Jake Angelo
Coverage of Jake Angelo in the Nexus archive.
- Tariff refunds weigh on federal budget
Tariff refunds are causing a federal budget strain, with the US paying $26 billion more in refunds than collected in June due to a Supreme Court decision. The White House's tariff strategy to close the budget gap has resulted in over $80 billion in refunds to companies, which now face pressure to share the money with customers.
- US private employers added 98,000 jobs in June
US private employers added 98,000 jobs in June, below the 122,000 added in May and the 118,000 expected by economists. The education and health services sector contributed nearly half of the jobs, while financial services and information sectors saw positive growth. The Bureau of Labor Statistics will release the full June jobs report on Thursday, with the labor market's strength fueling expectations of interest-rate hikes later this year.
- Strong jobs data complicates Warsh’s path to lower rates
The US labor market added 172,000 jobs in May, leading to expectations of a Federal Reserve rate hike and complicating Kevin Warsh's path to lower rates. President Donald Trump's push for rate cuts conflicts with market expectations, potentially affecting Republican efforts to retain congressional control.