U.S. Economic News

August 8, 2016

U.S. Economic News

U.S. median wages have grown at a healthy clip of 3.6% over the past year, according to data gathered by the Atlanta Fed.  Despite improvements in both personal and household income, recent polls on consumer sentiment indicate that consumers are more worried about the economy as a whole than their personal economic situation.   WSJ

According to Jerome Powell, a member of the Federal Reserve Board of Governors, there is increased risk of the U.S. economy becoming trapped in a period of low growth requiring even lower long-term interest rates than expected.  Powell advises that because inflation is below target, the Federal Reserve should be patient in raising rates, especially with global uncertainty weighing on the economy.  FT

Britain’s departure from the EU will hardly affect North America, according to a new poll of over seven hundred economic experts.  Germany’s Ifo Institute published the results, saying that EU member countries will be hit the hardest, while Russia and the Middle East will be largely unaffected as well.  Reuters

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