Latest Mark Zandi News

A heightened US-China financial war imperils global economy

Aug. 6, 2019 3:50 PM EDT

WASHINGTON (AP) — Just what the fragile global economy didn't need: An unpredictable escalation in President Donald Trump's trade war with China, one that spreads the conflict to currency markets, threatens to involve other countries and raises the risk of a global recession. At a time when growth in the...

Fed chief struggles to manage a wild card: Trump trade wars

Aug. 1, 2019 3:12 PM EDT

WASHINGTON (AP) — After the Federal Reserve cut interest rates Wednesday for the first time in a decade, Chairman Jerome Powell made a striking acknowledgement: In the Trump era, the Fed faces a steep learning curve. The Fed is supposed to set interest rates based on gauges of inflation and employment. But...

Survey: Businesses added 156,000 jobs in July

Jul. 31, 2019 9:38 AM EDT

WASHINGTON (AP) — U.S. companies added a healthy 156,000 jobs in July with larger firms accounted for much of the gains, a private survey found. Payroll processor ADP said Wednesday that there was solid hiring in the construction, transportation, health care and leisure and hospitality sectors. But smaller...

Fed set to cut rates for first time in decade. Is it a risk?

Jul. 29, 2019 1:22 PM EDT

WASHINGTON (AP) — There's little dispute that the Federal Reserve this week will do something it hasn't done since 2008, when the U.S. economy was gripped by the Great Recession: Cut its benchmark interest rate. This time, by contrast, the economy is solid by most measures. Consumers are spending....

US economy slowed to 2.1% growth rate in second quarter

Jul. 26, 2019 5:56 PM EDT

WASHINGTON (AP) — The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending. The gross domestic product, the economy's total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department...

US adds solid 224,000 jobs, making Fed rate cut less certain

Jul. 5, 2019 4:23 PM EDT

WASHINGTON (AP) — U.S. employers sharply stepped up their hiring in June, adding a robust 224,000 jobs, an indication of the economy's durability after more than a decade of expansion. The strength of the jobs report the government issued Friday could complicate a decision for the Federal Reserve late this...

Survey: Modest job gains in June hint at slowing economy

Jul. 3, 2019 9:00 AM EDT

WASHINGTON (AP) — U.S. companies added just 102,000 jobs in June, a possible turning point that could signal a coming increase in the unemployment rate. Payroll processor ADP said Wednesday that the meager gains — after just 41,000 jobs were added in May — indicate a slowdown in the economy....

US economy grew at solid 3.1% rate in first quarter

Jun. 27, 2019 9:37 PM EDT

WASHINGTON (AP) — The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the United States and China. The gain in the gross...

Trump says he 'made' Fed Chairman Powell

Jun. 26, 2019 4:36 PM EDT

WASHINGTON (AP) — The stock market has taken in stride the almost daily drumbeat of President Donald Trump's attacks on Federal Reserve Chair Jay Powell, caring more about how the two men tackle their respective jobs than how they handle each other. Trump is unhappy with Powell and the Fed for raising...