U.S. Economic News

April 13, 2018

U.S. Economic Indicators

The University of Michigan Consumer Sentiment Index fell 3.6 points to 97.8 in the preliminary April reading, but is up 0.8 point on the year. The Index of Consumer Expectations edged down 2.0 points to 86.8, while the Current Economic Conditions Index dropped 6.2 points to 115.0. Report

U.S. News

The Job Openings and Labor Turnover Survey (“JOLTS”), a closely-watched measure of labor market health, indicated there were 6.1 million job openings at the end of February, down slightly from January.  Hires fell to 5.5 million while the quits rate was unchanged at 2.2%.  BLS Report

The Wall Street Journal reports that the White House plans to escalate trade pressures on China by implementing new tariffs and limiting Chinese technology investment in the U.S. President Trump has also reportedly directed top economic advisers to explore rejoining the Trans-Pacific Partnership (“TPP”), a trade agreement that the President withdrew from as one of his first official actions. WSJ

Michael S. Derby of the Wall Street Journal writes that Boston Fed President Eric Rosengren warns that recent tax cuts and spending increases are raising the risk that fiscal policy will be unhelpful in the event of another economic downturn. Rosengren said that the federal government will have little ability to further cut taxes or expand spending given the current forecasts of massive government deficits. WSJ

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