The pilot program is now available to an estimated 19 million taxpayers; inflation rose to 3.2% in February; Southwest to reduce capacity amid fewer Boeing deliveries; Tyson Foods closing Iowa pork plant amid less consumer demand.
Stocks close mixed; people’s inflation expectations mostly unchanged; Reddit hoping to raise more than $750 million in IPO; inflation data due this week.
Commerce Secretary Raimondo is visiting the Indo-Pacific countries; Saudi Arabia’s Aramco reports $121 billion profit in 2023; Trump says he would continue to rely on tariffs if reelected; Justice Department launches probe of Alaska Airlines Max jet accident, WSJ reports.
The Labor Department reports the unemployment rate last month spiked up to 3.9%; New York Fed President John Williams says the “neutral interest rate”is still quite low; President Biden cites job creation and the low unemployment rate in his State of the Union speech; The Gap turns profitable.
President Biden will call for higher taxes on corporations and billionaires; Red Sea missile attack kills three on cargo ship; initial jobless claims remain low at 217,000; NYCB customers withdrew 7% of deposits in a month, bank reports.
A handful of big tech companies must comply with new European Union rules taking effect at midnight; job openings remain elevated at 8.9 million; Powell sees inflation risk in cutting rates too soon; hackers who attacked UnitedHealth may have run away with ransom payment.
