Tag Archive for: financial planning

Treasury Secretary Bessent Takes Charge in Search for New Fed Chair Amid Reform Agenda

Treasury Secretary Scott Bessent Meets Fed Officials as Fed Chair Search Heats Up

Washington, D.C., September 11, 2025 – The Fed prepares for a change in leadership next year. Treasury Secretary Scott Bessent takes a central role in the hunt for Fed Chair Jerome Powell’s successor. This week, Bessent met with former Fed officials. He met Lawrence Lindsey, Kevin Warsh, and James Bullard. Sources close to the matter told CNBC they had seen this process move forward.

High-Profile Candidate Discussions

The meetings start a key phase in President Donald Trump’s search for a new head of the central bank. Lindsey and Warsh once served as Fed governors. Bullard led the St. Louis Fed. Each brings a long resume in money policy. A Treasury insider said Bessent will wait until the current blackout period ends. This pause comes before he talks with Fed officials who now work at the central bank. The waiting helps him follow the rules inside the Fed.

Bessent’s candidate check fits into a wider review at the Treasury. The list from President Trump has names like Warsh, Kevin Hassett from the National Economic Council, and current Fed Governor Christopher Waller. His team now studies about 11 economists. The list covers both past and present bankers and market experts. This search covers faces known to many and new planners as well.

Pushing for Federal Reserve Reform

Bessent also pushes for changes at the Fed. One step in his plan asks the Fed to cut its large bond holding. The portfolio now holds nearly $6 trillion in U.S. Treasurys and mortgage-backed securities. The goal is to shrink this balance slowly. The change must happen so the markets stay calm, and the wider economy stays steady.

Bessent wants the Fed to step back from a wider role in the economy. A source near Treasury said he asks the bank to stick to its core jobs. These jobs are keeping prices steady and making sure people can work. He warns against activities that stray from these goals. In a Wall Street Journal article last week, Bessent wrote that the Fed’s tools have grown “too complex to handle.” He noted the bank often acts outside of the narrow limits set by law. His words point to a clear need for change in how the Fed works.

Fed Under White House Scrutiny

The White House keeps a close watch on the Fed. President Trump and others have asked the Fed to cut interest rates. The Fed has not lowered rates since December 2024, even though many expect a 25-point basis drop at next week’s meeting.

The change in leadership comes soon. Jerome Powell’s term as chair ends in May 2026. Powell may keep his role as governor for up to two more years. A new chair is almost a sure bet. At the same time, the Senate votes on Stephen Miran for a spot on the Board of Governors. Other moves continue at the Fed. Trump has tried to remove Governor Lisa Cook amid claims of mortgage fraud, but courts have so far blocked the move.

Looking Ahead

Secretary Bessent now leads the check of candidates and calls for reform. In the next few months, the Fed may see big changes in who leads and how it works. The search for the Fed Chair brings together known names and fresh views. This change happens amid many shifts in both politics and finance.

For more updates on the Federal Reserve’s leadership and economic policy, stay tuned to CNBC.

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Inflation Surges to 2.9% in August Amid Rising Jobless Claims: What It Means for the Fed’s Rate Decisions

Consumer Prices Rise at Annual Rate of 2.9% in August Amid Surge in Weekly Jobless Claims

Published: September 11, 2025 | Updated: 11 minutes ago
By Jeff Cox | @JeffCoxCNBCcom

A strong rise in prices shapes the current economy. The Consumer Price Index (CPI) climbed by 0.4% in August. This jump is the highest since January 2025. The annual rate now sits at 2.9%, a rise of 0.2 points since July. This value is the highest recorded since January this year.

Inflation Details: Core CPI and Key Contributors

Experts expected the monthly rise to near 0.3%. They guessed the yearly rate would stay at 2.9%. The core CPI, which drops food and energy costs, went up by 0.3% in August. This number lifts the 12-month rate to 3.1%. Fed officials see core numbers as a better sign of long-term trends.

The CPI rise came from several sources:
• Shelter costs grew by 0.4%. Shelter makes up about one-third of the CPI weight.
• Food prices moved up by 0.5%.
• Energy costs climbed by 0.7%. Gasoline prices jumped by 1.9%, which may be linked to recent tariff changes.

