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.
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.
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.
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 …
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.
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.
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.