Economic News

Record Imports Push US Trade Gap to 6-Month High $53.2 Billion

Record Imports Push US Trade Gap to 6-Month High $53.2 Billion

The U.S. trade deficit increased to a six-month high in August as exports dropped further amid declining soybean shipments and imports hit a record high, suggesting that trade could weigh on economic growth in the third quarter. The 6.4 percent to $53.2 billion, widening for a third straight month. Data for July was revised to show the trade deficit rising […]

Jobless Rate Nears 49-Year Low as Hurricane Hurts Wages, Payrolls

Jobless Rate Nears 49-Year Low as Hurricane Hurts Wages, Payrolls

U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions. The on Friday also showed a steady rise in wages, suggesting moderate inflation pressures, which could ease concerns about the economy overheating […]

Kudlow: Unemployment Rate Can Still Go Lower

Kudlow: Unemployment Rate Can Still Go Lower

National Economic Council Director Larry Kudlow predicts that the nation’s unemployment rate, already near a 49-year low of 3.7 percent, can still plunge even lower. “Unemployment has more downside to go,” “I don’t want to give a forecast per se, but I do think it can go lower,” he said after the Labor Department announced the drop of two-tenths of […]

Wall Street Backing Democrats in 2018

Wall Street Backing Democrats in 2018

Banks are going to bat for Democrats in the U.S. November midterm congressional elections as part of an ambitious strategy to rebuild the bipartisan support they enjoyed before the 2007-2009 financial crisis. Commercial banks have so far donated a total of $2.5 million to U.S. Senate Democrats in the 2018 election cycle, the largest sum since 2008, according to data […]

Nordhaus, Romer Win Nobel Prize for Tackling Climate, Innovation

Nordhaus, Romer Win Nobel Prize for Tackling Climate, Innovation

William D. Nordhaus of Yale University and Paul M. Romer of New York University’s Stern School of Business were awarded the 2018 Nobel Prize in Economics for including long-term thinking on climate issues and technological innovation in economic research. The two Americans “have designed methods for addressing some of our time’s most basic and pressing questions about how we create […]

What Happened This Week in the World Economy and Why It Matters

What Happened This Week in the World Economy and Why It Matters

The U.S., Canada and Mexico struck a deal for a revised Nafta, while not everyone is having a kumbaya trade moment. Oil that’s poised to soar further is adding one more pressure point for economies already getting a grip on the Federal Reserve tightening cycle. Here’s our weekly wrap of what’s going on in the world economy. Trade Times The […]

Investors Flock to Annuities, Money Funds, Bank CDs as Yields Soar

Investors Flock to Annuities, Money Funds, Bank CDs as Yields Soar

The yield starvation diet for American investors is over. Investors who quit products with ultra-low yields are hungry again for certificates of deposit and money market funds as interest rates surge to levels unseen since 2011. The shift in gravity on interest rates represents a return to normalcy after nearly a decade of rock-bottom yields. "Cash investors have been numb […]