U.S. Economic News
October 22, 2018
U.S. Economic Indicators
The Chicago Fed National Activity Index fell from +0.27 (revised) in August to +0.17 in September. The production, sales, and employment components made positive contributions while the personal consumption & housing component contributed negatively. Chicago Fed Report
U.S. News
The Financial Times writes that National Economic Council director Larry Kudlow has accused Beijing of doing too little to defuse trade tensions between the two nations. Kudlow said that China has shown no signs that it is willing to negotiate on key U.S. demands, including ending industrial subsidies and forced technology transfers. FT
Rebecca Elliott of the Wall Street Journal reports that U.S. oil companies are moving to expand export capacity at key American ports. Many firms already face significant pipeline bottlenecks that are forcing them to sell their crude at steep discounts, so they are moving to expand export capacity in order to avoid further price reductions. WSJ