloomberg.com/ne...
White House economic adviser Kevin Hassett said on January 16 the administration had planned to announce the proposal at Davos or the State of the Union.
www.bloomberg.com/ne...
January 23, 2026 at 1:34 AM
President Trump said he will not move forward with a plan allowing homebuyers to use 401(k) savings for down payments.
White House economic adviser Kevin Hassett said on January 16 the administration had planned to announce the proposal at Davos or the State of the Union.
www.bloomberg.com/ne...
White House economic adviser Kevin Hassett said on January 16 the administration had planned to announce the proposal at Davos or the State of the Union.
www.bloomberg.com/ne...
Elon Musk said US solar tariffs raise deployment costs during an interview with Larry Fink, interim co chair of the World Economic Forum, in Davos.
Musk said the US could meet all electricity demand with solar power but trade barriers keep economics artificially high.
www.reuters.com/busi...
Musk said the US could meet all electricity demand with solar power but trade barriers keep economics artificially high.
www.reuters.com/busi...
January 23, 2026 at 1:25 AM
Elon Musk said US solar tariffs raise deployment costs during an interview with Larry Fink, interim co chair of the World Economic Forum, in Davos.
Musk said the US could meet all electricity demand with solar power but trade barriers keep economics artificially high.
www.reuters.com/busi...
Musk said the US could meet all electricity demand with solar power but trade barriers keep economics artificially high.
www.reuters.com/busi...
The US economy grew at a revised 4.4% annual rate in the third quarter, the Commerce Department Bureau of Economic Analysis said, above the prior 4.3% estimate.
Consumer spending rose 3.5% and profits from current production increased $175.6 billion.
www.reuters.com/worl...
Consumer spending rose 3.5% and profits from current production increased $175.6 billion.
www.reuters.com/worl...
January 22, 2026 at 5:51 PM
The US economy grew at a revised 4.4% annual rate in the third quarter, the Commerce Department Bureau of Economic Analysis said, above the prior 4.3% estimate.
Consumer spending rose 3.5% and profits from current production increased $175.6 billion.
www.reuters.com/worl...
Consumer spending rose 3.5% and profits from current production increased $175.6 billion.
www.reuters.com/worl...
President Trump warned of retaliation if European countries sell US assets over Greenland.
Treasury Secretary Scott Bessent said Denmark’s $100 million Treasury sale does not signal wider divestment.
www.bloomberg.com/ne...
Treasury Secretary Scott Bessent said Denmark’s $100 million Treasury sale does not signal wider divestment.
www.bloomberg.com/ne...
January 22, 2026 at 4:59 PM
President Trump warned of retaliation if European countries sell US assets over Greenland.
Treasury Secretary Scott Bessent said Denmark’s $100 million Treasury sale does not signal wider divestment.
www.bloomberg.com/ne...
Treasury Secretary Scott Bessent said Denmark’s $100 million Treasury sale does not signal wider divestment.
www.bloomberg.com/ne...
Chinese lending to Africa drops in 2024, a Boston University report shows.
Loans total $2.1 billion, down over 90% from the 2016 peak, after African defaults.
Beijing shifts to energy, mining, and transport investments, while China Daily reports record Belt and Road financing.
Loans total $2.1 billion, down over 90% from the 2016 peak, after African defaults.
Beijing shifts to energy, mining, and transport investments, while China Daily reports record Belt and Road financing.
January 22, 2026 at 4:43 PM
Chinese lending to Africa drops in 2024, a Boston University report shows.
Loans total $2.1 billion, down over 90% from the 2016 peak, after African defaults.
Beijing shifts to energy, mining, and transport investments, while China Daily reports record Belt and Road financing.
Loans total $2.1 billion, down over 90% from the 2016 peak, after African defaults.
Beijing shifts to energy, mining, and transport investments, while China Daily reports record Belt and Road financing.
ByteDance agrees to sell TikTok’s US business to a US led investor group before a January 22 deadline set by a Trump administration order.
Oracle, Silverlake and UAE state owned MGX each take 15% while ByteDance keeps under 20%.
Oracle, Silverlake and UAE state owned MGX each take 15% while ByteDance keeps under 20%.
Exclusive: China, US sign off on TikTok US spinoff
The deal caps a yearslong battle between the social media app and the two superpowers.
www.semafor.com
January 22, 2026 at 4:28 PM
ByteDance agrees to sell TikTok’s US business to a US led investor group before a January 22 deadline set by a Trump administration order.
Oracle, Silverlake and UAE state owned MGX each take 15% while ByteDance keeps under 20%.
Oracle, Silverlake and UAE state owned MGX each take 15% while ByteDance keeps under 20%.
