Econ Yap
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Your unfiltered look into the economy.
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Brooke Rollins told President Trump that USDA will halt funds to California, New York, Minnesota and other blue states next week because they refuse to share SNAP data she says is needed to fight fraud.
USDA Sec. threatens funding cuts to blue states over alleged SNAP data noncompliance
The Trump administration threatened to cut off federal funding to blue states over their alleged refusal to share SNAP program data.
www.cnbc.com
December 2, 2025 at 8:18 PM
Brooke Rollins told President Trump that USDA will halt funds to California, New York, Minnesota and other blue states next week because they refuse to share SNAP data she says is needed to fight fraud.
Agriculture Secretary Brooke Rollins says the Trump administration will unveil a bridge payment next week as farmers suffer low crop prices and lost China soybean sales.
US to announce ‘bridge payment’ for farmers next week, Rollins says
Agriculture Secretary Brooke Rollins said on Tuesday that the Trump administration will announce a “bridge payment” for farmers next week that is designed to provide short-term relief while longer trade and aid packages are finalized.
www.reuters.com
December 2, 2025 at 7:43 PM
Agriculture Secretary Brooke Rollins says the Trump administration will unveil a bridge payment next week as farmers suffer low crop prices and lost China soybean sales.
Adobe Analytics reports Cyber Monday spending hit $14.25 billion as Cyber Week reached $44.2 billion.
NRF CEO Matthew Shay says 202.9 million shoppers chased discounts and drove average holiday spend up to $337.86.
www.reuters.com/busi...
NRF CEO Matthew Shay says 202.9 million shoppers chased discounts and drove average holiday spend up to $337.86.
www.reuters.com/busi...
December 2, 2025 at 7:28 PM
Adobe Analytics reports Cyber Monday spending hit $14.25 billion as Cyber Week reached $44.2 billion.
NRF CEO Matthew Shay says 202.9 million shoppers chased discounts and drove average holiday spend up to $337.86.
www.reuters.com/busi...
NRF CEO Matthew Shay says 202.9 million shoppers chased discounts and drove average holiday spend up to $337.86.
www.reuters.com/busi...
Dominic Pino warns that Japan’s aging population and 250% debt-to-GDP show the danger of trading growth for a jury rigged public portfolio.
He argues the US must reform entitlements now because its net liabilities already exceed Japan’s.
www.washingtonpost.c...
He argues the US must reform entitlements now because its net liabilities already exceed Japan’s.
www.washingtonpost.c...
December 2, 2025 at 6:10 PM
Dominic Pino warns that Japan’s aging population and 250% debt-to-GDP show the danger of trading growth for a jury rigged public portfolio.
He argues the US must reform entitlements now because its net liabilities already exceed Japan’s.
www.washingtonpost.c...
He argues the US must reform entitlements now because its net liabilities already exceed Japan’s.
www.washingtonpost.c...
Michael Dell said Tuesday he will give $6.25 billion to fund 25 million Trump accounts for kids.
His video on X said his gift adds a $250 seed for most children 10 and under born before eligibility.
Treasury is giving $1,000 to kids born 2025 to 2028.
His video on X said his gift adds a $250 seed for most children 10 and under born before eligibility.
Treasury is giving $1,000 to kids born 2025 to 2028.
Michael Dell to fund 25 million "Trump accounts" with $6.25 billion gift
The gift will extend the reach of the accounts beyond newborns eligible for government seed money.
www.axios.com
December 2, 2025 at 5:35 PM
Michael Dell said Tuesday he will give $6.25 billion to fund 25 million Trump accounts for kids.
His video on X said his gift adds a $250 seed for most children 10 and under born before eligibility.
Treasury is giving $1,000 to kids born 2025 to 2028.
His video on X said his gift adds a $250 seed for most children 10 and under born before eligibility.
Treasury is giving $1,000 to kids born 2025 to 2028.
Helene Budliger Artieda, head of SECO, says Switzerland must get used to U.S. tariffs.
