Debt and deficits won’t be as bad as feared but are still dangerous, CBO says
Both the nation’s debt and deficit will grow more slowly than previously forecast, according to new government data, the result of lower interest rates and reduced disaster spending.
US core capital goods orders rebound; shipments increase
New orders for key U.S.-made capital goods rose more than expected in May and shipments increased solidly, suggesting some stabilizing in business spending on equipment after it fell early in the year.
U.S. economy accelerated in first quarter, but momentum fading
U.S. economic growth accelerated in the first quarter, the government confirmed on Thursday, but the export and inventory boost to activity masked weakness in domestic demand, some of which appears to have prevailed in the current quarter.
Fed indicates it will cut rates — but not until 2020
The Federal Reserve on Wednesday said it does not expect any rate cuts this year, but did forecast one for 2020.
Fed likely to resist pressure to cut U.S. rates this week
The U.S. Federal Reserve, facing fresh demands by President Donald Trump to cut interest rates, is expected to leave borrowing costs unchanged at a policy meeting this week but possibly lay the groundwork for a rate cut later this year.
Solid U.S. retail sales offer economy some respite
U.S. retail sales increased in May and sales for the prior month were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter.
U.S. consumer prices barely rise; underlying inflation muted
U.S. consumer prices barely rose in May, pointing to moderate inflation that together with a slowing economy could increase pressure on the Federal Reserve to cut interest rates this year.
Hiring is expected to hit its highest level in 13 years during the third quarter
Despite some recent disappointing jobs numbers recently, companies in the third quarter are expected to hire at a pace not seen in 13 years, according to a survey Tuesday from ManpowerGroup.
Hiring by US businesses hits a record high
Hirings increased to 5.9 million in April, the highest level since the Labor Department started keeping track.
Markets can cheer: China appears to finally be addressing its US trade surplus
China will not allow the U.S. to interfere in its legislative process and economic policies, but it seems to be showing a readiness to keep its sales in American markets on a steep and steady downward path.