U.S. Economic News

March 13, 2018

U.S. Economic Indicators

Consumer prices rose 0.2% in February (up 2.2% on the year).  The “core” CPI, which excludes food and energy, also increased 0.2% in February and is up 1.8% on the year.  BLS Report
The NFIB Small Business Optimism Index rose 2.7 points to 107.6 in February and remains near all-time highs, as seven of the components rose, one fell, and two remained unchanged.
The share of small business owners who expect higher real sales rose three points.  NFIB Report

U.S. News

The Wall Street Journal reports that President Trump is considering Larry Kudlow to replace Gary Cohn as director of the National Economic Council. Kudlow, who has voiced opposition to recently-announced tariffs on steel and aluminum, is a veteran of the Reagan administration, and was an early supporter of President Trump’s campaign for the White House. WSJ

According to the Washington Post, Boston Fed President Eric Rosengren says that recently-announced aluminum and steel tariffs will not have a big impact on the U.S. economy and will not trigger a global trade war. Rosengren also said that recent tax cuts will boost economic growth but are unlikely to affect wages. WaPo