Treasury Secretary Scott Bessent said Thursday the US economy could feel the pain from the ongoing government shutdown. "This isn't the way to have a discussion, shutting down the government and lowering the GDP," Bessent told CNBC's "Squawk Box.""We could see a hit to the GDP, a hit to growth, and a hit to working America." Though past shutdowns have tended to leave only a small mark on the economy, Bessent cautioned that this shutdown, which began at midnight on Tuesday, could be different.Economists ha ...

Inflation Projections - The Reserve Bank of India (RBI) has revised downwards its FY26 Consumer Price Index (CPI) inflation projection by 50 basis points to 2.6%, which is a significant 160 basis point cut from earlier projections made in April [2][3] - The report suggests that actual inflation for both FY26 and FY27 could be much lower than the RBI's revised estimates due to favorable domestic conditions [2][3] Economic Growth Estimates - The RBI has also increased its estimate for real GDP growth for FY26 to 6.8% [3] - For FY27, the inflation projection is set at 4.5% [3] Monetary Policy Insights - The Monetary Policy Committee (MPC) has decided to maintain the policy rate unchanged, which is seen as a logical move given the current global economic uncertainties [4] - The report emphasizes the importance of monetary policy communication in shaping expectations and maintaining clarity in forward guidance [4] Future Rate Cuts - The report indicates that the RBI may be open to future rate cuts due to low inflation forecasts and recent downward adjustments in growth estimates, although the timing of such cuts remains uncertain [5] Domestic Financial System - The MPC's decision reflects a dynamic approach that goes beyond traditional monetary policy, supported by comfortable liquidity conditions and a stable external sector despite trade uncertainties [6] - The domestic financial system is expected to benefit from forward-looking reforms aimed at enhancing India's global positioning and reinforcing its resilient economic ecosystem [6]

How worried should we be about a potential government shutdown once we blow through the deadline tomorrow at midnight. Democrats in the Senate, they're filibustering the Republican bud budget bill. They want to extend the health insurance subsidies and the Affordable Care Act, reverse some of the president's recent Medicaid cuts.So far, it sounds like that both sides are pretty intransigent. And if you look at the predictions market, they're currently assigning a roughly 75% odds of a shutdown by Wednesday. ...

How worried should we be about a potential government shutdown once we blow through the deadline tomorrow at midnight. Democrats in the Senate, they're filibustering the Republican bud budget bill. They want to extend the health insurance subsidies and the Affordable Care Act, reverse some of the president's recent Medicaid cuts.So far, it sounds like that both sides are pretty intransigent. And if you look at the predictions market, they're currently assigning a roughly 75% odds of a shutdown by Wednesday. ...

As a shutdown of the US government could stop economic releases and make for a foggy US economy, and perhaps one that's even a foggy year, which may just make all of our jobs trickier. Fortunately, we've got Stuart Paul with us. He's Bloomberg Economics, US and Canada economist.He joins us here in the studio. They will suspend all operations. That's a quote, the U.S. Bureau of Labor Statistics and cease all active data collection activities should the federal government shut down.What does that mean for you ...

Welcome back. Let's go back now to Washington DC, not to the White House where the president, you could see, is speaking with Benjamin Netanyahu from Israel, but to Capitol Hill because there is a meeting later today with top congressional leaders about trying to avoid a government shutdown. Emily Wilkins on Capitol Hill has more on that.Emily, hey Brian. Well, yeah. Cong the top congressional leaders, they're making their way to the other side of Pennsylvania Avenue headed to the White House where they are ...

makes sense of this economy. Like I just mentioned in the intro, you had GDP uh I think surprise a lot of folks out there almost uh rise 4%. You got a labor market uh not uh breaking 100,000 non-farm payroll increases anymore.How do you see things uh as we stand here right now. >> President Trump and Secretary Bess and Brian are certainly not surprised by the very strong year 4% growth in the second quarter, which was the president's first full quarter in office. The key thing about the labor market is we k ...

Economic Data Summary - Q2 GDP was revised up from +3.3% to +3.8%, marking the strongest quarter of growth since Q3 2023 [2] - Consumption saw a significant increase from +1.6% to +2.5%, indicating a stronger appetite among U.S. consumers [3] - The Price Index increased by 10 basis points, with headline at +2.1% and core at +2.6% [3] Job Market Insights - Initial Jobless Claims fell to 218K, down 17K from estimates and 14K from the previous week, reaching the lowest level since mid-summer [4] - Continuing Claims rose slightly to 1.926 million, remaining below 1.94 million for the third consecutive week [5] Durable Goods Orders - August Durable Goods Orders increased by +2.9%, significantly better than the prior month's -2.7% and the consensus estimate of -0.5% [6] - Excluding Transportation orders, the increase was +0.4%, down from +1.0% in the previous month [6] Trade and Inventory Data - The Advanced U.S. Trade Balance for August improved to -$85.5 billion from -$102.8 billion [7] - Advanced Retail Inventories remained unchanged at +0.2%, while Advanced Wholesale Inventories decreased to -0.2% [7] Company Performance Expectations - Costco is expected to report fiscal Q4 results with a projected earnings growth of +12.8% year over year and revenue growth of +8.1% [10] - Costco has outperformed earnings expectations in three of its past four quarters [10]

ToplineThe U.S. economy grew at a rate much higher than originally reported in the second quarter as consumer spending rose, according to revised data released Thursday by the Commerce Department, bringing surprise to economists. One economist noted a revision to economic growth—nearly 1% above initial reports—was “outside the norm.”Getty ImagesKey FactsReal gross domestic product increased at an annual rate of 3.8% in the second quarter, up from an earlier revision of 3.3% and initial reports of 3% growth, ...

All of those things would seem to suggest that this is an economy in trouble. Not so according to the economic data released in the last hour. It showed the US economy growing at the fastest pace in nearly two years, thanks to consumer spending, though apparently not on used cars.Fed Governor Stephen Myron spoke to Bloomberg ahead of that data on the next steps for the Fed. My view is not one of enormous economic pessimism. You know, I don't think the economy is about to crater. I don't think the labor mark ...