U.S. Economic News
July 27, 2020
U.S. Economic Indicators
New orders of manufactured durable goods rose 7.3% in June after rising 15.1% (revised) in May. Excluding transportation, new orders rose 3.3% last month after rising 3.6% the month before. Census Bureau Report
U.S. News
According to the Wall Street Journal, Federal Reserve officials warn that the economic recovery could be impeded by low consumer confidence, extended joblessness, and business failures unless the public health response to the coronavirus improves. The FOMC is not expected to announce new stimulus measures at this week’s meetings, instead focusing on how to provide more support for the recovery once the economic outlook becomes more certain. WSJ
The Washington Post reports that the coronavirus pandemic has exacerbated inequality in the U.S. housing market, as wealthier Americans take advantage of low mortgage rates to buy new homes while millions of renters face eviction. Homeowners have also taken advantage of attractive refinancing options to save money, while renters are rapidly losing pandemic lifelines including a federal eviction moratorium and expanded unemployment benefits. WaPo