U.S. Economic News

January 9, 2019

U.S. News

According to the Wall Street Journal, the World Bank cut its forecasts for global growth in 2019 and 2020, as factors such as trade tensions and financial-market instability weigh on the global economy. The World Bank lowered its global growth rate by 0.1 percentage point for both years, with cuts coming from both advanced and emerging economies. WSJ

The Wall Street Journal reports that Chicago Fed President Charles Evans stated the Fed can take some time before raising rates again amid an uncertain economic outlook. According to Evans, the Fed has capacity to further analyze economic data before changing the course of monetary policy due to inflation showing few signs of rising above 2 percent. WSJ

Justin Lahart of the Wall Street Journal reports that the housing market slump could be signaling the U.S. economy’s sensitivity to rising interest rates. Despite current rates being low by historical standards, housing may have grown dependent on the low-rate environment that prevailed since 2008. WSJ

The Financial Times reports that James Bullard, President of the St. Louis Fed, warned that the U.S. risks entering a recession if the Fed continues raising rates. Bullard, who will be a voting member of the FOMC in 2019, submits that rates are at an optimal level after nine increases since December 2015. FT

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