US economy expands at 4.3% annual rate in the third quarter, fastest in 2 years
But economists caution that persistent and potentially worsening inflation could make a January interest rate cut from the Fed less likely.
Economy
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IBJ Podcast: Pete the Planner on student loan collections, recessions, stagflation (and holding our breath)
As the U.S. economy contracts, consumer confidence weakens and we await the impact of tariffs, millions of student loan holders must redirect their income to payments. Pete Dunn helps us get a footing in this economic limbo.
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Cummins withdraws 2025 financial guidance over tariff uncertainty
Cummins Inc. has become the latest in a string of companies to withdraw its 2025 guidance.
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UPDATE: Lawmakers expect ‘tough’ budget cuts to offset $2.4B drop in projected revenue
An updated revenue forecast presented to the Budget Committee projected the state’s revenue will flatline from 2025 to 2027.
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Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
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Articles
Instacart ends a program where users could see different prices for the same item at the same store
A recent report by consumer advocacy agencies said Instacart offered nearly three out of every four grocery items to shoppers at multiple prices as part of an experiment.
Republicans and Democrats pitch competing plans to tackle affordability
Lawmakers in both parties view simmering fury over the cost of living as the top issue in next year’s midterm elections and are pitching a growing profusion of proposals to tackle the notoriously difficult problem of affordability.
Most US adults aren’t making year-end charitable contributions, poll finds
December serves as a deadline of sorts for donors, with the National Philanthropic Trust estimating that nearly one-third of annual giving happens in the final month.
Inflation cooled unexpectedly in November
The report lands at a moment of growing uncertainty about the broader economic outlook, with job growth slowing sharply in recent months.
A ‘recession’ is looming for people who want jobs in technology
Over the last year, the tech industry has been reshaping itself amid economic uncertainty, reorganization around artificial intelligence and a push to become more cost-efficient.
Rep. Todd Huston: Data centers are powering today’s modern economy
We’re competing for these projects not just with other cities and states but with countries across the globe.
Small-business optimism rises on brighter sales outlook
Inflation concerns ranked as the second-biggest problem for small firms behind labor quality.
Holiday shopping at small businesses driven by online sales, social media focus
Small businesses are being impacted by economic instability, despite national predictions that call for record spending at small businesses this holiday season.
Economic, tech experts talk AI at Elevate Ventures event
Artificial intelligence is spurring big investments, big opportunities and big disruptions, speakers said at an Elevate Ventures event Thursday afternoon in downtown Indianapolis.
Bankers bet big on 2026 after underwriting $65B in deals
Dealmakers are banking on markets remaining calm enough to sell on those commitments to investors.
Thanksgiving shopping weekend sees record spending
The nation’s shoppers might feel gloomy about the economy but they certainly were in the mood to shop over the five-day Thanksgiving weekend that wrapped up on Cyber Monday.
Factory activity shrinks by the most in four months
The survey suggests the nation’s manufacturing base remains bogged down by trade policy uncertainty and elevated production costs.
IPO market’s red-hot year has been cooled by the shutdown and more caution among investors
The S&P 500 is still up more than 12% for the year and the tech-heavy Nasdaq is up more than 15%.
Labor Department won’t release full October jobs report, a casualty of the 43-day federal shutdown
Wednesday’s announcement means the September jobs numbers will likely get extra scrutiny Thursday.
US trade deficit drops 24% as Trump’s tariffs reduce imports
A drop in imports and the trade deficit is good for economic growth because foreign products are subtracted from the nation’s gross domestic product.
Manufacturing reshoring push could be boon to Indiana, expert says
Tariffs have caused pain for consumers this year, but they could lead to a resurgence in U.S. manufacturing in which Indiana would benefit, a Fifth Third Bank executive said Thursday morning at IBJ’s 2026 Economic Forecast breakfast.
Longest shutdown in history costing economy about $15B each week, analysts say
Now in its 36th day, the shutdown has surpassed the previous record set in early 2019 during President Donald Trump’s first term.
AI has the nation’s largest employers putting their workers on notice
Walmart CEO Doug McMillon warned at a company event in September that AI is set “to change literally every job” and that his workers would have to adapt.
US inflation stays elevated but prices rose less than feared last month
The data for Friday’s report was gathered before Oct. 1, but price data for October isn’t being gathered due to the government shutdown, and the Trump administration suggested Friday that an inflation report won’t be released next month.