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Macro

Axios Macro

That Y2K feeling: Why today's economy resembles 2000

Warning signs are flashing on the AI trade. Here's where to spot them

Risk radar is beeping&nbsp;

Data: FactSet; Chart: Axios/Matt Phillips

Warsh signals steady Fed outlook despite inflation jump

Fed's Beige Book tells inflation story

The too-hot-for-comfort economy

A column chart that shows monthly Producer Price Index change from September 2025 to September 2026. The change ranges from minus 0.12% in June 2026 to 1.34% in September 2026. Gains accelerate through spring 2026, dip negative in June, then rebound through late summer.

Monthly change in Producer Price Index

Data: Bureau of Labor Statistics; Chart: Courtenay Brown/Axios

For the big banks, a double-edged sword under Trump

A line chart that tracks daily percentage changes in five big bank stocks from Oct. 10-14, 2026. On Oct. 14, Bank of America fell 6.25%, Citi 5.67%, Wells Fargo 4.14% and Goldman Sachs 3.03%, while JPMorgan rose 0.12%. Citi led gains earlier at 1.35% on Oct. 12.

Percentage change in big bank stocks

Data: Financial Modeling Prep; Chart: Courtenay Brown/Axios

New inflation warning sign

Inflation heats up as gas prices surge

A line chart that tracks monthly overall inflation and inflation excluding food and energy from January 2021 to September 2026. Overall inflation rises from 1.4% to 9% in June 2022, then eases to 2.3% in April 2025 before climbing to 3.7% by September 2026.

Year-over-year change in Consumer Price Index

AI investment is crowding everything else out

Markets

Axios Markets

Why the chip stocks wobbled

Chipping in 

Data: Goldman Sachs; Chart: Axios/Matt Phillips; Note: Micron numbers reflect actual results reported on Sept. 30, 2026. 

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News and analysis that matters about the Federal Reserve and interest rates.