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July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
Baystreet.ca - Futures Slip on Federal Election Day
Futures for Canada's main stock index were marginally lower on Monday, with investors staying on the sidelines as the country headed into a general election in the backdrop of U.S. President Donald Trump's trade war. The TSX Composite Index lost ...
Baystreet.ca - What is Next After Nasdaq's 6.4% Weekly Gain?
Stock speculators continued to bet that the White House would back down or even remove most of its tariffs. The week before, President Trump issued harsh words against Fed Chair Jerome Powell. Last week, however, Trump conceded that he would not fire ...
Crisis and Leviathan: The Federal Government in the Civil War - Econlib
When the Civil War broke out in 1861, the federal government, like any government in any situation, had three sources of money: taxing, borrowing, or printing. Taxing The federal government was much more successful than its Confederate counterpart in funding the war via taxation. In August 1861, tariffs were hiked and the first federal income […]
The federal minimum wage is officially a poverty wage in 2025 | Economic Policy Institute
In 2025, the federal minimum wage is officially a “poverty wage.” The annual earnings of a single adult working full-time, year-round at $7.25 an hour now fall below the poverty threshold of $15,650 (established by the Department of Health and Human Services guidelines). The limitations of how the federal government calculates poverty understate how far…
Stagflation fears rise as US manufacturing slumps – Commerzbank
The Dallas Fed's Manufacturing Activity Indicator delivered more bad news yesterday. At roughly -36, it was almost 19 points worse than expected. New orders plummeted significantly, while prices paid rose significantly. No wonder that the US dollar came under pressure again yesterday.