Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Zorro

(15,948 posts)
Fri Sep 6, 2019, 12:50 PM Sep 2019

Fed says Trump's trade fight is cutting U.S. economic growth

President Trump's trade war is crimping economic growth to the 2 percent pace he assailed as unacceptable in the Obama years.

That's the implication of new research from a group of Federal Reserve economists. They just released a first-of-its-kind study by the central bank to attempt to quantify the impact of the trade fight on GDP.

The researchers examined hundreds of corporate earnings-call transcripts and news stories to assess rising uncertainty spawned by the trade war and arrived at an estimated tab for it. The trade war, they estimate, will shave 1 percent off of growth through the early part of 2020.

That may not seem huge, but it's the difference between where growth has been tracking lately — bumping along at the respectable but unimpressive 2 percent level Trump blasted under President Barack Obama — and the 3 percent clip that Trump promised to deliver at a minimum. New data show further economic weakening, with the Atlanta Fed trimming its third-quarter GDP forecast to an annualized rate of just 1.5 percent.

https://www.washingtonpost.com/news/powerpost/paloma/the-finance-202/2019/09/06/the-finance-202-fed-says-trump-s-trade-fight-is-cutting-u-s-economic-growth/5d718da988e0fa7bb93a89a6/

2 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Fed says Trump's trade fight is cutting U.S. economic growth (Original Post) Zorro Sep 2019 OP
No sh*t, sherlock! elleng Sep 2019 #1
Aw, what do THEY know? MyOwnPeace Sep 2019 #2

MyOwnPeace

(17,043 posts)
2. Aw, what do THEY know?
Fri Sep 6, 2019, 01:01 PM
Sep 2019

He's the smartiest, bigliest brain in the world and trade wars are easy to win!

Latest Discussions»Editorials & Other Articles»Fed says Trump's trade fi...