chief economist

  • Donald Trump Nov 1, 2019

    US Economy Defies Threats With a Solid Job Gain for October

    A solid October jobs report on Friday spotlighted the surprising durability of the U.S. economy in the face of persistent trade conflicts and a global slowdown. The economy managed to add 128,000 jobs last month even though tens of thousands of workers were temporarily counted as unemployed because of the now-settled strike against General Motors. What’s more, the government revised...

  • Donald Trump Sep 18, 2019

    A Divided Fed Reduces Rates But May Not Cut Again This Year

    A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year. The Fed’s move reduced its key short-term rate — which influences many consumer and business loans — by an additional quarter-point to a range of 1.75% to 2%.

  • Driver Sep 6, 2019

    Modest Hiring Enough to Fuel Sluggish But Durable US Economy

    Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy’s record-long expansion in the coming months. Yet with the economy still under threat from a weak global economy and President Donald Trump’s trade war with China, Chairman Jerome Powell made clear Friday that the Federal Reserve is poised...

  • texas Aug 28, 2019

    New Survey Highlights Nationwide, Texas Struggles to Find Qualified Construction Workers

    Whether it’s houses, high rises, or roads, there is no shortage of construction projects happening in North Texas. But according to a new industry survey, there is a shortage of qualified construction workers.

  • Donald Trump Aug 17, 2019

    Recession Signs Worry Trump Ahead of 2020

    President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation’s strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won’t look so good come Election Day. The financial markets signaled the possibility of a U.S. recession...

  • Donald Trump Aug 1, 2019

    Powell Raises as Many Questions As Answers With Fed Rate Cut

    The Federal Reserve cut its key interest rate Wednesday for the first time in a decade to try to counter the impact of President Donald Trump’s trade wars, stubbornly low inflation and global weakness. It left open the possibility of future rate cuts, but perhaps not as many as Wall Street had been hoping for. During a news conference, Chairman...

  • Donald Trump Jul 5, 2019

    US Adds Solid 224,000 Jobs, Making Fed Rate Cut Less Certain

    U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy’s durability after more than a decade of expansion. The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this month on whether to cut interest rates to help support the economy. Most...

  • Donald Trump Jun 28, 2019

    US Economy Grew at Solid 3.1% Rate in First Quarter

    The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the United States and China. The gain in the gross domestic product, the broadest measure of economic health, was unchanged...

  • Donald Trump Jun 17, 2019

    Don't Expand China Tariffs, US Companies Tell Trump

    What happens if President Donald Trump carries out his threat to impose tariffs on the remaining $300 billion in Chinese goods that he hasn’t already hit with 25% import taxes? The administration, in the midst of the trade war it began with Beijing, had asked for comments on its plan to extend 25% tariffs to everything China ships to the...

  • Donald Trump Jun 7, 2019

    Why Trump's Trade Wars Are Pressuring Both Economy and Fed

    A sharp pullback in U.S. hiring for May intensified fears that the economy has weakened and that many employers have grown nervous, in part from President Donald Trump’s escalating trade wars. Yet the stock market soared and bond yields fell because investors found a reason to cheer: The tepid employment report magnified their expectations that the Federal Reserve will cut...

  • Associated Press May 25, 2019

    Young Homebuyers Scramble as Prices Rise Faster Than Incomes

    For millennials looking to buy their first home, the hunt feels like a race against the clock. In the seven years since the housing crash ended, home values in more than three-quarters of U.S. metro areas have climbed faster than incomes, according to an Associated Press analysis of real estate industry data provided by CoreLogic.

  • New York May 15, 2019

    Falling Home Sales Not Helping Middle-Class Buyers: Analysis

    When home sales weaken, prices typically do, too, and buyers benefit. Not quite this time. Home purchases in many areas of the country have dipped, and price gains have slowed. Yet a rising number of middle-class Americans are finding that home ownership is unaffordable. Why? Mortgage rates are up after years near historic lows. Price increases have been outrunning paychecks....

  • Massachusetts May 14, 2019

    Is Sea Rise Wrecking Coastal Home Values? The Answer: Maybe

    For sale: waterfront property with sweeping views of the Atlantic Ocean. Waves erode beach regularly. Flooding gets worse every year. Saltwater damage to lawn. Asking price: anyone’s guess.

  • Department of Labor May 1, 2019

    Survey: US Businesses Are Hiring; 275K Jobs in April

    U.S. companies in April added the most jobs in 9 months, a sign that hiring remains strong amid solid economic growth. Payroll processor ADP said Wednesday that businesses hired 275,000 people last month, up from just 151,000 in March. That’s a much higher number than economists forecast for Friday’s government jobs report. Current projections call for the Labor Department to...

  • Donald Trump Apr 23, 2019

    A Trump Fed Choice Steps Aside, and Another Faces New Doubts

    President Donald Trump’s efforts to reshape the Federal Reserve stumbled on Monday, with one of his potential nominees for the Fed’s board withdrawing from consideration and another being enveloped by fresh doubts. Herman Cain, a former CEO of Godfather’s Pizza, asked to be taken out of the running for an influential post at the U.S. central bank, Trump tweeted. Cain...

  • Donald Trump Mar 29, 2019

    If a Recession Really Is Coming, Here's What Powell and Trump Can Do to Stop It

    With a reliable bond market signal pointing to a possible recession down the road, policymakers have a choice: act now to head off the downturn or hope that conditions will change for the better. As far as markets are concerned, the do-nothing option is far less preferable. When it looked last year like the Federal Reserve was ignoring a looming...

  • Donald Trump Mar 22, 2019

    Trump to Nominate Stephen Moore for Federal Reserve Board

    President Donald Trump said Friday that he will nominate Stephen Moore, a conservative economic analyst and frequent critic of the Federal Reserve, to fill a vacancy on the Fed’s seven-member board. Moore, a well-known and often polarizing figure in Washington political circles, served as an adviser to Trump during the 2016 campaign. In that role, he helped draft Trump’s tax...

  • Atlanta Mar 7, 2019

    A Hot US Job Market Is Coaxing People in From the Sidelines

    A surprisingly strong burst of job growth over the past year has led many economists to wonder: Where are all the workers coming from? As recently as last spring, analysts had worried that hiring would slow as the pool of unemployed shrank. Many employers have complained for years that they could no longer find enough people to fill their open...

  • Donald Trump Mar 6, 2019

    US Trade Deficit Hits 10-Year High Despite Trump's Promise

    The U.S. trade deficit jumped nearly 19 percent in December, pushing the trade imbalance for all of 2018 to widen to a decade-long high of $621 billion. The gap with China on goods widened to an all-time record of $419.2 billion. The Commerce Department figures released Wednesday undermined a key commitment by President Donald Trump, who promised to cut the...

  • Donald Trump Feb 28, 2019

    US Growth Slows at End of 2018, Is Likely to Slow More

    The U.S. economy turned in a solid performance in 2018, boosted in part by tax cuts and higher government spending. But growth slowed by year’s end, and most economists envision a weaker outlook for the coming months and probably years. The nation’s gross domestic product, the broadest gauge of economic health, expanded at a 2.6 percent annual rate in the...

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