Economy

The ISM’s manufacturing index indicates the industry is in a contraction.

The FOMC voted 10-to-2 to lower the target range for the federal funds rate by a quarter percentage point, to 3.75%–4%.

“Businesses have so far shielded consumers from much of the increase in costs due to tariffs by absorbing them in margins, but further pass-through seems very likely in the months ahead.”

All active data collection activities at the BLS are paused until the U.S. government shutdown ends.

Litigants claim Trump usurped the power of Congress to tax when he issued levies in February and April under an emergency law that was never intended to be used to impose duties.

In the absence of BLS statistics, private-sector measures are showing inflation in some categories of goods at its highest level in two years.