Government, Business

Fed Describes Economy as ‘Strong’ for the First Time Since 2006

House under construction A frame is raised on a house under construction near Roseville, Calif. (Rich Pedroncelli/AP)

The Federal Reserve described economic activity as “strong” in a statement Aug. 1, the first time it has done so since it called it “quite strong” in May 2006 — in the late stages of the last economic expansion, shortly before the housing market drove the economy into meltdown.

Jenna Smialek | Bloomberg News
August 2, 2018
Government, Business

US Construction Spending Fell 1.1% in June

Construction cranes in Washington, D.C. Construction cranes in Washington, D.C. (J. David Ake/AP)

WASHINGTON — Spending on U.S. construction projects fell 1.1% in June, the biggest decline in more than a year as spending on public construction dropped at the highest rate in more than five years.

Matt Ott | AP Business Writer
August 1, 2018
Government, Business

Consumer Spending Up Solid 0.4% in June

Woman with shopping bags (Marcio Jose Sanchez/AP)

WASHINGTON — Consumer spending rose by a solid 0.4% in June, while a key gauge of inflation increased at an annual pace of 2.2% for a second straight month — the strongest back-to-back gains in six years.

Martin Crutsinger | AP Economics Writer
July 31, 2018
Government, Business

US Economy Surges to 4.1% Growth Rate in 2Q

Construction project in Chicago Construction personnel work on a building project in Chicago. (Charles Rex Arbogast/AP)

WASHINGTON — The U.S. economy surged in the April-June quarter to an annual growth rate of 4.1%. That’s the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who rushed to get their products delivered ahead of retaliatory tariffs.

Martin Crutsinger | AP Economics Writer
July 27, 2018
Government, Business

NAFTA Talks to Pick Up Again as Threat of Auto Tariffs Looms

Sam Hodgson/Bloomberg News

High-level talks for a new NAFTA are picking up again this week following two months of limited negotiations that were marred by tit-for-tat tariff battles and diplomatic fallout.

Jenny Leonard Andrew Mayeda and Eric Martin | Bloomberg News
July 26, 2018
Government, Business

Trump Blames Tariff Critics for Weakening US Bargaining Power

Olivier Douliery/Abaca Press/TNS

President Donald Trump lit into critics of his tariffs, saying discord — some from Republicans in Congress — undercuts his ability to narrow the U.S. trade gaps with other countries.

Terrence Dopp | Bloomberg News
July 25, 2018
Government, Business

Mnuchin Shift to Trade Warrior Makes Him Likely G-20 Target

Johnny Louis/Sipa USA

The U.S. Treasury Department has gone from economic diplomats to trade warriors, a shift that leaves Secretary Steven Mnuchin once again exposed to broadsides from global counterparts as tensions grow ahead of a multilateral summit.

Saleha Mohsin and Theophilos Argitis | Bloomberg News
July 20, 2018
Government, Business

Trump Blasts Fed Rate Hikes, Says Strong Dollar Hurts US

Olivier Douliery/Abaca Press/TNS

President Donald Trump lashed out at China and the European Union for their weak currencies and said a stronger dollar and rising interest rates are undermining America’s “competitive edge,” taking a fresh jab at the Federal Reserve. Stocks and the dollar fell.

Saleha Mohsin and Andrew Mayeda | Bloomberg News
July 20, 2018
Government, Business

Electric Vehicles Seen Imperiling US Jobs, UAW Says

Tesla Inc.

The lonely voice to speak up in support of the Trump administration’s investigation into U.S. auto imports warned the rise of electric vehicles could be dire for American jobs.

Ryan Beene and Gabrielle Coppola | Bloomberg News
July 19, 2018
Government, Logistics

Mexico Sees Chance to Finish NAFTA by Year’s End, Official Says

Sam Hodgson/Bloomberg News

There is a fair chance that North American Free Trade Agreement negotiations can wrap up by the end of the year, Mexico’s Ambassador to the U.S., Geronimo Gutierrez, said July 17.

Rossella Brevetti | Bloomberg News
July 17, 2018