Economy

New U.S. tariffs of 12.5% on 60 nations — including China — over forced labor could raise consumer prices and disrupt American supply chains, analysts warn.

Mortgage rates stuck at 6.48 percent and a shortfall of 500,000 homes priced below $260,000 are locking an entire generation of first-time buyers out of the housing market.

May payrolls doubled Wall Street's forecast of 80,000 as leisure and hospitality led gains, though wages still trail inflation at 3.4% vs. 3.8%.

The US proposed 10–12.5% tariffs on 60 countries over forced labor practices, targeting allies like Canada and the EU in a sweeping Section 301 trade action.

Q1 2026 GDP came in at 1.6% on a surge in business investment, but PCE inflation at 3.5% keeps rate cuts off the table for the rest of the year.

Home sales in Austin fell 14 percent in May as mortgage rates climbed above 7.2 percent, squeezing first-time buyers out of a market that added 80,000 residents last year alone.

With PCE at 3.5% and GDP growing just 1.6%, the Fed enters its June 16-17 meeting with markets skeptical of cuts and a recession debate quietly building in the background.