Employment Data Signals Rising Uncertainty

The Labor Department showed that weekly jobless claims grew to 263,000 for the week ending September 6. This seasonally adjusted number is above the expected 235,000. It is the highest level since October 2021. The steady figure of 1.94 million for continuing claims has not been seen since late 2021. Small layoffs marked the early part of the year, but the new claims show that some employers cut back on workers.

Market Reaction and Fed Outlook

Reports of higher-than-expected inflation pushed stocks up as traders adjusted their bets on Fed moves. Market talk now shows a 100% chance of a rate cut at the Fed’s meeting ending on September 17. Many now believe the cut will be by a half-point instead of the usual quarter-point, partly because labor data showed softness.

Seema Shah, Chief Global Strategist at Principal Asset Management, said:
"While the CPI report shows higher numbers than some thought, it will not slow the Fed as they plan a rate cut next week. The rise in jobless claims may push the Fed to act faster. Chair Powell could hint that we will see a series of rate cuts soon."

After the expected drop in September, many now see more cuts coming in October and December. This view comes from a growing belief that monetary policy will ease soon.

Tariffs and Inflation: A Look at the Impact

Fed officials have watched the numbers to see if tariffs affect prices. Some effects are visible in consumer prices, yet overall inflation stays low. In August, producer prices fell by 0.1% from the previous month. Prices for new vehicles, which feel tariff pressure, went up by 0.3%. In contrast, used cars and trucks, usually not hit by tariffs, increased by 1%. The Fed focuses more on service costs. Service prices, without energy, grew by 0.3% in August. Over the past year, service costs have jumped by 3.6%. Meanwhile, shelter cost growth eased from more than 8% in early 2023 to 3.6% now.

Conclusion

The new inflation and jobless claims data form a mixed picture for the economy. The rise in consumer prices, along with more jobless claims, makes the Fed work hard to balance measures. As the Fed meets later this month, these mixed signals will help set U.S. interest rates for the rest of 2025. —

For ongoing updates and expert analysis on the economy and market impacts, stay tuned to CNBC.

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Trump’s Bold Demand for Tariffs on India and China: A Controversial Move that Strains US-EU Relations

Trump’s Push for 100% EU Tariffs on India and China Sparks Controversy

September 11, 2025 — Former U.S. President Donald Trump pressed for the EU to set a 100% tariff on goods from India and China. He made his case to hit them for buying oil from Russia. His idea aims to punish these nations for aiding Russia’s energy plans. The plan divides opinion in Europe and beyond.

The Proposal and Its Context

Trump presented his plan during a meeting in Washington. Senior U.S. and EU officials talked face-to-face. Reporters from the Financial Times first noted the meeting, and CNBC later confirmed it through reliable sources. In his speech, Trump said the U.S. would copy any tariff the EU sets. The White House has not yet commented on the idea.

A European Commission spokesperson did not share details of the meeting. She explained that talks with global partners, including India and China, continue as they work on limits for Moscow. She mentioned the EU’s 19th sanction round against Russia. This round uses new methods to stop nations from dodging the rules. She said the U.S. remains a very important friend in stopping funds for Russia’s war.

European Caution and Trade Complications

European officials now watch Trump’s call with care. They worry because:

  • The EU keeps its trade and political bonds with India and China close.
  • Trade with Russia stays sensitive.
  • The U.S. is finalizing a deal with New Delhi, making timing a sharp issue.

At the moment, the U.S. puts a 50% tariff on Indian goods. It also adds a 25% fee when India buys oil from Russia. Indian leaders call these charges "wrong, unfair, and heavy." They complain about mixed signals in U.S. and EU deals with Russia.

Ian Bremmer from Eurasia Group questions Trump’s plan. He sees a problem since the U.S. also wants better trade ties with India and China. He thinks the tariff push might pass the burden on to Europe while avoiding harm to U.S. ties with China. Bremmer warns that such a move could hurt unity across the Atlantic.

Why Europe Is Likely to Reject the Proposal

Most experts believe the EU will say “no” to Trump’s plan because:

  • Europe sees tariffs as blunt tools that can hurt more than help.
  • The EU still depends on many key imports from Russia, especially energy.
  • EU trade with Russia remains high. Data shows €67.5 billion ($78.1 billion) in trade in 2024, with energy imports making up most of this.

