Economy

Five ways the Trump economy is off to a record-setting pace

Cash has been flowing fast and free in the nascent Donald Trumppresidency, even if some of the economic data points haven’t caught up yet. Several measures indicate record activity in the days since the Republican captured the nation’s highest office in November. Mergers and acquisitions have been in a frenzy, companies have been rushing to market with massive amounts of ... Read More »

Investors Underestimating the Economy and the Fed

This economic expansion has long been derided as the weakest, most disappointing ever, a characterization that is both fair and highly misleading. The expansion is weak compared with prior expansions, but it is also quite solid relative to how fast the economy is capable of growing. Understanding that relationship is the key to understanding why interest rates are likely to ... Read More »

One chart that shows the weird, vexing mystery of this economy

As the stock market pushes toward fresh records, the biggest debate on Wall Street going on right now is whether to believe the “soft” data or the “hard” data about the economy. The soft data is reflecting confidence in President Trump’s economic policy and goosing the stock market, while the hard data, things like actual sales, is struggling. Here is ... Read More »

UK firms struggling to recruit staff

UK firms want to recruit more workers but cannot find or afford the right staff, a survey has found. The British Chambers of Commerce (BCC) spoke to 7,300 businesses in the manufacturing and services sectors, and found the percentage seeking to hire had grown by up to 9% in the last quarter. But most also experienced “high levels of recruitment ... Read More »

UK firms struggling to recruit staff

UK firms want to recruit more workers but cannot find or afford the right staff, a survey has found. The British Chambers of Commerce (BCC) spoke to 7,300 businesses in the manufacturing and services sectors, and found the percentage seeking to hire had grown by up to 9% in the last quarter. But most also experienced “high levels of recruitment ... Read More »

What Will The Trump Economy Look Like?

When the economy generated over 200,000 new jobs in January and again in February, Donald Trump suddenly decided that he respected the government statistical agencies. But when the economy produced only 98,000 jobs in March, the Administration was uncharacteristically quiet. That same report revised the earlier numbers downward by about 38,000 jobs. Compared with a year earlier, job creation in ... Read More »

The Economy May Be Stuck in a Near-Zero World

When the Federal Reserve lowered interest rates to close to zero during the financial crisis, it was an extraordinary move. The central bank had hit the limits of conventional monetary policy, leaving the recovery to sputter along with less help than it needed. Now, with that crisis at last behind us, the Fed has begun raising interest rates, and it ... Read More »

‘Boring’ GDP report a byproduct of lackluster US economy

This week, the Bureau of Economic Analysis upgraded its estimate of economic growth for the fourth quarter of 2016 from 1.9 percent to 2.1 percent. Even for economists, it’s hard to get excited about economic reports. But economic growth over the past decade is even more boring than usual. And these latest figures don’t add any pep to the subject. ... Read More »

ACE Report: Economy is ‘inching forward’ this year

The seven counties of Northeast Ohio added 943 jobs in February, a modest number, but the second straight month of job increases, according to the Ahola Crain’s Employment (ACE) Report. Year-over-year, payrolls were up by 5,422 jobs on a seasonally adjusted basis, a 0.46% increase. February payrolls for the Cleveland Akron Metropolitan Area equaled 1,180,415 on a seasonally adjusted basis. ... Read More »

By shifting perceptions, Trump’s already boosting the economy

Perceptions matter. People make decisions, even life-altering decisions, based on what they perceive as likely to happen. To the extent that public policy affects such decisions, the perception of likely policy change can affect behavior even before the change happens. Something like that seems to be happening in America — and around the world. In the two months since President ... Read More »