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U.S. Consumer Price Index (September 2025)
September's inflation report came in a bit softer than expected, thanks to a sharp cooling in primary shelter costs. Elsewhere, there were plenty of signs to suggest that elevated inflationary pressures are likely to persist in months ahead.
October 24, 2025
Latest Research
The Economic & Fiscal Impacts of U.S. Defense Spending in 2026 and Beyond
The Trump administration is expected to front-load defense appropriations included in the One Big Beautiful Bill Act in fiscal year 2026, driving defense spending above $1 trillion (+15% year-on-year). We expect this to boost real GDP growth by 0.2 percentage points next year, with a larger gain in 2026 inhibited by existing production and labor capacity constraints.
October 22, 2025
Trending
U.S. Federal Reserve Beige Book (October 2025)
Today's Beige Book sheds some light on how the U.S. economy fared through September and the first week of October. Overall, economic activity was little changed relative to the previous report and has remained modest. Looking across the twelve Fed Districts, three reported slight to modest growth, five reported no change, and four noted a slight softening
October 15, 2025
Latest Research
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
The U.S. recently passed landmark legislation to regulate so-called stablecoins, or digital tokens that are designed to maintain a fixed value against assets such as the U.S. dollar. James Marple, Associate Vice President and Senior Economist with TD Bank Group, says while the new legislation is not without risks, it could potentially reshape the U.S. payments system making remittances and trade payments faster, cheaper and more reliable.
October 06, 2025
Latest Research
U.S. Government Shutdown Risks: 2025 Edition
As has become commonplace in recent years, the federal government is once again at risk of a shutdown to kick off the new fiscal year on October 1st. There is still time for an agreement to be reached in Congress, but the current deadlock in Congress warrants consideration for what would happen should an agreement not be reached by next Wednesday.
September 25, 2025
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Weekly Bottom Line
October 24, 2025
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State Economic Forecast
September 23, 2025
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U.S. Quarterly Economic Forecast
September 18, 2025
Updated Publications
Questions? We've Got Answers: Addressing Issues Impacting the Economic and Financial Outlook
August 20, 2025
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Updated Publications
Weekly Bottom Line
October 24, 2025
Updated Publications
State Economic Forecast
September 23, 2025
Updated Publications
U.S. Quarterly Economic Forecast
September 18, 2025
Updated Publications
Questions? We've Got Answers: Addressing Issues Impacting the Economic and Financial Outlook
August 20, 2025
View more updated publications
Latest Research
Latest Research
The Economic & Fiscal Impacts of U.S. Defense Spending in 2026 and Beyond
October 22, 2025
Latest Research
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
October 06, 2025
Latest Research
U.S. Government Shutdown Risks: 2025 Edition
September 25, 2025
Latest Research
U.S. Consumer Spending Loses Altitude as Policy Turbulence Spikes
September 16, 2025
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Next
Latest Research
The Economic & Fiscal Impacts of U.S. Defense Spending in 2026 and Beyond
October 22, 2025
Latest Research
WATCH: James Marple discusses how the new legislation on stablecoins could reshape the U.S. payment system on MoneyTalk
October 06, 2025
Latest Research
U.S. Government Shutdown Risks: 2025 Edition
September 25, 2025
Latest Research
U.S. Consumer Spending Loses Altitude as Policy Turbulence Spikes
September 16, 2025
View more latest research
Commentaries
Trending
U.S. Consumer Price Index (September 2025)
October 24, 2025
Real Estate
U.S. Existing Home Sales (September 2025)
October 23, 2025
Trending
U.S. Federal Reserve Beige Book (October 2025)
October 15, 2025
Business Investment
U.S. NFIB Small Business Optimism Index (September 2025)
October 14, 2025
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Trending
U.S. Consumer Price Index (September 2025)
October 24, 2025
Real Estate
U.S. Existing Home Sales (September 2025)
October 23, 2025
Trending
U.S. Federal Reserve Beige Book (October 2025)
October 15, 2025
Business Investment
U.S. NFIB Small Business Optimism Index (September 2025)
October 14, 2025
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