WASHINGTON: Fears President Donald Trump's trade wars will harm the economy are pervasive but for now America keeps chugging along with steady job ...
WASHINGTON: Fears President Donald Trump's trade wars will harm the economy are pervasive but for now America keeps chugging along with steady job creation and tame inflation, the Federal Reserve reported on Wednesday .
Fed Chair Jerome Powell has cited a weakening global economy as an important reason some central bankers see a stronger case for easing monetary policy - even with unemployment near 50-year lows and Wall Street hovering at records. The exceptionally tight supply of workers has continued to drive up wages - with some business contacts forced to resort to"significant increases" for entry level workers.And some employers worried about their ability to secure visas for foreign-born employees, which also could hurt job growth.
Economic growth was flat in the Cleveland and Chicago Fed regions and activity slowed in the New York area. But there were broad gains in tourism, which benefitted the Atlanta and Richmond areas in particular.
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