At the same time, August saw an increase in orders and the lowest price increases for raw materials since February.

Congratulations to Bristol Myers Squibb on winning the 2025 Silver Alexander Hamilton Award in Operational Risk Management & Insurance!

He seems to believe if he “has a majority” of Fed governors, he can pressure them to make federal borrowing much cheaper. That approach would be highly likely to backfire in the long run.

But he continued to argue that policymakers must guard against the prospect that tariffs could lead to persistent inflation.