U.S. Economic News
November 19, 2019
U.S. Economic Indicators
Privately-owned housing starts rose 3.8% in October to a seasonally adjusted annual rate of 1.31 million (up 8.5% year-over-year). Housing permits rose 5.0% to a 1.46 million annual pace in October and are up 14.1% from last year. Census Bureau Report
U.S. News
The Financial Times reports that President Trump had a “cordial” meeting with Fed Chairman Jerome Powell on Monday, at which Powell stressed that the direction of monetary policy will depend on incoming economic data. Consistent with his comments at congressional hearings last week, Powell insisted that policy would continue to be dictated by the twin goals of stable inflation and maximum employment. FT
According to Bloomberg, a new University of Massachusetts Boston study revealed that around half of Americans living alone over age 65 lack the financial resources to pay for basic needs such as adequate food and housing. States in the Northeast tend to have the highest rates of elder economic insecurity, while more than half of all financially insecure elders rely on Social Security for at least 90% of their income. Bloomberg