Bill Blain, a market analyst at Wind Shift Capital, advises Europe to decline the plan. In his newsletter Morning Porridge, he warns that Europe should opt for discussions instead of entering a trade fight.

The Russia-Energy Connection

Europe buys much of its energy from Russia. This fact makes it hard to target nations like India and China. Russian pipeline gas once made up over 40% of EU imports in 2021 but dropped to about 11.6% in 2024. Still, Russia provides roughly 19% of the EU’s gas and LNG.

The U.S. now pushes Europe to buy more LNG from America. Trump pointed to a deal where the EU promised to buy LNG, oil, and nuclear energy worth $750 billion over three years. U.S. official Doug Burgum recently said that exporting LNG to Europe can cut Russian gas use and reduce money for its war.

Conclusion

Trump’s push for a 100% tariff on India and China may pull the world into a heavy trade dispute. His idea seeks to punish nations that help Russia but risks hurting important trade ties. Leaders in Europe and around the world see the plan as too risky. They choose talks over strong trade actions.

The events show the hard choices in global trade as leaders deal with sanctions, trade rules, and new world ties during the Ukraine conflict.

For continuous updates on this and other global economic affairs, stay tuned to CNBC.

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France’s Economic Stability at Stake: Navigating Political Upheaval and Credit Rating Risks

France’s Economy Faces Key Risk Amid Political Turbulence and Credit Rating Uncertainty

September 11, 2025 — France’s economy goes through a tough period. Political change and credit rating risks make this time hard. The prime minister was recently removed, and protests spread across the nation. Economists and investors now worry about credit rating updates that could push up borrowing costs.

Political Instability and Economic Pressures

Last summer, parliamentary elections did not produce a clear winner. No party or alliance gained a majority, and two governments fell amid disputes about the national budget. This chaos raises fears for France’s budget strength. In 2024, public debt reached 5.8% of its gross domestic product (GDP)—the highest level in the eurozone.

New Prime Minister Sébastien Lecornu must now decide his next steps. He may follow the plan made by his predecessor François Bayrou to cut spending by €44 billion (about $51.5 billion) and raise taxes. The plan calls for removing two public holidays, freezing pensions and welfare benefits, and cutting funds to local governments. These moves have already led to large protests.

Upcoming Credit Rating Reviews: A Key Indicator

Credit rating agencies now check the risk of investing in a nation’s debt. Their reports affect borrowing costs. In the next few months, three agencies will share their assessments:

  • Fitch: Scheduled for September 12, 2025
  • Moody’s: October 24, 2025
  • Standard & Poor’s (S&P): November 28, 2025

These reviews will decide if France keeps its “double A” credit rating. This rating marks low risk and makes French government bonds popular with many investors, especially in Asia.

Potential Impact on Bond Markets and the Economy

Mohit Kumar, Chief Financial Economist for Europe at Jefferies, says a lower rating could hurt bond holders. He adds that losing the double A rating might force investors to sell bonds, which will raise yields—the price France pays to borrow money.

Higher yields lead to more expensive debt payments. This may force the government to tighten the budget even more, which many fear could slow the economy further.

Even with all this talk, bond yields on 2-year, 10-year, and 30-year government bonds have stayed steady for now. This steadiness shows some trust among investors or that they have already priced in these risks.

Deutsche Bank economists describe the upcoming rating changes as a “close call.” They note that a downgrade by one agency is unlikely to cause a sudden rush to sell bonds. Still, all signs point to a weak outlook because of ongoing fiscal and political challenges.

Economists’ Perspectives on Downgrade Risks and Market Stability

  • Berenberg Bank’s Chief Economist, Holger Schmieding, sees a downgrade as a possibility but not a surprise. He points out that a negative cycle—where rising yields push the deficit even higher—is unlikely because France’s current account is stable.

  • He warns that if snap parliamentary elections give power to groups like the far-right National Rally or the French Socialists, the new policies might hurt the economy. In that case, bond buyers could demand more risk or drop out completely.

