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Economic News

Survey Finds Majority of Americans Want a Fed Rate Cut

When the Federal Reserve meets this week, for the first time in months the big question will not be whether or not they'll raise interest rates but whether they might cut them. According to the personal finance site WalletHub, there's a 23% chance they do so during their next session,...

Trump Cancels Mexico Tariffs While Threatening China on Trade

Today was going to be the day that a new 5% tariffs on all imported goods from Mexico was supposed to go into effect (before climbing another five points monthly until it reached 25%). However President Trump announced on Friday that he was canceling that plan after our southern neighbors...

President Trump Announces New Tariffs on Goods From Mexico

Another week, another round of trade news. On Thursday night, President Trump announced that his administration would be imposing new tariffs on Mexican imports that are set to take effect in just a couple of weeks. What's more, unlike the more targetted tariffs on Chinese goods that apply to specific...

JP Morgan Economists Lower Q2 2019 GDP Estimate to 1% Growth

The last time the Bureau of Economic Analysis announced the United States' quarterly gross domestic product growth, analysts were surprised to learn actual growth was 3.2% — far higher than the 2.5% rate that many expected. However economists at JP Morgan aren't expecting a repeat performance for Q2. In fact...

U.S.-China Trade War Escalates, Stocks Fall

Just a couple of weeks ago it seemed that the United States and China were on their way to reaching a trade deal. This hope even played a role in helping the S&P 500 and Nasdaq indices reach record highs. Unfortunately, late last week, President Trump announced that tariffs on...

United States Unemployment Falls to 49-Year Low

Another week, another better-than-expected economic report. Today the United States Labor Department issued its latest jobs report showing that the economy added 263,000 jobs in the month of April. Not only does that top the 213,000 jobs MarketWatch's poll of economists had anticipated but also helped bring the unemployment rate...

United States' Q1 GDP Growth Exceeds Expectations

Following a relatively weak fourth quarter that brought down the United States' 2018 average gross domestic product growth to just below 3%, the economy managed to to exceed expectations and roar back in the first quarter of 2019. According to CNBC, a poll of economists estimated the quarter's GDP growth to...

S&P 500, Nasdaq Reach Record Closing Highs on Tuesday

Ever since U.S. markets took a tumble on Christmas Eve of last year, much has been made about an impending turnaround. Earlier this week those fears seemed far out of mind as the S&P 500 and the Nasdaq both closed at record highs. As for the Dow Jones Industrial Average,...