A nonpartisan trade group representing farmers, ranchers, manufacturers, and various labor groups reported on Tuesday that, according to its economic model, Trump’s tariffs on steel “are creating US jobs and stimulating growth,” the opposite of what many mainstream economists predicted. Those new jobs might just be needed if President Trump fails in getting China to change its behavior.
Charles Evans of the Fed’s Federal Open Market Committee says interest rates are too low and need to go higher.
Despite the volatility on Wall Street, the U.S. economy continues its remarkable record-setting recovery from the Great Recession and the Obama administration.
Even Kevin Hassett, chairman of President Trump’s Council of Economic Advisors, fails to grasp the dynamics of the new Trump economy: Five percent growth is not only achievable but increasingly likely.
At the behest of the public transportation and taxi dirvers’ unions, New York City Mayor Bill de Blasio signed a bill into law that regulates ride-sharing companies such as Uber and Lyft. It will make customers pay more and wait longer for rides.
State employee pensions, negotiated by greedy public employee unions and rubber-stamped by short-sighted politicians have left several states teetering on the edge of financial insolvency and there is no solution in sight.
Thanks to increasing production in the Permian Basin in West Texas, Texas is set to pass Iraq and Iran to become the world’s third-largest producer of oil by next year.
Though jobs are plentiful, some economists are predicting a downturn, which recalls the truism that economic forecasting makes weather forecasting look good.