  • George Lagarias, Chief Economist at Forvis Mazars, trusts the European Central Bank to act as a stabilizing force. Since the ECB is led by a former French finance minister, it can step in to support demand and lower borrowing costs if the market falls under stress. Still, he notes that the bank’s help cannot fix France’s deep fiscal issues. The government will face hard choices when it comes to budget cuts and pension reform.

Looking Ahead: Balancing Stability and Fiscal Responsibility

France’s future depends on managing political change while keeping strict control over its budget. The nation’s ability to maintain its high credit rating will shape its borrowing costs and guide its growth path.

As the credit rating reviews move forward, investors, policymakers, and citizens will watch closely, seeking a steady balance between a stable economy and needed budget changes in an unpredictable political climate.

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Brookfield’s Bruce Flatt Sees Bright Future for New York Real Estate Amid Expert Insights on Market Recovery and Rate Cuts

Brookfield CEO Bruce Flatt Bullish on Real Estate Rebound Amid Lower US Interest Rates

Brookfield Asset Management CEO Bruce Flatt shows clear confidence in a real estate rebound. He points to strong market changes and lower U.S. interest rates. Flatt signals that now is a good time to invest, especially in New York City. He explains his view at Brookfield’s annual investor meeting in New York.

Scarcity of New Construction Spurs Rent Growth

Flatt notes that few large office buildings are built in New York City. London sees the same trend. Less new construction and higher demand mean rents will rise. “In the next five years, rents are going through the roof,” Flatt said. He adds that limited supply, strong demand, changing rates, and easier financing come together to lift the market.

Anticipated US Interest Rate Cuts to Fuel Market Recovery

Flatt expects U.S. interest rates to drop by about 100 basis points in the next 12 to 18 months. This drop will ease financing challenges. “Transaction activity has come back,” Flatt noted. “Now you can finance nearly everything in real estate worldwide. Real estate depends on financing.” Even if office and retail segments face challenges, strong fundamentals keep the market steady.

US Market Poised to Catch Up to Other Regions

The recovery in Canada is ahead because of faster rate cuts. The U.S. market lags a bit. Flatt points out that when U.S. rates fall, the market will speed up. “Other markets have already turned, but in the U.S. we are waiting for lower rates. That change will drive recovery further,” he explained.

Brookfield’s Strategic Positioning in Real Estate and AI

Brookfield has stayed active in real estate while others let go. This steady approach gives the firm an edge when the market bounces back. Flatt also stresses a big move into artificial intelligence (AI). He calls AI a $7-trillion opportunity. If Brookfield follows through, AI-related businesses may become the firm’s largest segment in ten years. The firm is investing in AI infrastructure with plans worth around $200 billion, many with real estate links.

“We’re building core AI to drive productivity in businesses,” Flatt remarked. He explains that AI will change every business. Staying ahead in this tech race is key to remaining competitive.

Expanding Access to Alternative Investments

Brookfield is also opening doors for U.S. retail investors. It offers ways to invest in alternatives like private equity and real estate. This move follows U.S. government steps that let more people invest in alternative assets through employer plans.

Bruce Flatt’s confident outlook shows that key real estate markets are set to grow as financing improves. With bold investments in AI and smart real estate play, Brookfield aims to lead global investment trends in a changing market.

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Key Insights from the Latest PPI Inflation Report: What It Means for Markets and the Fed

5 Key Takeaways from the Latest U.S. Producer Price Inflation Report

The new U.S. Producer Price Index report brings surprising numbers. It shows changes that spark talks on inflation and Fed policy. Here is a detailed look at the report and its impact on the economy and markets.

Unexpected Decline in Producer Prices

In August, the PPI—measuring wholesale price shifts—fell by 0.1%. This drop marks the third time this year that prices have fallen instead of risen. Many Wall Street experts expected a 0.3% rise. The core PPI, which leaves out food and energy changes, also dropped by 0.1%. In contrast, a core measure that leaves out trade services in its count went up by 0.3%.

Market and Political Reactions

Low inflation numbers now push markets to see a rate cut soon. President Donald Trump said on Truth Social,
"No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a total disaster, who doesn’t have a clue!!!"

The market showed only slight moves.

  • Stocks: Saw small gains after the report.
  • Treasury yields: Fell by a little.

