latest news in economy
American Metal Tariffs Cause Price Spikes Without Creating Expected Jobs
Washington, Friday, 23 October 2026.
A Montreal Economic Institute study reveals U.S. steel prices surged 33.9% and aluminum 58% since February 2025 tariffs, driving up manufacturing costs while creating almost no domestic employment growth.
Fully Disabled Veteran Count Doubles to Two Million Driven by Legislative Expansion
Washington, Friday, 23 October 2026.
The number of veterans receiving maximum VA disability benefits doubled to two million by late 2026, largely driven by the PACT Act, raising long-term federal budget sustainability concerns.
Why Financial Leaders Are Reclaiming Human Oversight in Artificial Intelligence Hiring
New York, Friday, 23 October 2026.
New 2026 research and California legislation demand mandatory human oversight in corporate recruitment, restricting artificial intelligence to administrative support to mitigate legal risks and algorithmic bias.
Major American Companies Pay Lowest Federal Tax Rate in Four Decades
Washington, Thursday, 22 October 2026.
A study by the Institute on Taxation and Economic Policy reveals that 706 major U.S. corporations paid an average effective federal income tax rate of just 10.4% on $1.88 trillion in domestic profits in 2025. Marking the lowest level recorded in over 40 years of research, this rate is less than half the statutory 21% tax rate. Driven by expanded legislative incentives, corporate tax subsidies reached $198 billion, enabling 114 highly profitable firms to pay zero federal income tax. These findings underscore a significant shift in corporate taxation and federal revenue collection.
Why Baby Boomers Are Spending Their Children's Inheritance on Luxury Travel
New York, Thursday, 22 October 2026.
Over half of Baby Boomers plan to leave no inheritance, actively spending their wealth on travel and lifestyle—upending expectations for the anticipated $124 trillion generational wealth transfer.