She cites a 7% trade weighted burden, $6 billion in yearly savings, and expects the change from lowered tariffs by early December.
She cites a 7% trade weighted burden, $6 billion in yearly savings, and expects the change from lowered tariffs by early December.
Swiss may need to get used to U.S. tariffs, official says
Switzerland may need to get used to U.S. tariffs, a top Swiss trade negotiator was quoted as saying on Tuesday after the country reached a tariff deal to get parity with the European Union.
www.reuters.com
December 2, 2025 at 4:45 PM
Helene Budliger Artieda, head of SECO, says Switzerland must get used to U.S. tariffs.
She cites a 7% trade weighted burden, $6 billion in yearly savings, and expects the change from lowered tariffs by early December.
She cites a 7% trade weighted burden, $6 billion in yearly savings, and expects the change from lowered tariffs by early December.
AAA says US gas hits $2.99 a gallon, the first dip under $3 since May 2021.
US gas prices drop below $3 a gallon for first time since May 2021 | CNN Business
Gas prices dropped below an average of $3 a gallon in the United States on Tuesday for the first time in four-and-a-half years.
www.cnn.com
December 2, 2025 at 3:59 PM
AAA says US gas hits $2.99 a gallon, the first dip under $3 since May 2021.
China speeds rare earth shipments as it issues new year long general export licenses.
JL Mag Rare Earth, Ningbo Yunsheng and Beijing Zhong Ke San Huan secure approvals for key auto clients.
JL Mag Rare Earth, Ningbo Yunsheng and Beijing Zhong Ke San Huan secure approvals for key auto clients.
Exclusive: China issues first batch of streamlined rare earth export licences, source says
China has issued the first batch of new rare earth export licences that should accelerate shipments to certain customers, a source said on Tuesday, fulfilling a key outcome of the summit between Presidents Donald Trump and Xi Jinping.
www.reuters.com
December 2, 2025 at 2:22 PM
China speeds rare earth shipments as it issues new year long general export licenses.
JL Mag Rare Earth, Ningbo Yunsheng and Beijing Zhong Ke San Huan secure approvals for key auto clients.
JL Mag Rare Earth, Ningbo Yunsheng and Beijing Zhong Ke San Huan secure approvals for key auto clients.
OECD flags a US economic slowdown as the 14% tariff rate bites.
It projects US growth at 2% this year and 1.7% next year.
OECD Secretary General Mathias Cormann warns new trade barriers could damage global output.
www.wsj.com/economy/...
It projects US growth at 2% this year and 1.7% next year.
OECD Secretary General Mathias Cormann warns new trade barriers could damage global output.
www.wsj.com/economy/...
December 2, 2025 at 1:58 PM
OECD flags a US economic slowdown as the 14% tariff rate bites.
It projects US growth at 2% this year and 1.7% next year.
OECD Secretary General Mathias Cormann warns new trade barriers could damage global output.
www.wsj.com/economy/...
It projects US growth at 2% this year and 1.7% next year.
OECD Secretary General Mathias Cormann warns new trade barriers could damage global output.
www.wsj.com/economy/...
Costco hits the Trump administration with a Nov 28 trade court lawsuit to secure refunds if the Supreme Court strikes President Trump’s tariffs.
White House spokesperson Kush Desai warns that losing the case risks enormous economic consequences.
White House spokesperson Kush Desai warns that losing the case risks enormous economic consequences.
Costco Joins Companies Suing for Refunds If Trump’s Tariffs Fall
Costco Wholesale Corp. joined a fast-growing list of businesses suing the Trump administration to ensure eligibility for refunds if the US Supreme Court strikes down the president’s signature global tariffs policy.
www.bloomberg.com
December 2, 2025 at 12:20 PM
Costco hits the Trump administration with a Nov 28 trade court lawsuit to secure refunds if the Supreme Court strikes President Trump’s tariffs.
White House spokesperson Kush Desai warns that losing the case risks enormous economic consequences.