Investors now watch closely as the next major report comes.

Inflation Fundamentals Show Good Signs

Policy experts study not only the main inflation number but also the smaller details. Here, the report shows that the service sector—making up about 80% of U.S. GDP—went into a 0.2% drop. The prices of goods, which face more global and tariff effects, increased by only 0.1%. These signs point to a cooling of inflation pressures.

Eyes on Tomorrow’s Consumer Price Index

Investors and policy makers now turn to the Consumer Price Index report. It is set for release on Thursday at 8:30 a.m. ET. The CPI gives a broad look at consumer prices. Along with the PPI, it helps shape the Fed’s view on inflation. Experts expect the CPI to rise around 0.3% in August. This will be the final big inflation data point before the Fed makes a policy choice, and its timing may shape market ideas and policy plans.

Expert Perspectives on the Report

Leading economists now share what they see in the report:

  • Chris Larkin, Managing Director at E-Trade:
    “Tomorrow’s CPI will carry more weight, but today’s PPI print essentially rolled out the red carpet for a Fed rate cut next week. After last week’s jobs report, the market was already expecting the Fed to begin an easing cycle, so it remains to be seen how much of a near-term impact this will have on sentiment.”

  • David Russell, Global Head of Market Strategy at TradeStation:
    “The worst-case scenario on inflation isn’t playing out. The doves will be happy to see the year-over-year number back below 3 percent. Combined with the weak jobs data recently, this keeps us on track for rate cuts. However, the speed and intensity might depend more on the big consumer index tomorrow morning.”

  • Andrew Hollenhorst, Citigroup Economist:
    “Inflationary pressure in PPI appears to be muted overall. We see nothing in this report (or its implications for core PCE) that would dissuade Fed officials from cutting 25 basis points in September and proceeding to cut 25 basis points at each upcoming policy meeting.”

What’s Next?

The report shows a drop in wholesale inflation pressure. With the CPI report close at hand, all eyes stay on the Federal Reserve. Many now expect a cycle of rate cuts after a long period of tightening. The upcoming CPI and future Fed moves will help set the course for the U.S. economy in the months to come.

Stay tuned to CNBC for live updates and expert analysis as more inflation data unfolds and market reactions evolve.

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Inflation Surge Expected: Key Reports Could Shape Fed’s Interest Rate Decisions

Key Inflation Reports This Week Expected to Show Prices Still on the Rise

This week, inflation data comes out. The data aims to show that prices in the U.S. keep climbing. The rise in prices may not stop the Federal Reserve from easing its policy in the next meeting.

Upcoming Inflation Data: What to Expect

The Bureau of Labor Statistics sets two reports:

  • Producer Price Index (PPI) for August (Wednesday)
  • Consumer Price Index (CPI) for August (Thursday)

Economists from Dow Jones expect that both reports will show prices growing by about 0.3% each month. This rise shows up in the overall index and the core CPI, which leaves out drug and energy prices.

If these numbers stick:

  • The annual headline CPI will hit 2.9%, the highest rate since January 2025.
  • This rate goes up by 0.2 percentage points from July.
  • The core CPI stays near 3.1%.

Implications for Federal Reserve Policy

Prices rise. This shift makes it seem that the Fed might pause on cutting its benchmark interest rate next week. Two points stand out:

  1. Core Inflation Stability
    Core inflation stays steady by leaving out food and energy. This pattern hints that main price pressures stay low.

  2. Effects of Tariff-Related Goods
    The expected price rise comes mostly from goods like autos, furniture, and clothing. These items are a small share of the vast $30 trillion U.S. economy. Many Fed officials see these price hikes as one-time moves that will not keep prices high.

Policymakers now look at these numbers with care. They may choose to focus on signals in the jobs market that might call for lower interest rates to support growth.

Economic Context: Weakening Jobs Market and Tariff Effects

James Knightley, Chief International Economist at ING, said, “In aggregate, it’s still hotter than the Fed would like to see… The U.S. is predominately a service sector economy,” and stressed that one must view the market as a whole instead of focusing only on top-line numbers.

