Economy

Year-to-date job cuts have exceeded 1 million for the first time since the pandemic.

“I have some concerns, and I lean more to the ‘When it’s foggy, let’s just be a little careful and slow down.’”

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.