cnbc.com / .cnbc-com-economy

President Joe Biden blocked Nippon Steel from purchasing U.S. Steel for $14.9 billion in January, citing national security concerns.

JPMorgan sees this action cutting billions from American's spendable cash pile each month.

Year-ahead inflation expectations rose to 7.3% from 6.5% last month, according to a University of Michigan survey.

Federal Reserve Chair Jerome Powell speaks Thursday morning to the Thomas Laubach Research Conference.

The consumer price index was expected to increase 0.2% in April for a 2.4% annual inflation rate.

At the Tegernsee summit, business leaders urged Germany's new government to turn campaign promises into reality.

Customs duties totaled $16.3 billion for the month, some 86% above the $8.75 billion collected during March.

The trade pact reached over the weekend represents another stage in the U.S. shaking its reliance on Chinese products, the Treasury chief said.

The German economy has long been sluggish, and little reprieve is in sight.

"A U.K.-U.S. trade agreement is very welcome... But the U.K. is a very open economy," Andrew Bailey told CNBC ...