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  • Mar 07, 2025

US Treasury's Bessent says economy may slow in shift away from public spending

U.S. Treasury Secretary Scott Bessent said on Friday that the U.S. economy may slow as it transitions away from public spending towards more private spending, calling it a "detox period" needed to reach a more sustainable equilibrium. "Look, there's going to be a natural adjustment as we move away from public spending to private spending," Bessent said on CNBC. "The market and the economy have just become hooked, and we've become addicted to this government spending, and there's going to be a detox period."

  • Mar 07, 2025

US Energy Chief Will Seek $20 Billion to Refill Oil Reserve

(Bloomberg) -- US Energy Secretary Chris Wright plans to seek up to $20 billion to accomplish President Donald Trump’s goal of refilling the nation’s depleted oil reserve to its maximum capacity.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesNJ College to Merge With State School After Financial StressRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling

  • Mar 07, 2025

Trump Trade Wars, Sanctions Grip Already-Tight Heavy Oil Market

(Bloomberg) -- US President Donald Trump’s trade wars and sanctions are tightening the market for heavy crude, boosting prices for the sludgy oil and raising costs for the largest American refining center.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesNJ College to Merge With State School After Financial StressRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gaug

  • Mar 07, 2025

Canada’s Job Market Stalls After Months of Strong Gains

(Bloomberg) -- Canada’s job market unexpectedly took a breather after months of steady growth, but the unemployment rate held steady as fewer people looked for work.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesNJ College to Merge With State School After Financial StressRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’How Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year LowEmployment was v

  • Mar 07, 2025

Recession risks rise for all three North American economies over US tariff chaos: Reuters poll

Risks to the Mexican, Canadian and American economies are piling up amid a chaotic implementation of U.S. tariffs that has created deep uncertainties for businesses and decision-makers, according to Reuters polls of economists taken this week. U.S. inflation risks, which were already rising, have worsened, leaving the Federal Reserve on the sidelines for several months at least, while for Mexico, Canada and the U.S., recession risks are also mounting, the surveys found.

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