U.S. Economic News
November 26, 2018
U.S. Economic Indicators
The Chicago Fed National Activity Index rose from +0.14 (revised) in September to +0.24 in October. The employment, sales, and production-related indicators made positive contributions, while the housing & personal consumption category contributed negatively. Chicago Fed Report
U.S. News
The Wall Street Journal writes that Chinese ambassador to the U.S. Cui Tiankai hopes the President Trump and Chinese President Xi Jinping will make progress on economic and trade issues when they meet at the Group of 20 meetings in Buenos Aires. The Chinese ambassador stated that if current tensions between the U.S. and China continue, global markets may become fragmented. WSJ
Kris Maher of the Wall Street Journal reports that the cost of major infrastructure projects will rise due to tariffs, a strong economy and tight labor market. Through October, the prices of diesel fuel, asphalt, and steel mill products had increased significantly year-on-year, contributing to the rising costs of infrastructure investment. WSJ
Elga Bartsch writes in an op-ed for Financial Times that U.S. interest rates are slowly approaching the neutral level that stabilizes growth and inflation. Bartsch states that the Fed ought to continue raising rates to contain an overheating economy and ease imbalances accruing in the financial sector. FT