The rail supply industry plays a critical role in keeping the nation’s freight and passenger rail networks operating, investing, and modernizing. This new Oxford Economics study—supported by the Railway Supply Institute (RSI), REMSA, RTA, and Amtrak—provides the most comprehensive assessment to date of the industry’s economic footprint. Drawing on detailed operational and capital spending data across freight railroads, transit and commuter systems, and Amtrak, the report measures the activity that takes place within supplier firms, the activity supported through their domestic supply chains, and the additional economic activity generated by workers’ spending.
Emma Pollard
The US warehousing sector has undergone a profound transformation, evolving from traditional storage sites into high‑throughput logistics hubs that handle picking, packing, and goods movement at unprecedented scale. Employment has nearly tripled, mega‑facilities now anchor the industry’s footprint, and the mix of occupations has shifted toward item‑level fulfillment work, automation‑supported workflows, and increasingly technical roles.
Our January PCE nowcast points to a slightly stronger monthly gain than seen in the CPI report, with headline PCE rising 0.3% and core PCE increasing 0.4%. This would leave headline inflation steady at 2.9% year-over-year while core inflation edges up to 3.1% from 3% in December. Despite the uptick, slower unit labor costs and shelter-cost disinflation should keep core price pressures on a downward path, with core inflation expected to reach 2.3% by year-end.
The EU’s Tobacco Excise Directive set a harmonised framework for cigarette taxation, but our study shows that differences in the pace and scale of excise increases have contributed to a rise in illicit trade, especially in high-price Member States, and mixed cigarette excise revenue outcomes between 2011 and 2024 —highlighting the need for a more gradual and coordinated approach with the upcoming revision of the Tobacco Excise Directive.
The rapid deployment of generative and agentic AI in the financial services sector is expanding the scope of AI systems, forcing institutions to navigate a growing and unpredictable risk landscape. To mitigate the risk of operational failures and governance gaps, organizations need a consistent way to identify, measure, and disclose AI incidents, yet few such frameworks and studies exist today.
The White House has pivoted to a new tariff authority to impose a 10% global duty, with the possibility of a 15% rate still on the table. While the average effective tariff rate is only modestly lower than before, the shift introduces a new layer of policy uncertainty that could weigh on business decisions and the broader US outlook.
A jobless expansion, the growing role of financial wealth, and the impact of fiscal policy will widen the bifurcation of the consumer this year. The no-hire, no-fire labor market is delivering stability for most workers, but the young and underemployed are finding it increasingly difficult to gain a foothold. Lower inflation will help ease pressure, but will struggle to move the needle much, particularly for lower-income households.
While Kevin Warsh, the Trump administration’s nominee for Federal Reserve chair, was a more hawkish member of the Federal Open Market Committee during his term as Fed governor, his recent views have shifted in favor of rate cuts while remaining a consistent proponent of reducing the Fed’s balance sheet. He’s called for a new Treasury-Fed accord, outlining an agreement for a smaller balance sheet.
The production of The Pitt, Season One resulted in nearly $87 million in total spending across California in 2024. The production spent $62.2 million (72% of the total spend) on wages and salaries for local production cast and crew, and $24.8 million (28%) on goods and services supplied by local businesses.