At the same time, Goldman Sachs economists note that the trend in underlying inflation might fall further. Easing costs in the housing rental market and slower rises in labor costs point in this direction. Still, this trend has downside effects. Slower home values and flat wages might cut down what people can spend, which can lead to a push for lower rates.

Knightley commented, “When you get that combination [of price concerns, incomes, and wealth], those three things coming together are pretty toxic for the growth story.” This mix makes the Fed more careful about the future.

Producer Prices as an Inflation Indicator

The Producer Price Index appears before the CPI. This report gives an early look at cost pressures. After a 0.9% jump in July, analysts expect a softer rise in August, hinting that cost pressures on companies might ease.

Markets and policymakers now watch closely. They check if inflation pressures stick and what move the Federal Reserve will choose as it deals with tariffs, shifts in the job market, and changing buying conditions.

Stay tuned to CNBC for live updates and in-depth analysis as the inflation reports are released this week.

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Massive Job Growth Revision Raises Eyebrows: 911,000 Jobs Lost in Latest Labor Report

U.S. Job Growth Revised Significantly Downward Through March 2025, Highlighting Economic Uncertainty

The U.S. labor market shows a big drop in job growth. The data now cuts nonfarm payroll jobs by 911,000 for the 12 months before March 2025. Wall Street had seen a drop between 600,000 and one million jobs, so the new number is worse than experts expected.

What the Revision Reveals

The report uses complete sets of data. It pulls records from the Quarterly Census of Employment and Wages and tax returns. This method brings job numbers close together for a better view of the market. The drop of 911,000 jobs is more than 50% larger than the change seen last year. Last year’s revision was the biggest drop since 2009. The change shows a softening in the market that had not been seen before. Although the numbers go back 18 months, recent counts raise fresh concerns. The summer months of June, July, and August 2025 had a monthly payroll gain of only 29,000 jobs. That small increase does not help keep unemployment steady.

Sector-Wise Impact

The new job counts fall across many sectors. The most affected areas show these drops:

  • Leisure and Hospitality: down by 176,000 jobs
  • Professional and Business Services: down by 158,000 jobs
  • Retail Trade: down by 126,200 jobs

Most private sectors lose jobs in the new report. In contrast, transportation with warehousing and utilities see a slight rise. Government jobs fall as well, by about 31,000 compared with earlier numbers.

Political and Economic Context

Critics now question how the BLS gathers its data. The smaller job counts have raised hints at trouble. The issue caught the White House’s eye after previous low counts and unsatisfactory job reports. In July 2025, a report that cut the job number further led President Donald Trump to choose a new BLS leader. He picked economist E.J. Antoni from the Heritage Foundation over then-commissioner Erika McEntarfer. Yet, data in August still shows weakness. For example, the June job count now shows a drop of 13,000 jobs. This is the first decrease since December 2020. While monthly numbers come from quick surveys, these annual changes use large amounts of data. They serve as a clear sign of the economy’s state.

Looking Forward

The current figures are preliminary. More changes will come when the final report is released in February 2026. For example, the 2024 report first reduced job counts by 818,000 before settling at a 598,000 drop. Out of about 171 million workers, a loss of 911,000 jobs makes up nearly 0.6% of the total. Even a small percentage can have deep political and economic impact. Weak signs in the job market back President Trump’s calls for Federal Reserve rate cuts to boost the economy in these uncertain times.

Stay updated with CNBC for more detailed analysis on the labor market and economic trends.
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Trump’s Rolex Invitation at U.S. Open Raises Eyebrows Amid Swiss Tariff Controversy

Trump Attends U.S. Open with Rolex CEO Amid Newly Imposed Swiss Tariffs

In a surprising shift at the 2025 U.S. Open, President Donald Trump stood beside Rolex CEO Jean-Frederic Dufour. A 39% tariff hit Swiss imports just weeks earlier. The tariff now burdens Switzerland, home to the famed watchmaker.

Presence at the U.S. Open Final

On Sunday, September 7, 2025, Trump watched the men’s singles final. Italy’s Jannik Sinner and Spain’s Carlos Alcaraz competed at the USTA Billie Jean King National Tennis Center in New York City. Trump sat in a midcourt box run by Rolex. Rolex sponsors the tournament.

