News Briefs

The Wall Street Journal reports that the leaders of the U.S., Mexico, and Canada signed the USMCA agreement in Buenos Aires. The agreement requires that 40% to 45% of automotive vehicles be made by workers earning at least $16 per hour to qualify as duty-free, and it also weakens protections for multinationals investing in other countries. WSJ

According to Nick Timiraos of the Wall Street Journal, the minutes of the Fed’s latest policy meeting indicate plans to raise interest rates in December, though the pace of rate hikes in 2019 is less certain. Fed officials raised concerns that trade, fiscal policy, as well as lagged effects of their recent policy tightening could be potential triggers for an economic slowdown. WSJ