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.
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
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.
Trump says he’s ending trade talks with Canada over TV ad
The post late Thursday comes after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs.
Trump’s immigration crackdown weighs heavy on the US labor market
Immigrants do jobs—cleaning houses, picking tomatoes, painting fences—that most native-born Americans won’t, and for less money.
To hit back at US in their trade war, China borrows from America’s playbook
When President Trump launched his trade war with China shortly after he returned to the White House, Beijing readily deployed its new tools in addition to raising tariffs to match those imposed by the U.S.
Americans increasingly worried about ability to find good jobs, poll finds
Some 47% of U.S. adults are “not very” or “not at all confident” they could find a good job if they wanted to, an increase from 37% when the question was last asked in October 2023.
Shutdown impact: What it means for workers, federal programs and the economy
The shutdown began Oct. 1.
IMF upgrades US growth outlook as tariffs cause less disruption than expected
While the U.S. and world economies have fared better than expected, it’s too soon to say they are fully in the clear, the IMF said.
Two industries were supposed to drive America’s future. One is booming, the other slumping.
Both fields have been in the spotlight in Washington through successive administrations, but appear to be heading in different directions.
Regions Bank economist sees more growth ahead
Regions Bank’s chief economist, in a visit to Indianapolis, said the metro area has been performing better economically than much of the country, in part because of the area’s diversified economy.
US job openings hold steady, with few layoffs and weak hiring
Another report showed consumer confidence fell in September to a five-month low on concerns about a cooling labor market and the broader economy.
Trump to announce drug-pricing deal with Pfizer, new ‘TrumpRx’ website
The announcements are part of an effort to secure “Most Favored Nation” pricing deals with pharmaceutical manufacturers, an effort to link U.S. drug prices to the lowest cost of drugs paid by the wealthiest countries.