latest news in economy
Bitcoin Drops Below Crucial Price Threshold as Investor Focus Shifts
New York, Thursday, 28 May 2026.
Bitcoin’s drop below a critical defense line signals potential bear market conditions. Strikingly, amid this downturn, a potential Tesla-SpaceX merger could consolidate a massive $3.3 billion corporate treasury.
Global Energy Costs and Tariffs Halt US Inflation Progress, Federal Reserve Says
Tokyo, Thursday, 28 May 2026.
Federal Reserve Vice Chair Philip Jefferson warns that rising tariffs and Middle East energy shocks have stalled U.S. inflation drops, forcing the central bank to hold interest rates steady.
Federal Reserve Governor Cook Evaluates AI's Economic Disruption and Persistent Inflation Risks
Stanford, Wednesday, 27 May 2026.
Fed Governor Lisa Cook warns that AI could trigger unprecedented workforce reorganization and near-term job losses, noting she remains prepared to raise interest rates if current inflation persists.
Federal Reserve Proposes Direct Payment Accounts for Emerging Financial Institutions
Washington, Wednesday, 27 May 2026.
Proposed in May 2026, the Federal Reserve’s new limited-purpose accounts could grant fintechs direct payment settlement access, capped at $1 billion, without offering full traditional banking privileges.
April Federal Reserve Minutes Reveal Unexpected Shift Toward Potential Rate Hikes
Washington, Wednesday, 27 May 2026.
The newly released April meeting minutes reveal a surprising shift: the Federal Reserve is actively considering interest rate hikes rather than cuts to combat persistently elevated inflation.
US Mortgage Rates Retreat from Recent Peaks Amid Peace Talks
New York, Wednesday, 27 May 2026.
Average US mortgage rates are dipping this spring, largely driven by promising US-Iran peace negotiations. While borrowing costs remain elevated, this geopolitical shift offers cautious optimism for prospective homebuyers.
Americans Slash Household Spending in May 2026 as Surging Living Costs Squeeze Budgets
New York, Wednesday, 27 May 2026.
Despite booming stock markets, U.S. consumer sentiment hit a historic low in May 2026. Two-thirds of Americans are slashing everyday spending as surging living costs rapidly erode wage growth.
