U.S. Economic News
April 23, 2020
U.S. Economic Indicators
Initial jobless claims fell 810,000 to 4,427,000 last week. The four-week moving average rose 280,000 to 5,786,500. DOL Report
New home sales fell 15.4% in March to a seasonally adjusted annual pace of 627,000 and were down 9.5% compared to a year ago. The median sales price fell to $321,400, and the inventory of new homes increased to 6.4 months at the current sales rate. Census Bureau Report
U.S. News
Greg Ip writes for the Wall Street Journal that while this year’s federal budget deficit is set to reach a post-World War II high of 18.6% of GDP, current soaring debt levels do not necessarily imply an impending debt or inflation crisis. According to Ip, with interest rates expected to remain near zero for the foreseeable future, there is little evidence to suggest that the added debt will come at a higher economic cost. WSJ