The New York Fed. Size, influence, and policy execution in the U.S. financial system.
Major automakers have pulled several electric models and cancelled projects after federal tax credits ended in 2025, while Q2 2026 US EV sales have recovered sequentially to about 247,226 units. Higher fuel prices, state rebates and low‑cost entrants such as Slate, Fiat Topolino and Chinese brands in Europe are reshaping supply, pricing and consumer demand.
Iraq’s prime minister travels to Washington to deepen economic ties as the Strait of Hormuz remains closed and fighting between the US and Iran intensifies. Oil output, IMF talks, and potential US investment are on the table while Iran-backed groups push back against disarmament. Diplomatic prospects hinge on stabilizing energy flows and expanding state control over weapons.
Iraq's prime minister-designate has arrived in Washington for talks with President Trump on strengthening economic ties, attracting U.S. investment, and advancing the plan to curb Iran-backed militias. The visit follows Baghdad's push to end militias' influence, with the U.S. promising to tailor policy to Iraq's progress in disarming them.
UK regulators are expanding Buy Now, Pay Later oversight. From July 15, BNPL providers must be authorised by the FCA, undergo affordability checks, and offer clearer information and complaint routes. The changes aim to protect consumers while preserving access to flexible payments.
As AI infrastructure expands, builders report shortages in electricians and skilled trades, while energy and material costs tighten the supply chain. The buildout is powering new, well‑paid jobs even as critics flag environmental and energy concerns.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
A cluster of reports shows rising debt strain in mid-2026: credit card balances have reached $1.26 trillion with 12.8% of balances past due; student loan delinquencies are stabilizing yet defaults remain high as the SAVE plan ends and litigation continues. Autopay incentives have been expanded temporarily to encourage on-time payments.
Universities and policymakers have accelerated alternatives to traditional four‑year degrees: three‑year, 90‑credit bachelor’s tracks, expanded apprenticeships and technical routes are gaining traction as families and adult learners face cost and labour‑market pressure. Critics warn shortened degrees and cuts to specialist support for disabled students will narrow learning and harm future prospects.
The Treasury has expanded debt buybacks and is extending short-term borrowing to manage a growing U.S. debt burden. Analysts warn the strategy addresses near-term costs but leaves the longer-term inflation and funding challenges unresolved as corporate debt rises and global buyers pull back.
The United States has removed Syria from its state sponsor of terrorism list, and has also delisted the al-Nusrah Front. Damascus says the move unlocks investment and accelerates reconstruction as it seeks to reintegrate with the global economy. Washington frames the step as a path to stability, while analysts caution continued regional risks.
The Federal Reserve has raised its benchmark rate by a quarter-point for the first time since 2023, moving the target to 3.75%-4.00%. Inflation remains above the 2% goal, and policymakers say they will slow spending and cooling the economy. Borrowers will pay more on mortgages and credit cards, while savers are likely to see higher returns on savings accounts and CDs.