The US economy is on the cusp of a recession based on LEI

The US Leading Economic Index fell by 0.1% in May, marking a 16% decline from its peak. This consistent drop raises concerns about the economic outlook, as historical patterns indicate that such declines have often preceded recessions.

Fed Chair Jerome Powell faces scrutiny as he prepares to testify before Congress. With pressure mounting from the Trump administration for immediate rate cuts and backing from Fed officials, market expectations are adjusting rapidly.