As the week comes to a close, here’s a quick recap of the top stories that dominated the headlines, from the world of politics to the economy and the stock market.
Scott Bessent Fires Back At Bob Elliott‘s Claim That Tariffs ‘Offset’ Rent Relief
An economist’s analysis warned that a “surge in tariff related price hikes” is keeping inflation “stuck above 3%,” effectively nullifying any relief from falling rents. This analysis, which details how tariff costs are working “through supply chains,” was sharply rebutted by Treasury Secretary Scott Bessent.
Read the full article here.
Hakeem Jeffries, Chuck Schumer Blast Trump’s White House Bathroom Makeover
President Donald Trump came under fire for focusing on a White House bathroom renovation. House Minority Leader Hakeem Jeffries and Senate Majority Leader Chuck Schumer criticized the move as millions of Americans prepare for sharply higher health insurance premiums.
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Inflation Vs. Reality: Bilello Slams ‘Clearly Wrong’ Government Data
Charlie Bilello, the chief market strategist at Creative Planning, has sharply criticized official government inflation data, calling its calculation for health insurance “absurd” and “clearly wrong.”
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See Also: Trump And Xi Jinping Meet In South Korea To Discuss Trade War, Rare Earths And More In High-Stakes Summit: President Calls It The ‘G2’ Summit – Benzinga
Jobs Down 33%, Stocks Up 75% — Expert Blames Fed Policy, Not AI
A viral chart showing the S&P 500 soaring while job openings plunge has fueled fears that artificial intelligence is splitting the American economy in two. Since ChatGPT‘s debut in November 2022, the S&P 500 has surged more than 70%, while job openings have fallen about 30%.
Read the full article here.
Rate Cuts, Meltups, And Market Euphoria — Ed Yardeni Says It’s 1999 All Over Again
The Fed is set to lower interest rates again this year, but according to Ed Yardeni, the economy doesn’t need the help—and the result could be a stock market meltup reminiscent of the late 90s tech frenzy.
Read the full article here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.