Wealth Management News & Resources
June 25, 2018
TARIFF TALK INTENSIFIES
Major economic powers proposed additional import taxes last week, as investors wondered if a global trade war was now underway. Monday evening, President Trump stated that he had instructed U.S. Trade Representative Robert Lighthizer to identify another $200 billion of Chinese products to subject to a new 10% import duty.
June 18, 2018
FED, NEW TARIFFS GET WALL STREET’S ATTENTION
As expected, the Federal Reserve adjusted the target range on the federal funds rate to 1.75%-2.00% on Wednesday. The central bank’s latest dot-plot projection, however, raised some eyebrows: it showed four interest rate increases planned for 2018 instead of three.
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June 11, 2018
100 MONTHS OF GROWTH FOR SERVICE BUSINESSES
The Institute for Supply Management announced this milestone as it revealed a 58.6 May reading for its non-manufacturing purchasing manager index. That excellent reading was well north of the 56.8 mark seen in April.
June 4, 2018
HIRING, HOUSEHOLD SPENDING STRENGTHEN
Net job growth surprised to the upside in May: companies added 223,000 more workers than they laid off or fired. At 3.8%, the unemployment rate is now where the Federal Reserve thought it would be at the end of 2018, and it is also at its lowest level since April 2000.
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