News

The company hasn’t moved to raise already high sticker prices enough to recoup tariff costs, instead opting to absorb the blow by cutting costs and repatriating some production.

Consumer spending came in much higher than expectations, but because the figures aren’t adjusted for inflation, the increase could indicate either more sales volume or higher prices.

Although tariffs’ impact on consumer prices has been modest thus far, “the day of reckoning is finally upon us, and many [U.S. businesses] are planning price adjustments this summer, likely beginning in July.”

“Many firms passed on at least a portion of cost increases to consumers through price hikes or surcharges, although some held off raising prices because of customers’ growing price sensitivity, resulting in compressed profit margins,” according to the Fed’s latest Beige Book survey.

Shortly after the Supreme Court ruled on behalf of employees in the Cornell University excessive fees case, a similar suit was filed by Stifel employees over its profit-sharing 401(k) plan.

The North Carolina–based hospital system was sued by a former employee, who alleges that WakeMed used “forfeited funds to reduce company contributions to the plan” instead of using the funds to reduce "the amounts charged to plan participants” for administrative services.