March 14, 2025: Economy Highlights

March 14, 2025: 11:00 p.m.:

March 14, 2025: Economy Highlights

U.S. consumer sentiment plunged to a 29-month low in March, with the University of Michigan's index dropping to 57.9 from 64.7 in February, amid concerns over President Trump's tariffs and rising inflation expectations.

The Federal Reserve is anticipated to maintain current interest rates in its upcoming meeting, with potential rate cuts expected later in the year due to trade war impacts and inflation risks.

The Senate approved a stopgap funding bill to prevent a government shutdown, extending funding at existing levels through September 30, 2025, with minor adjustments to defense and non-defense spending.

The Federal Reserve approved EverBank Financial Corp's proposal to acquire Sterling Bank and Trust, FSB, as part of ongoing financial sector consolidations.

Gold prices surged to a record high of over $3,000 an ounce, as investors sought safe havens amid economic uncertainty and market volatility.