The U.S. Economy – what caught my eye this week: The unemployment rate falls below nine percent in August, high budget deficits, and how did U.S. households use the stimulus payments?

The U.S. unemployment rate falls to 8.4 percent:

https://www.bls.gov/news.release/empsit.nr0.htm

The Congressional Budget Office currently expects a deficit of 16 percent of GDP this year:

https://www.cbo.gov/publication/56517

US-China phase one tracker: China’s purchases of U.S. goods. What is the future of this trade deal?:

https://www.piie.com/research/piie-charts/us-china-phase-one-tracker-chinas-purchases-us-goods

According to the so-called “Beige Book” of the Fed, economic activity in the United States is recovering, but remains well below pre-pandemic levels:

https://www.federalreserve.gov/monetarypolicy/beige-book-default.htm

How did U.S. households use the stimulus payments?

https://www.bls.gov/opub/btn/volume-9/mobile/receipt-and-use-of-stimulus-payments-in-the-time-of-the-covid-19-pandemic.htm

Consumer Sentiment slightly increased in August according to the survey of consumers done at the University of Michigan:

http://www.sca.isr.umich.edu

Some days earlier in August, consumer confidence measured by The Conference Board decreased:

https://conference-board.org/data/consumerconfidence.cfm

“Unpredictable work hours and volatile incomes are long-term risks for American workers”. Interesting!

Speech by Fed Vice Chair Richard H. Clarida on “The Federal Reserve’s New Monetary Policy Framework: A Robust Evolution”

Here is the text:

https://www.federalreserve.gov/newsevents/speech/clarida20200831a.htm

And here is the video:

https://www.piie.com/events/fed-vice-chair-richard-h-clarida-us-monetary-policy

Processing…
Success! You're on the list.

Or contact me at: info@eagle-economist.com

If you would like to read all my premium content, you can subscribe for 5 US dollars per month (or the equivalent amount in your currency) by subscribing below. You can unsubscribe at any time:

Sometimes, my readers would like to make a donation. If you decide to do so, thank you very much.

$1.00

Processing…
Success! You're on the list.
%d bloggers like this: