U.S. Economic News

July 26, 2017

U.S. Economic Indicators

New home sales edged up 0.8% to a seasonally adjusted annual pace of 610,000 in June, and are 9.1% above the June 2016 rate.  The median sales price fell to $310,800 and the inventory of new homes inched up to 5.4 months at the current sales rate. Census Bureau Report

U.S. News

According to the Wall Street Journal President Trump is considering both Gary Cohn and Janet Yellen as the next chair of the Federal Reserve. Chairwoman Yellen’s term expires early next year, and there remain three vacancies on the board of governors after Daniel Tarullo stepped down earlier this year. WSJ
The Wall Street Journal reports that the Trump administration still has not yet decided whether to impose tariffs on steel imports for “national security” reasons.  President Trump indicated that there is extensive study required before the U.S. makes a decision on the tariffs. WSJ