How is the US economy really doing under President Trump? President Donald Trump has been boasting about the performance of the US economy ahead of the midterm congressional elections, claiming he has boosted incomes, reduced inflation and created jobs. Trump has repeatedly said: We have the hottest country anywhere in the world. While the overall US economy is faring better than many expected after Trump launched his sweeping Liberation Day tariffs in 2025, there's evidence those import taxes and the impact of the US-Israel war with Iran have pushed up inflation, with the harmful effects felt by most American households. The US economy is also being helped by an AI investment boom, and could falter if that spending were to dry up. So how does all this feel for the average American?

The International Monetary Fund (IMF) has a responsibility to help poorer nations struggling with rising debt, high inflation and price shocks caused by war spillovers, the head of the global lender says. Speaking as the IMF's annual meetings in Bangkok wrapped up on Saturday, Managing Director Kristalina Georgieva said discussions with global policymakers showed both "optimism and worry". "But AI is also recognised to be a source of worry and so are inflation, high levels of debt, wars, climate risks." Georgieva said vulnerable nations are missing out on the AI investment boom that is driving growth in richer countries while at the same time dealing with higher borrowing costs. Higher global interest rates mean low-income countries now spend 8 to 14 percent of their revenue on debt repayments, up from previous years, she said.

US inflation rose by more than expected in the year to September, according to official figures, in the final data release before the midterm elections next month. The pace of price rises increased to 3.7%, up from 3.4% in the 12 months to August. Inflation was above forecasts, driven by higher gasoline prices which have spiked following disruption to Middle East energy supplies due to the US-Israel conflict with Iran. The elections are being fought over cost of living pressures across the US. Inflation is the rate at which the price of products or services increase over time.

Kristalina Georgieva, before the start of the IMF-World Bank annual meeting in Singapore, said economic policy chiefs could not keep delaying action. Kristalina Georgieva, before the start of the IMF-World Bank annual meeting in Singapore, said economic policy chiefs could not keep delaying action. Kristalina Georgieva says big economies will have to make'very touch choices' as soaring bond yields hit budgets The head of the International Monetary Fund has called on governments across big economies to tighten their belts as soaring bond yields hit budgets. Speaking in Singapore, the IMF's managing director, Kristalina Georgieva, said global debt-to-GDP ratios were at their highest level since the second world war and on course to hit 100% in the coming years. She said governments could not rely on rapid economic growth to lift the burden of debt - and instead would have to make "very tough political choices".

Follow this section to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. Follow this tag to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. Follow this author to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. President Donald Trump photographed at the White House in Washington, D.C. on Sept. 28, 2026. President Donald Trump photographed at the White House in Washington, D.C. on Sept. 28, 2026. Follow this author to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. President Donald Trump sat down for an interview with TIME at the White House on Sept. 28.

RBA governor Michele Bullock speaks at the CEDA event on Tuesday. RBA governor Michele Bullock speaks at the CEDA event on Tuesday. RBA governor says AI is'great white hope' but its adoption is so far adding to inflation, rather than economic growth The Reserve Bank governor said AI could be a bubble and there was no evidence it is making the economy more efficient, as the Albanese government claims the technology will solve Australia's economic malaise. Ahead of an expected interest rate rise next week Michele Bullock also said the slump in house prices was deeper than others in Australia's recent history. Resurgent oil prices and inflation are weighing on markets but US tech stocks surged on Monday after Facebook owner Meta debuted its new Muse AI agent and saw its shares rise 11%.

Follow this section to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. Follow this tag to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW?

The Federal Reserve raised interest rates for the first time since 2023 as inflation remains elevated. Voters feeling the squeeze on mortgage rates and credit cards may not care.

What's happening to UK interest rates and what does it mean for mortgages? The Bank of England has kept UK interest rates unchanged at 3.75% for a sixth time in a row, keeping them at the lowest level since February 2023. Before the US-Israeli war with Iran, rates had been expected to fall in 2026, but the economic fallout from the conflict has pushed up inflation across the globe, making cuts unlikely and rises a possibility. Interest rates affect mortgage, credit card and savings rates for millions of people. What are interest rates and why do they change?

Policymakers at the Bank of England are expected to keep interest rates unchanged despite price rises accelerating due to the prolonged conflict in the Middle East. The nine-member Monetary Policy Committee (MPC) has been meeting amid a backdrop of increasing global energy prices and interest rate rises around the world. Economists expect the MPC to hold the benchmark Bank rate at 3.75% for a sixth consecutive meeting but analysts are more divided on whether the rate will need to go up before the end of the year. The Bank rate is crucial in setting the benchmark for banks and other lenders in setting interest for individuals and businesses borrowing and saving money. The latest interest rate decision will be announced by the Bank at 12:00 BST on Thursday.