The IBD/TIPP Economic Optimism Index slid 3.8 points to 52.6 in early December, matching April’s 2018 low. Even as wage growth has accelerated to a nine-year high, the six-month economic outlook sank to its lowest since just before President Donald Trump won the 2016 election. Midterm election results and recent weakness in the Dow Jones industrial average and overall stock market likely weighed on sentiment.
Economic
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Powell Lauds Economy as Fed Nudges Up Interest-Rate Hike Path
Gold Silver Reports (GSR) – Powell Lauds Economy as Fed Nudges Up Interest-Rate Hike Path — Federal Reserve officials raised interest rates for the second time this year and upgraded their forecast to four total increases in 2018, as unemployment falls and inflation overshoots their target faster than previously projected.
Economists write letter to the wrong address
Gold Silver Reports (GSR) – Economists write letter to the wrong address – As of last count, 1,157 economists had sent a letter to US President Donald Trump warning him not to repeat the mistake of the Smoot-Hawley Tariff Act of the 1930s. The one-page letter was a copy-and-paste job from the letter that economists sent to the then president in 1930 because the fundamental principle, according to them, has remained unchanged since then.
India’s Wholesale Inflation Hits Eight-Month Low In March
Gold Silver Reports (GSR) – India’s Wholesale Inflation Hits Eight-Month Low In March – India’s wholesale price inflation eased to an eight-month low in March on the back of softer rise food prices — Inflation measured by the Wholesale Price Index stood at 2.47 percent last month, compared with 2.48 percent in …
Wall Street Economists See Global Growth Cresting Not Collapsing
Gold Silver Reports (GSR) – Wall Street Economists See Global Growth Cresting Not Collapsing – Despite the soft start to the year and ongoing trade tensions, economists on Wall Street and beyond are sticking to forecasts for another solid economic expansion in 2018 while acknowledging the risks of slippage have mounted.
China, Japan Vow Cooperation to Get North Korea to Quit Nukes
Gold Silver Reports (GSR) – China, Japan Vow Cooperation to Get North Korea to Quit Nukes — “To get North Korea to abandon its nuclear weapons and missiles in a complete, irreversible and verifiable way, we agreed we must enforce the relevant Security Council resolutions and work closely together,” Japanese Foreign Minister Taro Kono told reporters Sunday in Tokyo after a meeting with Chinese counterpart Wang Yi.
India Forex Reserves At Record High Of $424.864 Billion
Gold Silver Reports (GSR) – In the previous week, the reserves had surged by $1.828 billion to $424.366 billion. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating. In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $657.7 million to $399.776 billion.
Bank of Korea Holds Interest Rate as Inflation Trails Target
Gold Silver Reports (GSR) – Bank of Korea Holds Interest Rate as Inflation Trails Target – The economy remains on track to grow 3 percent this year but inflation is projected to register 1.6 percent, slightly below the central bank’s previous forecast, Governor Lee Ju-yeol said during a news conference.
Market Players will be Watching out for Inflation and Industrial Production
Gold Silver Reports (GSR) – Market players will be watching out for inflation and industrial production data today which due at about 5:30 pm. Retail inflation is seen at 4.10 percent in March versus 4.44 percent in February, while February factory output data is expected at 6.8 percent versus 7.5 percent in January.
China’s Factory Inflation Slows as Consumer Price Gains Ease
Gold Silver Reports (GSR) – China’s Factory Inflation Slows as Consumer Price Gains Ease – The producer price index rose 3.1 percent in March from a year earlier, compared with the projected 3.3 percent rise and 3.7 percent in February. The consumer price index climbed 2.1 percent, the statistics bureau said Wednesday, versus a forecast of 2.6 percent and 2.9 percent in February.