U.S. Economic News

December 7, 2020

U.S. News

Bloomberg reports that while U.S. inflation may briefly run above the Fed’s 2% target next year, continued slack in the labor market mean any jump in prices is unlikely to be sustained. Economic forecasters surveyed by Bloomberg expect inflation to temporarily rise above 2% in the second quarter before easing in the latter half of the year. Bloomberg

According to the Wall Street Journal, China’s trade surplus reached a record high in November amid global demand for pandemic-related consumer goods like PPE and work-from-home electronics. China’s imports of all U.S. products, meanwhile, were up 33% year-over-year last month, though purchases of American farm and energy products remain far below levels promised in the trade deal reached earlier this year. WSJ