This Week in ESG and Impact Investing

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September Consumer Inflation Accelerates to 3.7%: Black and Minority-Owned Businesses Face a Growing Cost Squeeze

Surging gasoline prices, persistent service inflation, and higher borrowing costs threaten minority-business profitability as the U.S. economy confronts renewed inflationary pressure. The September 2026 Consumer Price Index confirms that inflation is accelerating again, raising serious concerns for Black and minority-owned businesses already facing elevated operating expenses and limited access to affordable capital. According to the Bureau of Labor Statistics, consumer prices increased 0.6 percent in September , following a 0.4 percent increase in August. Annual inflation rose to 3.7 percent from 3.4 percent , while core inflation, excluding food and energy, increased to 2.6 percent year-over-year . These numbers reinforce our earlier concerns that inflation was not disappearing. It was shifting between categories, with energy prices once again becoming a major source of economic instability. Energy Inflation Is the Immediate Threat Energy prices increased 5.2 percent in September and...

Steel and Silicon: The Future of U.S.-EU Innovation. Labiba Rifah Nanjeeba, Bard College.

Steel and Silicon: The Future of U.S.-EU Innovation On October 8, 2026, the Center for European Policy Analysis (CEPA) hosted “Steel and Silicon: Allied Innovation for the Next Century” at the Embassy of Sweden in Washington, DC. The event focused on U.S.–Sweden trade relations, technological advancement, AI policy, and cooperation between the European Union and the United States. With Sweden ranking as the ninth-largest foreign investor in the U.S., the conversation centered on strengthening the two countries’ trade and commercial ties. Congressional AI Priorities The first panel brought together U.S. representatives to discuss technological advancement, particularly in AI. Speakers stressed the urgency of AI development, noting that China is only about six months behind the United States. They described this as a bipartisan concern, pointing to China and Russia as shared challenges. While they viewed AI advancement as essential, they also emphasized safety and security. They highligh...

Where does the US stand today, and where do we want to go? Julia von Rueden, American University

The American Growth Summit at the Willard Hotel on September 29 offered deeper insights into the current economic situation of the United States and into future developments. Under the overarching theme of growth, the discussions focused in particular on AI and innovation, trade, tariffs and the relationship with China, as well as work and education. AI and innovation: The general mood toward AI was strikingly positive. Senator Mike Rounds pointed to its potential in healthcare, and Siemens stressed that it is not only about developing AI but about implementing it in the real world. To do that, employees have to be trained first. Nick Andersen spoke about security "of, with and from AI" and about how AI can expose bad decisions. From the government side, the message was that innovation is moving faster than ever. Companies should keep innovating, and policymakers want to stay out of the way as much as possible. At the same time, there was a warning against complacency, becau...

Wo stehen die USA heute und wo wollen wir hin? Julia von Rueden, American University

Der American Growth Summit im Willard Hotel am 29. September hat tiefere Einblicke in die aktuelle wirtschaftliche Lage der USA sowie in zukünftige Entwicklungen gegeben. Unter dem Hauptthema Wachstum wurden insbesondere die Themen KI und Innovation, Handel, Zölle und die Beziehung zu China sowie Arbeit und Bildung behandelt. KI und Innovation: Die Grundstimmung gegenüber KI war auffallend positiv. Senator Mike Rounds verwies auf das Potenzial im Gesundheitswesen, und Siemens betonte, dass es nicht nur darum geht, KI zu entwickeln, sondern sie in der realen Welt umzusetzen. Dafür müssen zuerst die Mitarbeitenden geschult werden. Nick Andersen sprach über Sicherheit „of, with and from AI“ und darüber, dass KI schlechte Entscheidungen sichtbar machen kann. Von Regierungsseite hieß es, Innovation sei gerade so schnell wie nie. Unternehmen sollen weiter innovieren, die Politik will dabei möglichst nicht im Weg stehen. Gleichzeitig wurde vor Selbstzufriedenheit gewarnt, denn in China entste...

The Trumpsqueeze: Higher Prices, Higher Interest Rates, Fewer Jobs

The U.S. economy is entering a difficult phase that deserves its own name: the Trumpsqueeze . The Trumpsqueeze describes an economy in which households and businesses are simultaneously pressured by elevated prices, high borrowing costs, slower employment growth, and weakening wage momentum . It is not exactly stagflation. Economic output can still grow. Corporate profits can remain strong. Financial markets can even rise. But underneath those headline numbers, consumers and smaller businesses can find themselves increasingly squeezed. For Black and minority-owned businesses, that squeeze can be even more severe. What is the Trumpsqueeze? The Trumpsqueeze can be summarized as: Higher operating costs + higher borrowing costs + slower hiring and wage growth = shrinking economic room to maneuver. The latest data illustrate the problem. The U.S. economy added only 29,000 jobs in September 2026 , while the unemployment rate increased to 4.2% . The Bureau of Labor Statistics also revised Jul...

September Jobs Report Confirms a Weakening U.S. Labor Market. Black Unemployment Increases From 6.0% to 7.0%.

The September 2026 employment report confirms what we have been w arning about for months : the U.S. labor market is considerably weaker than headline economic narratives have suggested. The Bureau of Labor Statistics reported that total nonfarm payroll employment increased by only 29,000 jobs in September , while the unemployment rate edged up to 4.2 percent . Employment in every major industry was essentially unchanged. That is an extremely weak payroll number. Even more important, BLS revised previously reported employment sharply downward. July payroll growth was revised from +21,000 to -10,000 , while August was revised from +162,000 to +133,000 . Together, July and August employment was 60,000 jobs lower than previously reported . This is particularly noteworthy because after the August report we warned that the initially reported 162,000 payroll increase might be revised downward . That has now occurred. Black Unemployment Jumps to 7.0 Percent The most troubling number in the Se...