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April 2026 Producer Price Index (PPI) Summary – Implications for Minority Business

The April 2026 Producer Price Index (PPI) report signals a significant escalation in upstream inflation pressures that are likely to further strain Black- and minority-owned firms over the coming months. The PPI for final demand increased 1.4% in April following gains of 0.7% in March and 0.6% in February. On a year-over-year basis, producer prices are now up 6.0%, the largest annual increase since December 2022. The report is particularly concerning because inflation pressures are broadening beyond volatile categories. Prices for final demand services rose 1.2%, accounting for nearly 60% of the monthly increase, while prices for final demand goods increased 2.0%. The “core” measure of producer inflation — final demand less foods, energy, and trade services — increased 0.6% in April and 4.4% over the past year, the largest increase since early 2023. The PPI report reinforces and deepens concerns raised by yesterday’s CPI release. CPI showed consumer inflation accelerating to 3.8% year-...
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April CPI Accelerates Again — Black and Minority Firms Face Mounting Economic Pressure

The April 2026 Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics sends a troubling signal for Black and minority-owned firms. Inflation accelerated sharply again in April, with the CPI rising 0.6% for the month following March’s already elevated 0.9% increase . Over the past 12 months, overall inflation climbed to 3.8% , up from 3.3% in March . The data suggest that inflation is no longer just “sticky.” It is broadening and intensifying in key categories that disproportionately affect minority businesses and the communities they serve.  The biggest concern is energy. The energy index surged 3.8% in April alone and is now up 17.9% over the past year . According to the BLS release, energy accounted for more than 40% of the monthly CPI increase .  For Black and minority firms, this is especially damaging because many operate in sectors where fuel and transportation costs are unavoidable: trucking and logistics delivery services rideshare transportation ...
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April 2026 Employment Report Highlights Gaps for Black, Hispanic, Native, and Women Workers

The U.S. Bureau of Labor Statistics released the April 2026 Employment Situation report on May 8, showing a labor market that remains stable on the surface but continues to reveal major disparities across racial, ethnic, and gender groups. According to the report, unemployment rates showed little change in April for adult men (4.0%), adult women (3.9%), Whites (3.7%), Blacks (7.3%), Asians (3.3%), and Hispanics (5.0%). Teen unemployment remained extremely elevated at 14.4%. The most striking figure remains the Black unemployment rate of 7.3% — nearly double the White unemployment rate. This persistent gap reflects continuing structural disparities in hiring, wages, access to opportunity, and economic resilience. Hispanic workers, with unemployment at 5.0%, remain vulnerable to weakness in construction, logistics, hospitality, and other service sectors sensitive to slowing economic growth. Asian unemployment remained low at 3.3%, supported by stronger representation in technology, healt...
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Powell is right to stay at the Fed; the central bank needs continuity

American Banker Newspaper BankThink:  Powell is right to stay at the Fed; the central bank needs continuity.  By William Michael Cunningham Published May 01, 2026, 7:30 a.m. EDT Jerome Powell has indicated that he will buck tradition by remaining on the Federal Reserve Board after his term as chair expires. Bloomberg News • Key insight: Jerome Powell's decision to remain on the Federal Reserve Board is not a break with tradition for its own sake. It is a response to conditions that justify it. • What's at stake: Recent developments make clear that the institutional guardrails surrounding the Federal Reserve System are being actively tested. • Forward look: By choosing to remain at the Fed, Powell is reinforcing the principle that central bank independence is a core institutional requirement that must be actively protected. This week marks a pivotal moment for the Federal Reserve. With Kevin Warsh advancing toward confirmation and Jerome Powell concluding what is likely h...
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AI, Q1 2026 GDP, and Minority-Owned Businesses

The latest data on U.S. economic growth tells a story that looks strong on the surface—but uneven underneath. First-quarter 2026 GDP growth came in at roughly 2%, with a major driver being a surge in artificial intelligence (AI) investment (1.5%). Data centers, server infrastructure, and software systems are powering a new wave of private-sector expansion, with nonresidential investment rising sharply—up nearly 8.7% in the quarter. This is not a typical business cycle story. It is a structural shift. The question is not whether AI is driving growth. It is who is being left out. AI as a Capital-Intensive GDP Engine AI’s current contribution to GDP is heavily concentrated in capital formation: Massive buildout of data centers Explosive demand for server equipment and chips Increased spending on cloud and AI software infrastructure Companies like Amazon, Microsoft, Google, Meta, and Oracle are leading this expansion. From a GDP accounting standpoint, this shows up as a surge in private in...
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IMF Spring Meeting: Regional Economic Outlook. Sol Tran, Whitman College.

The IMF/World Bank Annual Spring Meetings ran from April 13 to 17, and I was fortunate to have the opportunity to listen to several of the Regional Economic Outlook press briefings that accompanied them, including briefings from the Asia and Pacific Department, Africa Department, Middle East and Central Asia Department, European Department, and Western Hemisphere Department. Overview: The war in the Middle East rewrote everything Every single briefing, whether it was on Asia, Sub-Saharan Africa, the Middle East itself, Europe, or the Western Hemisphere returned to one main factor: the war that broke out in the Middle East as of February 2026. This changed the economic forecast in ways that nobody modeled just months earlier. Oil prices surged past $100 a barrel, the Strait of Hormuz, though which roughly one-fifth of the global oil supply and more than a quarter of the global liquid natural gas (LNG) passes, came close to a standstill. The European gas prices rose by roughly 60 percent...
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The Federal Reserve’s “Troubling Reality” for the Wealthy Is a Warning for Everyone Else — Especially Black America

Figure 1 - Federal Reserve Distributional Financial Accounts (DFA): Wealth Concentration, Pandemic Bump and Post 2022 Reversal. DFA data via FRED. FAR Stress Ratio is a CIR-Developed metric: Top 1% Share divided by the Bottom 50% Share.  The latest report highlighted in Federal Reserve System data and discussed in this TheStreet article ( TheStreet ) makes a stark point: wealthy Americans are pulling further ahead at a pace “with no historical precedent,” reshaping how the economy functions beneath seemingly resilient headline numbers.  This is not just a story about the rich getting richer. It is evidence of a structural transformation of the U.S. economy — one that I have warned about for decades in my books , regulatory filings , and amicus briefs . The implications are particularly severe for Black and minority-owned firms, whose wealth base is thinner, whose capital access is more constrained, and whose exposure to macroeconomic shocks is higher. A K-Shaped Economy Is Now...
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