This Week's State Of The Economy-What Is Ahead?

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 03, 2019

This Week's State Of The Economy-What Is Ahead?

How will Fed rates-cut and Trump 10% tariff on $300 Billion Chinese Goods countered by Chinese currency devaluation against Dollar, affect inflation and economic slowdown in US economy? Read the comprehensive reports from Wells Fargo Securities Economics Group. 

The Fed cut rates this week for the first time since December 2008, lowering the fed funds rate 25 bps to 2.25% in a move widely  telegraphed by Fed officials and wholly anticipated by financial  markets. Attention was more focused on the Fed's next move, and whether or not 25 bps would be sufficient to sustain the  expansion. Markets took the move as a mildly hawkish cut, with  the yield curve flattening and equities falling in response. Chair Powell gave investors a lot to digest in his post-meeting press  conference, particularly with his mixed messaging on whether or  not this cut was the start of an easing cycle. Powell termed it a mid-cycle adjustment but also indicated the Fed was not  necessarily done. We still expect the factors that necessitated this cut will compel the Fed to cut once more this year. Powell cited the downside risks from weak global growth and trade policy  uncertainty and sub-target inflation as reasons to insure against  an early end to the expansion.




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The manufacturing sector is showing a great deal of resilience, with the ISM Manufacturing survey exceeding expectations, at 60.7, and factory orders remaining strong.

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The ISM non-manufacturing index jumped 11.7 points to 57.1, reflecting the broadening re-opening of the economy.

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What do pollen and the Consumer Price Index (CPI) have in common? Answer; both are hitting new highs. This week’s U.S. economic data was led by the largest month monthly increase in the Consumer Price Index (CPI) since September 2005.

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A recent strong report from the National Association of Homebuilders set the tone for another round of strong housing data. The NAHB index rose two points to a record high 85.

August 2020 Economy At A Glance

Downstream involves the refining and processing of oil and natural gas into fuels, chemicals, and plastics. All three sectors are well-represented in Houston.

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The general outlook remains positive as households have accumulated over $2T in excess savings on their balance sheets and net worth has risen across all income groups.

This Week's State Of The Economy - What Is Ahead? - 10 January 2020

The week began amid rising tensions carrying over from the U.S. killing of Iranian General Qasem Soleimani last Friday.

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Mexico’s economy has slowed notably over the last year, with the economy contracting again in Q4, indicating a full-year contraction for 2019.

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Nonfarm employment rebounded in January, with employers adding 49,000 jobs following the prior month\'s 227,000-job drop.

This Week's State Of The Economy - What Is Ahead? - 28 February 2020

The COVID-19 coronavirus hammered financial markets this week and rapidly raised the perceived likelihood and magnitude of additional Fed accommodation.


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