latest news in economy

Federal Reserve Governor Lisa Cook Examines AI's Impact on Inflation and the Financial System

Federal Reserve Governor Lisa Cook Examines AI's Impact on Inflation and the Financial System

Stanford, Wednesday, 10 June 2026.
Governor Cook warns that a massive AI infrastructure boom is driving short-term inflation, signaling potential interest rate hikes to stabilize the economy despite anticipated long-term productivity gains.

Federal Reserve Flags Rapid Growth of Non-Bank Lenders in Congressional Testimony

Federal Reserve Flags Rapid Growth of Non-Bank Lenders in Congressional Testimony

Washington, Wednesday, 10 June 2026.
Despite a resilient U.S. banking system, Federal Reserve Vice Chair Bowman’s June 2026 testimony revealed unregulated non-bank entities are rapidly displacing traditional institutions in the mortgage lending market.

Solar Energy Eclipses Coal for the First Time in US History

Solar Energy Eclipses Coal for the First Time in US History

Washington, Wednesday, 10 June 2026.
Solar power made history in May 2026 by generating 12.8% of U.S. electricity, officially overtaking coal. This signals a permanent structural shift toward renewable energy in the national grid.

Federal Reserve Minutes Reveal Inflation Debates Ahead of Leadership Change

Federal Reserve Minutes Reveal Inflation Debates Ahead of Leadership Change

Washington, D.C., Wednesday, 10 June 2026.
Newly released April 2026 minutes expose the central bank’s internal struggles with sticky inflation, setting a tense stage for incoming Chair Kevin Warsh’s first policy meeting next week.

Surging Energy Costs Push US Annual Inflation to 4.2% in May 2026

Surging Energy Costs Push US Annual Inflation to 4.2% in May 2026

Washington D.C., Wednesday, 10 June 2026.
Driven by soaring energy prices, US annual inflation hit a three-year high of 4.2% in May 2026, complicating the Federal Reserve’s upcoming June interest rate decision.

IRS Raises Passport Revocation Threshold to $66,000 for 2026 Travel

IRS Raises Passport Revocation Threshold to $66,000 for 2026 Travel

Washington, Wednesday, 10 June 2026.
The IRS has increased the 2026 tax debt threshold triggering passport revocation to $66,000. Unpaid balances risk grounding international travel, and reversing State Department restrictions takes weeks.

US Inflation Expected to Hit a Three-Year High as Energy Costs Surge

US Inflation Expected to Hit a Three-Year High as Energy Costs Surge

Washington, Wednesday, 10 June 2026.
Fueled by soaring oil prices from Middle East conflicts, US inflation is expected to breach 4% today, marking a three-year high that could prompt unexpected interest rate hikes.

Understanding the Lifespan of Stock Market Rallies

Understanding the Lifespan of Stock Market Rallies

New York, Wednesday, 10 June 2026.
As the current market rally surpasses the three-year historical average, data reveals a crucial fact: missing just the ten best trading days can cut your overall returns in half.

Hidden Stock Market Signals Point to a United States Recession in 2026

Hidden Stock Market Signals Point to a United States Recession in 2026

New York, Wednesday, 10 June 2026.
Despite positive job reports in June 2026, cyclical stocks have collapsed to their lowest relative price since 1990, signaling underlying economic weakness and an impending United States recession.

Historic Western Snow Drought Plunges Ski Tourism to a Four-Decade Low

Historic Western Snow Drought Plunges Ski Tourism to a Four-Decade Low

Denver, Wednesday, 10 June 2026.
Driven by climate change, record-low Rocky Mountain snowfall sparked a 24% decline in winter tourism, marking a 40-year low that now threatens broader regional water supplies and economic stability.