10 Things You Need to Know: February 24, 2026
Bloomberg
February 19, 2026
Pending sales of existing homes fell 0.8% last month to the lowest level in data from 2001, following a revised 7.4% decline in December, according to the National Association of Realtors. The median forecast of economists surveyed by Bloomberg had pending sales rising 2%.
Bloomberg
February 20, 2026
Real GDP growth decelerated to 1.4% in 4Q, according to the advance estimate, down from 4.4% in 3Q. That was well below the 2.8% consensus forecast. The downside surprise largely reflected the prolonged government shutdown. Federal spending fell 16.6%.
Bloomberg
February 20, 2026
Monthly headline PCE inflation rose to 0.4% in December, from 0.2% (2.9% y/y) in November. The core PCE deflator jumped 0.36% in December. On a year-over-year basis, core PCE inflation increased to 3.0%, from 2.8% in November.
BEA
February 20, 2026
Personal income increased 0.3% at a monthly rate in December, according to estimates released by the U.S. Bureau of Economic Analysis. Disposable personal income increased 0.3%, and personal consumption expenditures (PCE) increased 0.4%.
France 24
February 22, 2026
The European Parliament’s trade chief will propose suspending ratification of the EU’s Turnberry trade agreement with the United States, citing uncertainty and market disruption stemming from President Donald Trump’s shifting tariff policy. EU officials said they require full clarity from Washington and warned the bloc expects the US to honor commitments agreed last summer.
Capital Economics
February 23, 2026
The Chinese government’s “anti-involution” campaign, which aims to tackle deflation by curbing excess supply, has yet to make much headway. That’s unlikely to change any time soon, as local officials will remain reluctant to embrace widespread production cuts that would drive up unemployment. Rebalancing towards consumption won’t provide immediate relief, and we expect China to remain stuck in deflation for at least another couple of years.
Barron’s
February 23, 2026
Despite the talk of dollar weakness, the current decline has only taken it close to the middle of the range it has traded in for the past 30 years, not exactly a sign of the apocalypse. Even dollar bears aren’t calling for the end of the dollar’s reign as the world’s reserve currency. The dollar is still the most widely used currency—accounting for more than 90% of foreign exchange transactions—and the U.S. is the most liquid and deepest market. There’s no close competitor.
Reuters, MarketWatch, CNBC
February 23, 2026
Federal Reserve officials signaled at their January meeting that interest rate cuts are on hold for now and would resume later this year only if inflation eases as expected, according to minutes released Wednesday. Some policymakers favored keeping rates steady for an extended period, while a few said hikes could be considered if inflation remains above the 2% target, underscoring divisions over balancing price stability and labor market support.
Bloomberg
February 19, 2026
Federal Reserve governor Stephen Miran dialed back his calls for how deeply the Fed should cut rates this year, telling an interviewer that recent data have reflected a stronger economy than he had expected. “The labor market came in a little bit better than I came to expect over the last few months,” Miran said. “There’s been some signs of even more firming in goods inflation,” he added. “And so those two things combined would make me undo what I did in December.”
WSJ
February 22, 2026
President Donald Trump has unveiled a new 15% global tariff on all imports to the US, invoking Section 122 of the Trade Act of 1974 as legal authority after the Supreme Court struck down many of his previous tariffs imposed under the International Emergency Economic Powers Act. The administration argues the move is justified by a purported US balance-of-payments crisis, though many economists and financial markets say no such crisis exists and doubt the legal basis for the action.