USA

What's the story The International Monetary Fund (IMF) has warned that the US economy is showing signs of weakness, but it has avoided a recession predicted by many experts six months ago. Kristalina Georgieva, IMF's Managing Director, noted that better policies, an adaptable private sector, and less severe import tariffs than expected have helped keep the US economy afloat. Global perspective Global growth slowing slightly this year and next: Georgieva Georgieva also shared her thoughts on the global economy, saying that "we see global growth slowing only slightly this year and next." She said all indicators point to a world economy that has largely withstood acute strains from multiple shocks. This statement was part of a preview for the IMF's upcoming World Economic Out...

The global push to dethrone the dollar – and how the U.S. plans to fight back Key Takeaways: U.S. Dollar at Risk: Global rivals like China, Russia, and the BRICS alliance are actively working to dethrone the dollar’s reserve currency status. Financial Leverage Threat: Foreign nations hold nearly $8 trillion in U.S. debt, creating vulnerabilities and geopolitical pressure points. A Plan for Sovereignty: A new financial framework could secure U.S. dollar dominance for a century, lower borrowing costs, and unleash a $4 trillion market shift. For more than eight decades, the U.S. dollar has reigned as king of global finance. It’s the world’s reserve currency; the backbone of international trade, binding the global economy together. But today, that dom...

Trade levies are starting to drive up costs for goods from cans of soup to car parts Official data and statements from companies are pointing to accelerating price rises for an assortment of trade-dependent products after companies sold off inventories and moved to shift the cost burden of tariffs on to consumers. Data from the Bureau of Labor Statistics showed that in the six months to August, prices for audio equipment rose by 14 per cent, dresses were up by 8 per cent and tools, hardware and supplies had risen by 5 per cent. Most of these goods are imported. “Over the past two years, goods inflation has been about zero. We are beginning to see goods inflation creep up,” said Mark Mathews, chief economist at the National Retail Federation.  President Donald Tru...

Eight months into the second Donald Trump administration, the contours of its trade and exchange rate policies are becoming clearer—or at least their objective is. In line with the administration’s wider goal of reasserting the United States’ dominant global role, especially vis-à-vis China, economic policies have now become inextricably linked with US foreign policy priorities. The administration has deployed both its military and economic leverage in the service of its policy goals to a degree not seen for a long time. With respect to China, the administration is taking steps to preserve and exploit US technological advantages, while trying to close the gap in other areas in which China has strategic advantages. The first category includes advanced chip design and artificial inte...

The dollar eased on Monday ahead of a slew of U.S. economic releases that could provide further clarity on the Federal Reserve’s rate path, while the growing risk of a U.S. government shutdown also came into sharp focus. Currency moves were largely subdued in the Asian session, though the dollar gave up some gains after ending last week stronger on the back of reduced Fed rate-cut bets. Against the yen, the dollar was down 0.4% to 148.94, after having risen more than 1% against the Japanese currency last week. The euro rose 0.28% to $1.1731, while sterling edged 0.27% higher to $1.3439. The dollar index was down 0.22% to 97.93, having risen 0.5% last week. Top of investors’ minds was a looming U.S. government shutdown should Congress fail to pass a funding bill before t...

The US economy grew faster than previously thought this spring, fuelled by robust consumer spending and falling imports, according to new government data. Gross domestic product (GDP), which measures goods and services production, rose at an annualised rate of 3.8% in the period from April through June - up from the previous estimate of 3.3%. The second quarter growth - the fastest pace in nearly two years - followed a contraction earlier this year. Economists said the US economy was doing reasonably well but some uncertainties remain. Consumer spending rose by 2.5% in the year to the end of June, up from a previous estimate of 1.6%. In the first three months of 2025, the US economy shrank at a rate of 0.6% as companies rushed in imports to get ahead of US President Don...

The output of the U.S. economy as measured by Gross Domestic Product bounced back more than previously thought in the second quarter, powered by an increase in consumer spending. That's according to a report from the Bureau of Economic Analysis, which said that GDP grew at an inflation-adjusted annual rate of 3.8% in the second quarter, compared with its previous estimate of 3.3% growth. It was the fastest growth since the third quarter of 2023, and a rebound from the 0.6% decline in GDP in the first quarter. Forecasters had expected growth to stay at 3.3% according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The increased estimate was largely due to an upward revision in consumer spending, which rose at a 2.5% annual rate over the quarter...