Reposted by Econ Yap
PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Core PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Savings Rate (NOVEMBER)
3.5%
MoM: +0.2% | YoY: +2.8%
Core PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Savings Rate (NOVEMBER)
3.5%
Personal Income and Outlays, October and November 2025 | U.S. Bureau of Economic Analysis (BEA)
Personal income increased $30.6 billion (0.1 percent at a monthly rate) in October, followed by an increase of $80.0 billion (0.3 percent) in November, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $12.0 billion (0.1 percent) in October, followed by an increase of $63.7 billion (0.3 percent).
www.bea.gov
January 22, 2026 at 3:57 PM
PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Core PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Savings Rate (NOVEMBER)
3.5%
MoM: +0.2% | YoY: +2.8%
Core PCE (NOVEMBER)
MoM: +0.2% | YoY: +2.8%
Savings Rate (NOVEMBER)
3.5%
Reposted by Econ Yap
PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Core PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Savings Rate (OCTOBER)
3.7%
MoM: +0.2% | YoY: +2.7%
Core PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Savings Rate (OCTOBER)
3.7%
Personal Income and Outlays, October and November 2025 | U.S. Bureau of Economic Analysis (BEA)
Personal income increased $30.6 billion (0.1 percent at a monthly rate) in October, followed by an increase of $80.0 billion (0.3 percent) in November, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $12.0 billion (0.1 percent) in October, followed by an increase of $63.7 billion (0.3 percent).
www.bea.gov
January 22, 2026 at 3:57 PM
PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Core PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Savings Rate (OCTOBER)
3.7%
MoM: +0.2% | YoY: +2.7%
Core PCE (OCTOBER)
MoM: +0.2% | YoY: +2.7%
Savings Rate (OCTOBER)
3.7%
Energy Secretary Wright said in Davos that the world needs to more than double oil production and will rely on oil for decades.
He said EU methane reporting rules risk US energy cooperation as global oil supply reached 107.4 million barrels per day, according to the International Energy Agency.
He said EU methane reporting rules risk US energy cooperation as global oil supply reached 107.4 million barrels per day, according to the International Energy Agency.
January 22, 2026 at 4:04 PM
Energy Secretary Wright said in Davos that the world needs to more than double oil production and will rely on oil for decades.
He said EU methane reporting rules risk US energy cooperation as global oil supply reached 107.4 million barrels per day, according to the International Energy Agency.
He said EU methane reporting rules risk US energy cooperation as global oil supply reached 107.4 million barrels per day, according to the International Energy Agency.
Greenoaks Capital Partners LLC urges the US Trade Representative to open a Section 301 probe into South Korea over treatment of Coupang, Inc.
The investor says Korean regulators targeted the US listed firm after a 2024 data breach, erasing over $1.4 billion in value.
www.bloomberg.com/ne...
The investor says Korean regulators targeted the US listed firm after a 2024 data breach, erasing over $1.4 billion in value.
www.bloomberg.com/ne...
January 22, 2026 at 2:28 PM
Greenoaks Capital Partners LLC urges the US Trade Representative to open a Section 301 probe into South Korea over treatment of Coupang, Inc.
The investor says Korean regulators targeted the US listed firm after a 2024 data breach, erasing over $1.4 billion in value.
www.bloomberg.com/ne...
The investor says Korean regulators targeted the US listed firm after a 2024 data breach, erasing over $1.4 billion in value.
www.bloomberg.com/ne...
France trade minister Nicolas Forissier said President Trump must stop threatening champagne tariffs.
Trump floated a 200% levy earlier this week.
Champagne exports to the US total €750 million a year, about 20% of France’s shipments.
www.bloomberg.com/ne...
Trump floated a 200% levy earlier this week.
Champagne exports to the US total €750 million a year, about 20% of France’s shipments.
www.bloomberg.com/ne...
January 22, 2026 at 2:20 PM
France trade minister Nicolas Forissier said President Trump must stop threatening champagne tariffs.
Trump floated a 200% levy earlier this week.
Champagne exports to the US total €750 million a year, about 20% of France’s shipments.
www.bloomberg.com/ne...
Trump floated a 200% levy earlier this week.
Champagne exports to the US total €750 million a year, about 20% of France’s shipments.
www.bloomberg.com/ne...
The Department of Health and Human Services updates US dietary guidelines, prioritizing red meat and whole fat dairy.
David Ortega of Michigan State University says higher animal protein prices raise affordability risks as grocery prices rose 2.4% over the past year.
David Ortega of Michigan State University says higher animal protein prices raise affordability risks as grocery prices rose 2.4% over the past year.
MAHA's dietary guidelines prioritizing red meat and dairy is the K-shaped economy in action, economist warns: 'There's certainly affordability issues' | Fortune
“Healthy eating isn't just a choice,” food economist David Ortega said. “There are real constraints.”
fortune.com
January 22, 2026 at 2:07 PM
The Department of Health and Human Services updates US dietary guidelines, prioritizing red meat and whole fat dairy.
David Ortega of Michigan State University says higher animal protein prices raise affordability risks as grocery prices rose 2.4% over the past year.
David Ortega of Michigan State University says higher animal protein prices raise affordability risks as grocery prices rose 2.4% over the past year.
President Trump discussed a Greenland framework with NATO Secretary General Mark Rutte that respects Denmark’s sovereignty, according to sources.