White House spokesperson Kush Desai warns that losing the case risks enormous economic consequences.
Elon Musk told Nikhil Kamath that outsourcing firms gamed H1B visas but urged the U.S. to stop abuse, not kill the system.
H-1B: Elon Musk defends visas but says outsourcing firms 'game' the system
Musk, speaking to entrepreneur Nikhil Kamath on his podcast, also touched on tariffs and immigration.
bbc.com
December 2, 2025 at 1:32 AM
Elon Musk told Nikhil Kamath that outsourcing firms gamed H1B visas but urged the U.S. to stop abuse, not kill the system.
South African President Cyril Ramaphosa rebuffs President Trump’s threat to bar South Africa from the 2026 G20 summit.
He calls Trump’s Afrikaner genocide claim blatant misinformation.
Pretoria says it handed the G20 presidency to a U.S. embassy official.
He calls Trump’s Afrikaner genocide claim blatant misinformation.
Pretoria says it handed the G20 presidency to a U.S. embassy official.
Ramaphosa dismisses Trump’s threat to bar South Africa from 2026 G20 summit
South African President Cyril Ramaphosa dismissed on Sunday U.S. President Donald Trump's threat to exclude Pretoria from next year's G20 summit, reaffirming South Africa's status as a founding member of the group.
www.reuters.com
December 2, 2025 at 1:16 AM
South African President Cyril Ramaphosa rebuffs President Trump’s threat to bar South Africa from the 2026 G20 summit.
He calls Trump’s Afrikaner genocide claim blatant misinformation.
Pretoria says it handed the G20 presidency to a U.S. embassy official.
He calls Trump’s Afrikaner genocide claim blatant misinformation.
Pretoria says it handed the G20 presidency to a U.S. embassy official.
Deloitte says Gen Z plans to slash holiday spending 34%.
PwC’s Ali Furman warns their buying power is set to hit $2 trillion.
Young shoppers face rent, loans and rising prices and they pull back while other consumers keep spending.
PwC’s Ali Furman warns their buying power is set to hit $2 trillion.
Young shoppers face rent, loans and rising prices and they pull back while other consumers keep spending.
Gen Z Shoppers Aren’t Spending Like Retailers Need Them To
More than other generations, 20-somethings are tightening their holiday-season budgets because of economic pressures.
www.wsj.com
December 1, 2025 at 8:15 PM
Deloitte says Gen Z plans to slash holiday spending 34%.
PwC’s Ali Furman warns their buying power is set to hit $2 trillion.
Young shoppers face rent, loans and rising prices and they pull back while other consumers keep spending.
PwC’s Ali Furman warns their buying power is set to hit $2 trillion.
Young shoppers face rent, loans and rising prices and they pull back while other consumers keep spending.
Trump administration exempts UK drug imports from tariffs through President Trump’s term.
Britain’s NHS agrees to pay 25% more for new medicines.
CMS deputy administrator Chris Klomp says shared costs strengthen the global fight against disease.
Britain’s NHS agrees to pay 25% more for new medicines.
CMS deputy administrator Chris Klomp says shared costs strengthen the global fight against disease.
U.S. and Britain strike drug tariff deal
The Trump administration will exempt UK drug imports from tariffs for the rest of President Trump's term.
www.axios.com
December 1, 2025 at 8:03 PM
Trump administration exempts UK drug imports from tariffs through President Trump’s term.
Britain’s NHS agrees to pay 25% more for new medicines.
CMS deputy administrator Chris Klomp says shared costs strengthen the global fight against disease.
Britain’s NHS agrees to pay 25% more for new medicines.
CMS deputy administrator Chris Klomp says shared costs strengthen the global fight against disease.
ISM reports a ninth month of contraction.
Chief Economist at Santander U.S. Capital Markets Stephen Stanley says tariffs keep choking factories.
ISM Chair Susan Spence warns companies still cut head counts.
Chief Economist at Santander U.S. Capital Markets Stephen Stanley says tariffs keep choking factories.
