The upbeat durable goods orders for December did not help. US GDP was left unchanged at 1.9%. Consumer spending is up to 3% and the PCE and the deflator are moving up, so there are some silver linings. The goods trade deficit widens to $69 billion. The US dollar is falling with EUR/USD topping 1.06. [...]
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Ahead of his highly anticipated speech in front of a joint session of Congress, President Donald Trump gave an interview in his friendly media outlet, Fox News. Trump talks about income coming from a “revved up” economy that will pay for his planned defense expenditure. Yesterday he talked about having to make cuts in order to pay [...]
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Speaking to the parliamentary committee last week at the inflation report hearings, the Bank of England Governor, Mark Carney defended the central bank’s monetary policy. He said that the central bank would not hesitate to change monetary policy if it was appropriate. The comments suggested that the central bank continues to remain on the sidelines [...]
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