Home|Our Services|Why Pinnacle|Our Team|Our Clients|Client Center|Contact Us

Featured News

More Articles  Printer Friendly Version

 

Wealth And Economic News This Week (2-Minute Read)

Job openings in June remained near a record high, and unemployment at a record low, while evidence of a tightening labor market grew.

The core inflation rate, which excludes volatile food and energy prices, ticked higher in July, from 2.2% to 2.3%.

The steady rise in inflation in recent months has been expected by The Federal Reserve, and interest rate policy is expected to remain the same. The Fed has said it expects to raise rates once a quarter in 2018.

According to this month's survey of 57 economists conducted from August 3 to August 7 by The Wall Street Journal, the average growth rate estimated for 2018 increased to 3%. That was up from projections of 2.9% last month and 2.4% a year ago. The average growth rate for 2019 was 2.4%. By 2020, the average forecaster projects economic growth will slow to 1.8%, down from estimates earlier this year of 2%.

The Federal Reserve's economic forecast as well as the forecast from the non-partisan Congressional Budget Office and private economists surveyed monthly in The Wall Street Journal are all in agreement: the long-term rate of growth for GDP is about 2%.

However, the Trump administration's forecast for GDP growth in February, the most recent data available, is much more optimistic due to expectations about supply-side economics. Most economists remain skeptical about the boost in growth that will come from recent tax cuts. While the predominant view of economists is not as exciting, it is sustainable. The 110-month long expansion is, thus, poised to become the longest expansion in post-War history in July 2019.


This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.


Email this article to a friend


Index
HSA Or FSA: Which Is Better For Medical Savings?
A Last-Minute Reminder To Give Wisely And Charitably
Year-End 2018 Taxes And Your Home Office Deductions
Key Facts About Tariffs, Interest Rates, And Economic Strength
Strategic Considerations In Funding College
Fed Chair Extends A Dovish Hand, Lifting Stocks
S&P 500 Slid Last Week, As Earnings Growth Is Recalibrated
Last Chance For Pre-Retired Professionals & Biz Owners
A New Risk To Converting To A Roth IRA
Amid A Swirl Of Controversy, Fed Policy Remained Stable
A Reminder About Harvesting 2018 Tax Losses
More Good Economic News On Friday
Is Amazon Keeping The Inflation Rate Low?
Analyzing The Market Correction
This Week In Stocks And The Economy
Analyzing The Risk Of Stocks After The 6.9% Drop

This article was written by a professional financial journalist for Pinnacle Financial Group, LLC and is not intended as legal or investment advice.

©2018 Advisor Products Inc. All Rights Reserved.
© 2018 Pinnacle Financial Group, LLC | 823 Burlington Avenue, Western Springs, IL 60558 | All rights reserved
P: (708) 246-6262 | F: (708) 246-6288 jeanne@mypinnaclefinancial.com |
Disclosure | Privacy Policy | Contact Us

Securities offered through Purshe Kaplan Sterling Investments, member FINRA/SIPC, Headquartered at 18 Corporate Woods Blvd, Albany, NY, 12211.
NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL.  NOT INSURED BY ANY STATE OR FEDERAL AGENCY.