U.S. Economic News

April 3, 2018

 

U.S. News

According to Aaron Back of the Wall Street Journal, despite a strong economy and record-high consumer confidence, consumer spending has been slowing because banks are tightening lending standards. Back points to the Fed Senior Loan Officer Survey as evidence, which shows a net increase in banks reporting tightening lending standards in four of the past five quarters, a move that has happened as the Federal Reserve is raising interest rates and thereby increasing borrowing costs. WSJ

The Wall Street Journal reports that automakers view the Trump administration’s move to relax fuel economy standards as a boon due to high demand for larger, less efficient vehicles. Automakers have long campaigned against the industry-wide target of 50 miles per gallon by 2025, which they say will cut too far into profits because consumers increasingly want bigger cars. WSJ

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