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1. Fed likely to hold interest rates steady
While the U.S. Federal Reserve is feeling pressure to continue interest rate cuts in the face of criticism from President Donald Trump, it's likely going to keep rates where they are when the Fed meets this week, the New York Times reports.
The tariffs enacted by the Trump administration and the inflation spike that could come along with them has Fed officials more cautious when it comes to resuming interest rate cuts.
“It’s too uncertain to be preemptive,” said Ellen Meade, who served as a senior adviser to the Fed’s board of governors until 2021 and is now at Duke University. “The date for a cut is the time that the slowing of the economy outweighs, in their view, the overshoot in inflation.”
2. Newark Airport faces staffing, tech problems
Newark Liberty International Airport had an air-traffic technology outage early last week that disrupted flights, and runway construction and air-traffic control staffing issues led to hundreds of flight delays and cancellations last week as well, the Wall Street Journal reports.
CNN reports that staffing issues led to major delays for an "unparalleled" seven consecutive days at the airport.
The airport came in last place in the WSJ's rankings for reliability, convenience and value among large airports.
3. Hoteliers in Latin America, Caribbean remain resilient
Political and economic uncertainties in the United States affect the Caribbean and Latin America region as well, but hotel and travel analysts believe they can carve out opportunities amid the challenges, CoStar News' Stephanie Ricca reports from the ALIS CALA conference in Miami.
“The global economy is shifting, with evolving trade dynamics and, of course, geopolitical uncertainty,” said Eric Parrado, chief economist and economic counselor and general manager of the research department for Inter-American Development Bank. “But amid these challenges, Latin America and the Caribbean remain resilient and have opportunities."
4. Global economy feels US tariff impact
Companies around the globe have cut growth projections and warned of potential job cuts, and major economies are revising down on growth prospects in light of the Trump administration's tariffs, Reuters reports.
"U.S. tariff policy is a serious negative shock for the world in the near term," said Isabelle Mateos y Lago, group chief economist at French bank BNP Paribas. "The U.S. tariffs endgame may be further away and at a higher level than previously thought."
Beijing is evaluating an offer to hold talks over tariffs with the U.S., and the Trump administration has suggested it is close to deals with India, South Korea and Japan to avert more tariffs.
5. Hotel del Coronado nears completion of years-long renovation
The historic 938-room Hotel del Coronado in San Diego is nearing the completion of a renovation that started in 2019, the New York Times reports. The $550 million renovation and restoration is expected to be complete next month.
When the property opened with 750 rooms back in 1888, it was the largest hotel in the world.
David Marshall, president of Heritage Architecture & Planning, oversaw the restoration project. He used original photographs and the hotel's first set of blueprints to inform the renovation.
“People come to the Del to have a historical experience, so preserving the integrity was very important,” Marshall said.