GET DAILY REPORT FREE
Temporary reprieve: A federal judge agreed Friday to block the Trump administration from dismantling the Consumer Financial Protection Bureau, an agency that was targeted for mass firings before the court’s intervention. U.S. District Judge Amy Berman Jackson agreed to issue a preliminary injunction that maintains the agency’s existence until she rules on the merits of a lawsuit seeking to preserve the agency. Read more from the Associated Press.
Weak growth: Policy uncertainty and new sweeping tariffs from the Trump administration are combining to create a stagflationary outlook for the U.S. economy, experts warn. A group of experts surveyed by CNBC sees first-quarter growth registering an anemic 0.3% compared with the 2.3% reported in the fourth quarter of 2024. It would be the weakest growth since 2022 as the economy emerged from the pandemic. Read more from CNBC.
Probability revised: Goldman Sachs raised the probability of a U.S. recession to 35% from 20% and says it expects more rate cuts by the Federal Reserve, as President Donald Trump’s tariffs roil the global economy and upend financial markets. Read more from Reuters.
