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Surging U.S. tariffs will weaken the global economy and push up inflation this year, according to projections to be released next week by the International Monetary Fund. The IMF’s Managing Director, Kristalina Georgieva, said Thursday that the Trump administration’s sharp increases in duties have caused global uncertainty to spike. The import taxes will slow global growth, but not cause a worldwide recession, she added.

Blackstone CEO Steve Schwarzman said Thursday that 'a fast resolution' to President Trump's tariff talks with other countries is critical to keep the economy on a 'growth path.'

The Federal Reserve Bank of Philadelphia has chosen Anna Paulson, a top official at the Chicago Fed, to serve as its next president. Paulson, 60, will replace Patrick Harker on June 30, when Harker steps down after completing a 10-year term.

If the U.S. economy avoids a downturn caused by tariffs, economists see risks of financially painful "stagflation."

NEW YORK (Reuters) -Federal Reserve Bank of New York President John Williams said Thursday he sees no imminent need for a change in central bank interest rate policy as Trump administration tariffs are likely to drive up inflation, weaken growth and push up unemployment. “I think monetary policy is well positioned,” Williams said in an interview with Edward Lawrence on television channel Fox Business. “I don't see any need to change the setting of the fed funds rate anytime soon.”

U.S. President Donald Trump's trade policies have sparked concerns about rising inflation and a potential recession, prompting the bank to set aside a bigger buffer to cover loans that might not be repaid. Huntington's provision for credit losses was $115 million, higher than $107 million from a year earlier. Its net interest income - the difference between what a bank earns as interest on loans and pays out on deposits - jumped to $1.43 billion in the first quarter, compared with $1.29 billion a year earlier.

(Bloomberg) -- Shale fracker Liberty Energy Inc. posted its worst earnings in three years amid plunging oil prices and mounting concerns about energy demand.Most Read from BloombergTrump Signs Executive Orders on Federal Purchasing, Office SpaceDOGE Places Entire Staff of Federal Homelessness Agency on LeaveHow Did This Suburb Figure Out Mass Transit?Why the Best Bike Lanes Always Get BlamedNashville’s $3 Billion Transit Plan Brings a Call for Zoning ReformAdjusted first-quarter profit fell to 4