American Economic Association

Economic NewsObserve coverage of the U.S. and international financial system, jobs and unemployment; banking; rates of interest and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable items. US President Donald Trump said the newest decline within the yuan is known as ‘foreign money manipulation”’ and indicated he’d just like the Federal Reserve to act to counter the Chinese language action. June worldwide commerce deficit of $fifty five.2B got here in bigger than the $fifty four.7B deficit anticipated, largely unchanged from the $55.3B deficit in May.

And all else equal, slower financial progress means slower profit growth for businesses. Powell factors to unfavorable and constructive financial developments since the last FOMC assembly – job development stays strong and GDP development got here in close to expectations, however manufacturing output declined for 2 quarter, Powell noticed.

China’s yuan has fallen further towards the U.S. dollar amid fears about mounting economic damage from Beijing’s commerce struggle with President Donald Trump. Federal Reserve Governor Lael Brainard says she’s watching monetary markets closely, including that the central financial institution is dedicated to sustaining the U.S. economic system’s growth.

July Dallas Fed manufacturing survey general business exercise index -6.3 compares with consensus and -12.1 prior. The p.c change in real GDP by metropolitan area ranged from 12.1 % in Odessa, TX to -7.eight p.c in Enid, OK. A weighted average of the ISM indices is in keeping with zero economic growth at the start of the third quarter,” Hunter said.

Monday’s stories both served as signs of an financial system full of market members and business leaders involved concerning the specter of tariffs causing a recession. Trade tensions between the U.S. and China have taken a toll on economic growth within the U.S. and overseas.…