U.S. Economic News

August 29, 2016

U.S. Economic Indicators

Real disposable personal income increased 0.4% in July after a 0.2% rise in June, and real personal consumption expenditures (PCE) rose 0.3% in July, down from a 0.4% increase in June.  Meanwhile, the PCE price index was flat in July (up 0.8% Y/Y), and the core price index edged up 0.1% (up 1.6% Y/Y).  BEA Report

U.S. Economic News

The Wall Street Journal reports that Federal Reserve officials do not believe negative interest rates are necessary in the U.S. due to improvements in the job market and economic conditions.  Chairwoman Janet Yellen did not even mention negative interest rates in a recent speech, and Atlanta Fed President Dennis Lockhart is treating negative interest rates in other countries as “experiments” to observe from a distance.  WSJ

Cleveland Fed president Loretta Mester believes that the current case for an increase in short-term interest rates is compelling.  Mester notes that the U.S. economy has been resilient in the face of a number of shocks, though the Fed should still monitor risks from slow growth in China and the U.K.’s departure from the EU.  FT
 
According to a new report, enrollment in the insurance exchanges established by the Affordable Care Act is at less than half of CBO’s initial forecast.  
While some major insurance companies have departed from various state exchanges due to absent profitability, the share of uninsured Americans reached an all-time low of 9.1% last year. WaPo

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