ISM Chair Susan Spence warns companies still cut head counts.
US manufacturing stuck in doldrums as tariff headwinds persist
U.S. manufacturing contracted for the ninth straight month in November, with factories facing slumping orders and higher prices for inputs as the drag from import tariffs persisted.
www.reuters.com
December 1, 2025 at 7:42 PM
ISM reports a ninth month of contraction.
Chief Economist at Santander U.S. Capital Markets Stephen Stanley says tariffs keep choking factories.
ISM Chair Susan Spence warns companies still cut head counts.
Chief Economist at Santander U.S. Capital Markets Stephen Stanley says tariffs keep choking factories.
ISM Chair Susan Spence warns companies still cut head counts.
Adobe Analytics forecasts Americans will spend $14.2 billion on Cyber Monday after a record $11.8 billion Black Friday.
Caila Schwartz of Salesforce says AI accelerates purchases as AI-driven retail traffic jumps 670%.
Caila Schwartz of Salesforce says AI accelerates purchases as AI-driven retail traffic jumps 670%.
US Cyber Monday spending forecast to hit $14.2 billion, fueled by wealthy
U.S. consumers are expected to spend $14.2 billion on Cyber Monday, according to Adobe Analytics, after a strong Black Friday weekend that saw wealthier consumers spend freely and lower-income shoppers hunt for deals.
www.reuters.com
December 1, 2025 at 7:28 PM
Adobe Analytics forecasts Americans will spend $14.2 billion on Cyber Monday after a record $11.8 billion Black Friday.
Caila Schwartz of Salesforce says AI accelerates purchases as AI-driven retail traffic jumps 670%.
Caila Schwartz of Salesforce says AI accelerates purchases as AI-driven retail traffic jumps 670%.
Reposted by Econ Yap
Atlanta Fed GDPNow Estimate for Q3 2025: +3.9%
GDPNow
GDPNow forecasting model provides a
www.atlantafed.org
December 1, 2025 at 4:43 PM
Atlanta Fed GDPNow Estimate for Q3 2025: +3.9%
President Trump says he picked his next Fed chair.
Trump Says He Has Made His Choice to Lead the Federal Reserve
President Donald Trump said Sunday he has decided on his pick for the next Federal Reserve chair after making clear he expects his nominee to deliver interest-rate cuts.
www.bloomberg.com
December 1, 2025 at 7:18 PM
President Trump says he picked his next Fed chair.
President Trump said that his administration may cut income tax completely in the next couple of years as tariff revenue pours into government coffers.
Trump says he may cut income tax 'completely' because of tariff income
U.S. President Donald Trump said on Thursday his administration may slash income tax completely over the next couple of years because of government revenue generated from tariffs.
www.reuters.com
November 28, 2025 at 3:51 PM
President Trump said that his administration may cut income tax completely in the next couple of years as tariff revenue pours into government coffers.
President Trump vows to permanently pause migration from all Third World countries after an Afghan national shot two National Guard members near the White House.
USCIS director Joseph Edlow says he will review all Green Card holders from countries of concern.
USCIS director Joseph Edlow says he will review all Green Card holders from countries of concern.
Trump says U.S. to 'permanently pause migration from all Third World Countries’ after DC shooting
The president said he would also terminate "millions" of admissions under his predecessor Joe Biden and remove "anyone who is not a net asset" to the U.S.
www.cnbc.com
November 28, 2025 at 3:26 PM
President Trump vows to permanently pause migration from all Third World countries after an Afghan national shot two National Guard members near the White House.
USCIS director Joseph Edlow says he will review all Green Card holders from countries of concern.
USCIS director Joseph Edlow says he will review all Green Card holders from countries of concern.
The Office of the U.S. Trade Representative extends tariff exclusions for one year.
The move covers 14 solar equipment categories and 164 industrial and medical goods tied to Section 301 tariffs.
The move covers 14 solar equipment categories and 164 industrial and medical goods tied to Section 301 tariffs.
