U.S. Economic News
May 2, 2018
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 204,000 jobs in April, slightly above expectations of 190,000. The services sector added 160,000 jobs and the goods-producing sector added 44,000 jobs. ADP Report
U.S. News
The Financial Times reports that President Trump has sent key trade advisers to China in the hopes of avoiding a trade war. The U.S.’ goals include a significant reduction of the U.S.-China trade deficit and a tempering of China’s “Made in China 2025” initiative, which provides massive government fiscal stimulus to ten key hi-tech sectors. FT
Jon Sindreu of the Wall Street Journal writes that central banks will continue to have outsize power over financial markets in years to come. Sindreu argues that the detailed communications that central banks offer about the path of rate hikes will continue to guide market movements, especially as inflationary pressures continue to mount in the economy. WSJ