U.S. Consumer Spending Rises 0.4% in July
Spending has now risen by 0.4% or more for five straight months but "the downside to the economy’s upside is steadily increasing inflation.”
Fed Chair Defends Policy of Gradual Rate Hikes
The current monetary policy addresses both the risk of a slowdown in economic growth and the risk of the economy overheating, Jerome Powell says.
Fed Stays on Track for Gradual Rate Hikes
The central bank didn't raise rates on Wednesday but reiterated that "further gradual increases" would be consistent with economic conditions.
U.S. Business Inventories Rise 0.3% in April
The gain in inventories followed a 0.1% drop in March and was fueled by a 0.5% increase in retail inventories after a 0.7% decline the previous month.
Fed Raises Rates, Expects 2 More Hikes in 2018
The decision to increase rates for the second time this year “is another sign that the U.S. economy is in great shape,” the Fed chairman says.
U.S. Productivity Revised Down to 0.4% for Q1
“Without stronger productivity, achieving the 3% growth rate President Donald Trump has set as a goal becomes more difficult."
U.S. Retail Sales Increase 0.3% in April
The second straight monthly gain indicates consumer spending is picking up after rising only 1.1% in the first quarter.
U.S. Trade Deficit Falls 15% to $49 Billion
Despite the March decline, the U.S. is still “on track to run another large trade gap in 2018 that exceeds the deficit in the prior year."
Global CFOs Still Bullish on America — So Far
Growing protectionist views in the United States threaten to upset the economic status quo, Zurich finds.
U.S. Economy Slows to 2.3% Growth Rate in Q1
Economists expect the GOP tax cuts to give a boost to GDP in Q2 but the economy may still fall short of President Trump's 3% target this year.
U.S. Core Capital Goods Orders Drop 0.1%
The decline in the proxy for business spending plans "is not a red flag for the economic outlook yet even if the caution light should be left on.”