The plan updates the 1951 US Denmark defense agreement, expands Arctic security, and opens talks with Denmark and Greenland.
The plan updates the 1951 US Denmark defense agreement, expands Arctic security, and opens talks with Denmark and Greenland.
Greenland proposal Trump endorsed respects Denmark's sovereignty: sources
Trump said the U.S. needed to own Greenland. Under this deal, it wouldn't.
www.axios.com
January 22, 2026 at 1:55 PM
President Trump discussed a Greenland framework with NATO Secretary General Mark Rutte that respects Denmark’s sovereignty, according to sources.
The plan updates the 1951 US Denmark defense agreement, expands Arctic security, and opens talks with Denmark and Greenland.
The plan updates the 1951 US Denmark defense agreement, expands Arctic security, and opens talks with Denmark and Greenland.
The IRS plans to drop Biden era technology overhaul efforts and outsource some paper return processing, the Washington Post reports.
Tax experts warn the changes raise data security and identity theft risks.
Tax experts warn the changes raise data security and identity theft risks.
IRS overhaul may pose identity theft risks ahead of tax season
The IRS is planning major changes intended to modernize the agency.
www.axios.com
January 22, 2026 at 1:42 PM
The IRS plans to drop Biden era technology overhaul efforts and outsource some paper return processing, the Washington Post reports.
Tax experts warn the changes raise data security and identity theft risks.
Tax experts warn the changes raise data security and identity theft risks.
Reposted by Econ Yap
Reposted by Econ Yap
INITIAL JOBLESS CLAIMS
200,000 (+1,000 FROM PREVIOUS WEEK)
CONTINUING JOBLESS CLAIMS
1,849,000 (-26,000 FROM PREVIOUS WEEK)
dol.gov/ui/data.pdf
200,000 (+1,000 FROM PREVIOUS WEEK)
CONTINUING JOBLESS CLAIMS
1,849,000 (-26,000 FROM PREVIOUS WEEK)
dol.gov/ui/data.pdf
January 22, 2026 at 1:31 PM
INITIAL JOBLESS CLAIMS
200,000 (+1,000 FROM PREVIOUS WEEK)
CONTINUING JOBLESS CLAIMS
1,849,000 (-26,000 FROM PREVIOUS WEEK)
dol.gov/ui/data.pdf
200,000 (+1,000 FROM PREVIOUS WEEK)
CONTINUING JOBLESS CLAIMS
1,849,000 (-26,000 FROM PREVIOUS WEEK)
dol.gov/ui/data.pdf
Federal Reserve data shows the top 1% owned 31.7% of US wealth in third quarter 2025, the highest share since 1989.
They held about $55 trillion, roughly equal to the bottom 90% combined, as broader wealth growth stalled.
They held about $55 trillion, roughly equal to the bottom 90% combined, as broader wealth growth stalled.
Wealth inequality in America just hit its widest gap in more than 3 decades
Nearly one-third of U.S. household wealth was held by the top 1% in the third quarter of 2025.
www.cbsnews.com
January 22, 2026 at 1:23 PM
Federal Reserve data shows the top 1% owned 31.7% of US wealth in third quarter 2025, the highest share since 1989.
They held about $55 trillion, roughly equal to the bottom 90% combined, as broader wealth growth stalled.
They held about $55 trillion, roughly equal to the bottom 90% combined, as broader wealth growth stalled.
President Trump says Fed Chair Jerome Powell may not enjoy staying on the Federal Reserve Board after his chair term ends in May.
He told CNBC in Davos that Powell could stay until 2028 as a governor.
www.bloomberg.com/ne...
He told CNBC in Davos that Powell could stay until 2028 as a governor.
www.bloomberg.com/ne...
January 22, 2026 at 12:54 PM
President Trump says Fed Chair Jerome Powell may not enjoy staying on the Federal Reserve Board after his chair term ends in May.
He told CNBC in Davos that Powell could stay until 2028 as a governor.
www.bloomberg.com/ne...
He told CNBC in Davos that Powell could stay until 2028 as a governor.
www.bloomberg.com/ne...
President Trump said he will not impose tariffs on eight European allies on February 1 after Greenland talks with NATO Secretary General Mark Rutte.
Trump said the US formed a framework for a Greenland agreement.
Trump said the US formed a framework for a Greenland agreement.
Trump backs off Greenland tariff threat based on new "solution"
Trump claimed he'd reached "the framework of a future deal" with NATO's secretary general.
www.axios.com
January 21, 2026 at 7:41 PM
President Trump said he will not impose tariffs on eight European allies on February 1 after Greenland talks with NATO Secretary General Mark Rutte.
Trump said the US formed a framework for a Greenland agreement.
Trump said the US formed a framework for a Greenland agreement.
Reposted by Econ Yap
ATLANTA FED GDPNOW ESTIMATE (Q4 2025)
+5.4%
+5.4%
GDPNow
GDPNow forecasting model provides a
www.atlantafed.org
January 21, 2026 at 6:54 PM
ATLANTA FED GDPNOW ESTIMATE (Q4 2025)
+5.4%
+5.4%