U.S. Economic News
May 25, 2017
U.S. Economic Indicators
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit increased 3.8% in April. Meanwhile, wholesale inventories and retail inventories both fell 0.3%. Census Bureau Report
Initial jobless claims increased 1,000 to 234,000 last week. The four-week moving average fell 5,750 to 235,250, the lowest mark for the series since April 1973. DOL Report
U.S. News
The Wall Street Journal reports that Treasury Secretary Steven Mnuchin has asked Congress to raise the federal debt limit before leaving for summer recess. While the Treasury Department is already employing cash-saving measures to try and control government debt, which hit Congress’ self-imposed limit earlier this year, analysts suggest such measures would only suffice until the early fall. WSJ
Federal Reserve officials have signaled that a rate hike may be appropriate at their June meeting. While the outlook for interest rate increases is relatively clear through 2017, much uncertainty remains regarding the timing and magnitude of the Fed’s coming balance sheet reduction. WSJ