U.S. Economic News
June 9, 2017
U.S. Economic Indicators
The U.S. Census Bureau reports that wholesale merchant inventories fell 0.5% in April to $591.0 billion. Inventories were up 1.6% year-over-year. Census Report
U.S. News
The Wall Street Journal reports that U.S. household net worth climbed $2.3 trillion to a new peak of $94.8 trillion in the first quarter of 2017. The increase was largely driven by gains in stock valuations and home prices, which added $1.3 trillion and $500 billion, respectively. WSJ
The House of Representatives yesterday passed the Financial Choice Act, a piece of legislation aimed at rolling back many of the financial regulations put in place after the recent recession. Although the bill passed the House it is expected to receive stiff resistance in the Senate where the Republican party holds only a slim majority. WaPo