U.S. Economic News
March 22, 2018
U.S. Economic Indicators
The FHFA House Price Index shows that U.S. house prices rose 0.8% in January and were up 7.3% from the same period last year. House prices rose on an annual basis in all nine census divisions, with the largest gains coming in the Mountain division. Report
Initial jobless claims rose 3,000 to 229,000 last week. The four-week moving average increased 2,250 to 223,750. DOL Report
U.S. News
Greg Ip of the Wall Street Journal writes that in an effort to stave off inflation, the Federal Reserve will attempt to guide unemployment up over the next few years without causing a recession. The combination of tax cuts, increasing federal spending, and synchronized global growth could cause the U.S. economy to overheat, which would require more aggressive responses from the Fed that could easily drive the economy into a recession. WSJ
The Wall Street Journal reports that U.S. manufacturers are seeking exemptions from the new steel and aluminum tariffs. While certain industries have sought blanket exemptions, the Commerce Department says that exemptions would only be granted to specific companies or products, not trade groups or associations. WSJ