Trump brought family and top White House staff. Treasury Secretary Scott Bessent and Press Secretary Karoline Leavitt attended with him. NBC News noted the details. The Associated Press reported that Rolex invited Trump—a move that raised many questions after the tariff was set.

Tariff on Swiss Watch Imports

Weeks before the match, the Trump team set a 39% tariff on Swiss goods. This tax now affects Swiss watchmakers like Rolex. The rate is higher than taxes on imports from other European nations. The tariff came after trade talks with the U.S., the European Union, and the United Kingdom.

Market analyst Luca Solca from Bernstein wrote in a client note. He mentioned that a last-minute tariff deal did not occur. He predicted that Swiss watchmakers might push up prices to cover the new tax. Solca also noted that early shipments may keep prices steady for a few months.

Corporate Interaction and Strategic Alliances

Trump joined the exclusive suite run by Rolex. His meeting fits a pattern of connecting with major companies. After his return to office, he met with leaders from top tech firms at the White House. This step shows his plan to build ties with business.

This event marked Trump’s first U.S. Open visit since 2015. It signals his renewed interest in high-profile sports and business events.

About Rolex and U.S. Open Tickets

Rolex began in 1905 and is based in Geneva, Switzerland. It is known worldwide for its luxury watches. U.S. Open final tickets come at a high price. General admission starts at about $800, while seats near the action cost much more.

Summary:

  • President Trump joined the 2025 U.S. Open final with the Rolex CEO weeks after a 39% Swiss import tariff was set.
  • The tax may push up prices for Swiss watchmakers like Rolex.
  • Trump was with family and senior White House officials in a Rolex-run midcourt box.
  • This is Trump’s first U.S. Open visit since 2015 and fits his plan to meet with major companies after returning to office.

This link between politics and established brands like Rolex shows a careful balance of trade rules and corporate talks.

Stay tuned for more updates on trade, luxury items, and the links between politics and business.

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Skyrocketing Job Market Anxieties: New York Fed Survey Reveals Record Low Worker Confidence in Job-Moving Opportunities

Worker Confidence in Finding a New Job Hits Record Low, New York Fed Survey Shows

The New York Federal Reserve released the Survey of Consumer Expectations on Monday. The survey shows worker confidence is low. Here, workers believe they stand only a 44.9% probability to find a new job if they lose the one they have. This drop of 5.8 percentage points from July marks the survey’s lowest level. The survey has run since June 2013. ### Lowest Job-Finding Probability Since 2013

Workers once quit with high hopes during the "Great Resignation" in 2021-22. At that time, nearly 4.5 million quits occurred each month. In July 2025, only 3.2 million quits happened. The data, provided by the Bureau of Labor Statistics, shows a decline of more than 5% from the same period in 2024. ### Labor Market Dynamics and Slowed Mobility

Elizabeth Renter, a senior economist at NerdWallet, said,
"Consumers feel low about job-finding chances. It is hard to get work now. Employers hire little, and workers stay in their current jobs for security."

During the pandemic, many workers moved between jobs. Jobs were available at a rate of two openings per worker in some sectors. Now, the market slows down:

  • Hiring has dropped a lot.
  • More workers wait than there are job slots.
  • Employers check costs before adding new staff.

As a consequence, few workers leave on their own. The Fed survey finds:

  • The chance of leaving a job in the next year is near 18.9%.
  • Expectations that the unemployment rate climbs in 12 months are at 39.1%. This value is 1.7 percentage points higher than in July and above the 12-month average.

Recent Labor Market Weakness

The Bureau of Labor Statistics shared new numbers this week. In August, only 22,000 new jobs appeared. This total falls short of the expected 75,000. June’s job growth was revised to a loss of 13,000 jobs. This marks the first drop since December 2020. The official unemployment rate climbed to 4.3%, while a broader measure, which counts discouraged and underemployed workers, rose to 8.1%. These levels last appeared in October 2021. ### Market Expectations and Fed Policy Outlook

Many analysts and market watchers see signs of a soft labor market. Some predict the Federal Reserve might cut interest rates in the meeting on September 17. This change would be the first since December 2024. The move aims to spur economic activity and help the labor market.

With the labor market facing these issues, worker sentiment and confidence stay key for a clear view of the broader economic path.

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