The Federal Reserve is leaving its benchmark interest rate unchanged while signalling further gradual rate hikes in the months ahead as long as the economy stays healthy. The Fed’s decision left the central bank’s key short-term rate at 1.75% to 2%—the level hit in June when the Fed boosted the rate for a second time […]
The U.S. economy surged in the April-June quarter, growing at an annual rate of 4.1%. That’s the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who sought to get their products delivered ahead of retaliatory tariffs. Read: What’s boosting the U.S. dollar—for now The Commerce Department reports that […]
His comments do impact markets, Scotiabank expert says, but are only "mild cause for concern"
U.S. homebuilders sharply curtailed the pace of construction in June as housing starts plummeted 12.3%. The Commerce Department said Wednesday that housing starts fell to a seasonally adjusted annual rate of 1.17 million from 1.34 million in May. June’s pace of construction was the lowest since September 2017. Housing starts plunged 35.8% in the Midwest […]
Federal Reserve Chairman Jerome Powell says that the central bank has tools it could use to cushion the adverse effects a trade war might have on the economy. But he tells Congress the effort could be challenging if higher tariffs push inflation up too sharply. Powell says if the retaliatory tariffs imposed by other countries […]
U.S. retail sales rose at a solid pace last month despite higher prices and modest wage gains, a sign of underlying consumer optimism and potential strong GDP growth. The Commerce Department said Monday that sales at retailers and restaurants increased 0.5% in June, following a big 1.3% gain the previous month. May’s figure was revised […]
There are concerns about the country's economic outlook
Semi-annual report to Congress also offers economic analysis
Consumer prices rose in June at the fastest pace in more than six years
Federal Reserve officials last month said they expect to keep raising interest rates and suggested that by the next year, they could be high enough that they could start slowing growth, according to minutes of their discussion released Thursday. While noting a strong economy, Fed officials appeared vigilant about emerging risks, especially trade tensions, and […]