#BreaKingNewsEconomy

From CNBC: Traders now see next Fed interest rate move as a hike following inflation surge

The recent surge in inflation is likely to get worse over the next several months, according to a survey Friday.

From CNBC: Fed Governor Miran submits resignation, throws support behind Warsh as new chair

Bessent said the energy-fed inflation surge recently is likely to reverse as the U.S. is "going to keep pumping."

The two leaders agreed to forge more cooperative ties in a high-stakes meeting full of friendly gestures between two countries that have been battling for years.

In the most divisive vote ever for a Fed chair, Warsh, 56, won confirmation to take over for Jerome Powell.

In the most divisive vote ever for a Fed chair, Warsh, 56, won confirmation to take over for Jerome Powell.

The producer price index was expected to increase 0.5% in April, according to the Dow Jones consensus.

Market pricing took virtually any chance of a cut off the table between now and the end of 2027.

The upper chamber voted to approve Warsh's nomination by a 51-45 vote, on a mostly party-line basis.

Collectively, Americans owe $1.25 trillion on their credit cards, according to a new report by the Federal Reserve Bank of New York.

The consumer price index was expected to increase by 3.7% annually in April, according to the Dow Jones consensus.

From CNBC: UK government borrowing costs surge to highest since 2008 as PM Starmer pressured to quit

Trump said Monday that U.S. arms sales to Taiwan and the imprisonment of Hong Kong media tycoon Jimmy Lai would be among the issues at the summit in Beijing.

Washington has sought to press Beijing to lean on Tehran to reopen the strait, though China's appetite to act as a pressure mechanism remains unclear.

From CNBC: From Singapore to Brussels, world leaders eye Trump-Xi summit from afar

Friday's jobs report provided evidence that the central bank's larger concern is a cost of living that is getting increasingly hard to bear.

Surging gas prices due to the Iran war sent consumer sentiment to a new low in the early part of May.

Nonfarm payrolls were expected to increase by 55,000 in April, according to the Dow Jones consensus.

From Google News - World: U.S. payrolls increased 115,000 in April, more than expected; unemployment at 4.3% - CNBC