The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department on Tuesday showed job openings rose to 7.136 million. Economists had forecast 6.9 million. The prior month was revised up to 7.077 million, the first time this number has ever exceeded 7 million. Until April of 2017, there had never […]
Atlanta Fed Raises GDP View to 4.2 Percent on Strong Economic Data…
The U.S. economy is expanding at a 4.2 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday, following the release of the latest data on producer prices and wholesale trade. That was a tad faster than the 4.1 percent pace calculated on Oct. 5 by the Atlanta […]
5 Questions Worried Americans Will Ask After Dow Slumps Over 800 Points…
The Dow Jones Industrial Average DJIA, -3.15% S&P 500 index SPX, -3.29% and Nasdaq Composite Index COMP, -4.08% have all been experiencing volatility in recent months, weighed by rising bond yields and a trade war with China. The Dow fell more than 800 points and the S&P 500 had its worst day since February. What […]
Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff…
President Donald Trump again criticized the Federal Reserve for raising interest rates, calling it a “mistake” hours after the worst U.S. stock market sell-off since February. “The Fed has gone crazy,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “So you can say that well that’s a lot of […]
U.S. Consumer Confidence Surged in August to Near 18-Year High…
A measure of economic confidence among American households rose in August to its highest level since October 2000. The Conference Board on Tuesday said its index of U.S. consumer confidence climbed to 133.4 in August from 127.9 in July. The August reading well exceeded economists’ expectations. Factors including a buoyant job market and rising incomes […]
U.S. Regains Top Spot as WORLD’S Most Competitive Economy…
The United States “dethroned” Hong Kong this week to take the top spot as the World’s most competitive economy; further signaling a robust US recovery under President Trump and the recently passed GOP tax cuts. “The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth […]
The Fed Is on a Collision Course…
Is the Trump economic boom a mirage? The data say yes, but the Fed models say no. The Fed has a long track record of sticking to its model-based approach and missing major turns in the U.S. economy. Current Fed policy will push the U.S. economy to the brink of recession later this year. When […]
America May Soon Face Its Biggest Labor Strike in Decades…
The Teamsters and UPS could be heading toward the nation’s largest strike in decades. On Tuesday, the union announced that members voted more than 90% in favor of going on strike, if a deal is not reached before the current labor contract expires on August 1. UPS employs 260,000 Teamsters, and has added 40,000 union […]
Fifth Third Bank to Acquire Chicago-Based MB Financial in $4.7B Deal…
Chicago-based MB Financial Inc. announced on Monday it would merge with Fifth Third Bancorp in a deal valued at $4.7 billion. The transaction will result in one of the region’s largest middle-market banks. MB Financial’s chief executive officer Mitch Feiger will serve as CEO for the Chicago area after the acquisition and two members of […]
“The outlook is not good”: Goldman Sees U.S. in Dire Straits As Deficit Hits $2 Trillion in 10 Years…
Three months ago, Goldman first among the big banks warned that the US fiscal trajectory was dire, warning that “US fiscal policy is on an unusual course” with the budget deficit expected to widen over the next few years, as a result of prior imbalances and recently enacted policies – namely Trump’s dramatic fiscal stimulus […]
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