the economy

The United States and China have reached a trade deal to lower tariffs on roughly $30 billion worth of "non-sensitive goods", following a meeting between President Trump and President Xi this week. The agreement is expected to reduce prices on a range of consumer products, including small appliances, toys and holiday items, and is drawing wide attention as a step toward easing trade tensions between the two economies.

Federal Reserve official Michael Barr said further interest rate increases are likely needed to bring inflation back to the central bank's target. The comments signal that policymakers remain cautious about declaring victory over price pressures, and markets and analysts are weighing what a longer tightening path would mean for borrowing costs and the economy.

A new NBC News poll shows President Donald Trump's approval rating falling to 41% among registered voters, a second-term low, with 55% disapproving. More voters are also criticizing his handling of the economy, a shift that matters as the closely watched midterm elections approach and both parties gauge voter sentiment heading into the campaign season.

The US Federal Reserve has raised interest rates for the first time in several years, a shift in monetary policy that affects borrowing costs across the economy. Coverage is focused on what the move means for everyday finances, including credit card bills, mortgage rates, savings returns and loan payments.

Germany has for the first time formally committed to phasing out fossil fuels, setting a target date of 2045. The pledge, reported by the Guardian, marks a significant shift in the country's climate policy, moving beyond its existing renewable energy and coal exit goals to an explicit commitment against oil and gas as well. Commenters are debating how realistic the timeline is for an industrial economy heavily reliant on imported energy.

Ten-year Treasury yields have climbed to 5.10%, their highest level since July 2007, while 30-year yields reached 5%, levels not seen in roughly two decades. The surge follows a stronger-than-expected US jobs report, which is fueling speculation that the Federal Reserve may raise interest rates again. Investors are weighing what persistent yields at multi-decade highs mean for borrowing costs, equities and the broader economy.

The US Federal Reserve has decided to keep interest rates unchanged even as inflation reaches its highest level in three years. The decision means borrowing costs will stay where they are for now, with policymakers weighing stubborn price pressures against signs of strain in the economy. Markets and economists are watching closely for signals on when, or whether, the central bank might move rates again.

Reuters commentary examines which Asian economies stand to suffer most as the US Federal Reserve continues raising interest rates. The analysis weighs factors such as current account deficits, foreign debt levels and currency vulnerability across the region. Markets and policymakers are watching closely, as Fed tightening tends to pull capital out of emerging Asian economies and weaken their currencies.

Russian oil production is forecast to fall to 494 million tonnes in 2026, down 3.4% from the previous year and the country's lowest output since 2009, according to Le Grand Continent. The projected decline is drawing attention as a signal of mounting pressure on Russia's energy sector, a cornerstone of its economy and export revenues.

Poland has more than doubled its military spending in recent years, becoming one of NATO's fastest-growing defense spenders amid the war in neighboring Ukraine. Analysts warn, however, that the rapid defense buildup carries risks for the country's economy, raising questions about long-term fiscal sustainability and the balance between security investment and other spending priorities.

Donald Trump is touting the strength of the US economy while simultaneously lashing out at news outlets he calls 'fake news', as part of an ongoing feud with the media. His remarks combine claims of economic success with accusations that coverage of his administration is unfairly negative, keeping his clashes with the press in the spotlight.

The Financial Times argues that, for once, the US Federal Reserve has prioritised ordinary American households and small businesses over financial markets. The comment reflects debate over the Fed's policy direction and who its decisions ultimately serve. It is prompting discussion among economists and investors about a possible shift in how the central bank weighs Wall Street against the broader economy.

India has told the United Nations that countries far removed from conflict zones are paying the price for wars that are not their own, highlighting how the effects of distant conflicts spill over through food and energy price shocks, disrupted trade and humanitarian strain. The intervention underscores India's long-standing argument that global institutions should better reflect the concerns of developing nations affected by wars they did not start.

The European Union is moving to restrict the energy and water consumption of data centres, a sector whose rapid growth driven by cloud computing and artificial intelligence has put mounting pressure on electricity grids and water supplies. The proposal signals tighter regulation of tech infrastructure across member states, with debate focusing on how sustainability rules will affect data centre operators and Europe's digital economy.

Australia's Treasurer Jim Chalmers and Finance Minister Katy Gallagher are set to present the final budget outcome, as speculation builds that the Reserve Bank of Australia may deliver another interest rate hike. The figures land amid ongoing political debate over Medicare funding and government spending, with financial markets and households watching closely for signals on the economy's direction and the RBA's next move.

Reserve Bank of Australia Governor Michele Bullock has said the days of low interest rates are gone, signalling that Australian borrowers should not expect a return to the ultra-cheap borrowing costs of recent years. The remarks point to the RBA preparing households and businesses for a prolonged period of higher rates as it keeps fighting inflation, a message with major implications for mortgages and the wider economy.

Japan's corporate services price inflation has climbed to its highest level in two years, according to a Reuters report. The rise in what companies pay for services signals persistent price pressure in the world's third-largest economy and will feed into debate over whether the Bank of Japan should raise interest rates further as it winds down decades of ultra-loose policy.

Hong Kong Financial Secretary Paul Chan said renewed dialogue between China and the United States will help ease concerns, but he expects competition between the two powers to continue. His remarks reflect cautious optimism among policymakers that talks can stabilise relations, even as underlying economic and strategic rivalry remains unresolved.

The US Federal Reserve has raised interest rates for the first time since 2023, according to ABC News. A rate hike would mark a reversal from the easing cycle of recent years and would affect borrowing costs for mortgages, credit cards and businesses across the American economy. Markets and households will be watching for signals on whether further increases are planned.

Markets and analysts widely expect the Reserve Bank of Australia to raise interest rates by 25 basis points at its September meeting, according to a Yahoo Finance Australia preview. Attention is focused on growing inflation risks, with the outcome seen as a key signal for Australian borrowers, mortgages and the broader economy.