U.S. Economic News
April 16, 2019
U.S. Economic Indicators
Industrial production fell 0.1% in March (up 2.8% Y/Y), after rising 0.1% (revised) in February. Capacity utilization edged down 0.2 point to 78.8 in March. Fed Report
The NAHB Housing Market Index rose 1.0 point to 63.0 in April. Improved builder confidence reflects solid demand for new single-family homes, tempered by affordability concerns due to supply-side headwinds including chronic shortages of workers and buildable lots. NAHB Report
U.S. News
The Financial Times reports that the European Union is seeking a rapid deal with the U.S. to slash tariffs on industrial goods by November 1 of this year. The two sides have yet to agree on the scope of the negotiations as the E.U. pushes back against U.S. pressure for a deal that includes greater export opportunities for U.S. farmers. FT
According to the Wall Street Journal, Chicago Fed President Charles Evans stated that he expects one rate increase towards the fall of 2020 and another in 2021. He anticipates inflation rising toward the Fed’s 2.0% target this year and believes the Fed should allow inflation to overshoot the target to compensate for running short of that goal. WSJ