US extends tariff exclusions on some Chinese industrial goods as part of trade truce
The United States on Wednesday granted a one-year extension of tariff exclusions for some Chinese industrial and medical imports, including equipment for making solar-energy products, as part of a U.S.-China trade truce agreed earlier this month.
www.reuters.com
November 26, 2025 at 6:23 PM
The Office of the U.S. Trade Representative extends tariff exclusions for one year.
The move covers 14 solar equipment categories and 164 industrial and medical goods tied to Section 301 tariffs.
The move covers 14 solar equipment categories and 164 industrial and medical goods tied to Section 301 tariffs.
Dertour Germany CEO Boris Raoul reports a double digit drop in US bookings from German travelers after President Trump took office.
He says politics keeps demand falling while Canada trips rise.
www.reuters.com/worl...
He says politics keeps demand falling while Canada trips rise.
www.reuters.com/worl...
November 26, 2025 at 6:08 PM
Dertour Germany CEO Boris Raoul reports a double digit drop in US bookings from German travelers after President Trump took office.
He says politics keeps demand falling while Canada trips rise.
www.reuters.com/worl...
He says politics keeps demand falling while Canada trips rise.
www.reuters.com/worl...
Sources say the Trump administration is negotiating a trade deal that would push TSMC and other Taiwanese firms to boost US investment and train US workers as Taiwan seeks relief from a 20% tariff.
White House spokesman Kush Desai calls reports speculation.
White House spokesman Kush Desai calls reports speculation.
Exclusive: Trump team wants Taiwan to train US chip plant workers, sources say
U.S. President Donald Trump's administration is negotiating a deal that could commit Taiwan to fresh investment and training of U.S. workers in semiconductor manufacturing and other advanced industries, according to five people familiar with the matter.
www.reuters.com
November 26, 2025 at 5:45 PM
Sources say the Trump administration is negotiating a trade deal that would push TSMC and other Taiwanese firms to boost US investment and train US workers as Taiwan seeks relief from a 20% tariff.
White House spokesman Kush Desai calls reports speculation.
White House spokesman Kush Desai calls reports speculation.
The new DHS report warns China deployed an unprecedented number of vessels near U.S. Arctic waters in 2025.
DHS Undersecretary Robert Law says the Arctic now drives U.S. security and prosperity as the Coast Guard fields its first new polar icebreaker in 25 years.
DHS Undersecretary Robert Law says the Arctic now drives U.S. security and prosperity as the Coast Guard fields its first new polar icebreaker in 25 years.
Trump admin to ramp up icebreaker fleet as race for Arctic minerals heats up
DHS report says China's "continued expansion" in the Arctic is a key challenge to U.S. plans for the resource-rich region.
www.axios.com
November 26, 2025 at 5:07 PM
The new DHS report warns China deployed an unprecedented number of vessels near U.S. Arctic waters in 2025.
DHS Undersecretary Robert Law says the Arctic now drives U.S. security and prosperity as the Coast Guard fields its first new polar icebreaker in 25 years.
DHS Undersecretary Robert Law says the Arctic now drives U.S. security and prosperity as the Coast Guard fields its first new polar icebreaker in 25 years.
Up to 22 million people face higher costs in January as Affordable Care Act subsidies lapse.
President Trump says he would rather not extend the funds and wants the money to go to people directly, not insurance companies.
President Trump says he would rather not extend the funds and wants the money to go to people directly, not insurance companies.
Trump says he would 'rather not' extend Obamacare tax credits 'at all'
The president said he prefers to let the Affordable Care Act subsidies expire on schedule at the end of December, saying that if anything, he wants the money to go to "the people directly."
www.nbcnews.com
November 26, 2025 at 4:25 PM
Up to 22 million people face higher costs in January as Affordable Care Act subsidies lapse.
President Trump says he would rather not extend the funds and wants the money to go to people directly, not insurance companies.
President Trump says he would rather not extend the funds and wants the money to go to people directly, not insurance companies.