Economy

"It's a very impressive list that's been put forward by Chair Warsh. ... However, the Fed already has an army of Ph.D.s that had investigated these areas, so I'm not exactly convinced that this is going to shed much light into how we understand productivity and AI."

Exports' value fell by 3.2% in May, while imports rose 3.3%, to the highest level since March 2025,

Cheaper gas helped assuage some of Americans' anxiety, but views of job opportunities deteriorated and consumers expect little improvement in the coming months.

The PCE price index rose 4.1% in May year-over-year, the most since April 2023; excluding food and energy, prices were up 3.4%.

Beijing responded to G-7 restrictions on rare-earths imports by imposing export controls on two U.S. rare-earth producers and warning that supply chains may become disconnected.

Initial claims filed last week were both 4,000 lower than the week prior and lower than economists expected.