Publications

The Wall Street Journal reports that seaport and trade officials say that U.S. companies earlier this year pulled forward orders for Chinese goods subject to tariffs and are expected to do the same before new tariffs take effect on another wave of goods later this year. Many companies reportedly imported goods without a clear view on future demand, which has led to logistical bottlenecks and increasing costs. WSJ

According to the Wall Street Journal, U.S. companies are raising prices on consumer goods ranging from airline tickets to cookies to shoes. Firms say that rising prices for inputs subject to tariffs and higher transportation costs are forcing them to raise prices for consumers. WSJ

The Wall Street Journal reports that the U.S. Treasury expects to issue over $1 trillion in debt this year as higher spending and weaker tax revenues widen the deficit. The Treasury said that total debt issuance would be about $1.3 trillion in calendar year 2018, up from $546 billion in 2017 and the highest mark since 2010. WSJ

Amrith Ramkumar of the Wall Street Journal writes that hedge funds have scaled back their bets on bullish oil prices to the lowest point in a year. While much of 2018 saw robust demand and shrinking supply propel prices higher, investors now expect demand to slow and output to rise from key producers such as Saudi Arabia, which has weighed on oil prices. WSJ

The Wall Street Journal writes that despite recent, strong growth the U.S. economy is showing signs of slowing. Economists say that the main drivers of the current surge in growth — consumer spending and government spending — are likely to weaken in the coming quarters as the effects of tax cuts and spending bills fade. WSJ

The Financial Times reports that China’s top economic planning entity has proposed cutting a key tax on some automobiles in half. The proposal, which comes as China’s auto market is expected to decline this year for the first time since 1990, would boost profits for foreign automakers selling compact vehicles in China. FT

Melissa Korn of the Wall Street Journal writes that on average, 43% of college graduates end up with first jobs that do not require a college degree. Data also show that of those who are underemployed in their first job out of college, about two-thirds remain in jobs that don’t require college degrees five years later. WSJ

Minneapolis Fed President Neel Kashkari writes in a Wall Street Journal op-ed that the Fed should pause their interest rates hikes in order to allow wages to grow more quickly. Kashkari also contends that a pause in interest rate hikes would allow the FOMC to see how much slack remains in the labor market. WSJ