Economy

GREAT AGAIN: Private Payrolls SKYROCKET in July, SMASH Expectations

posted by Hannity Staff - 8.01.18

The US economy continued to roar to life under President Trump and the Republican-controlled Congress in July, with new data showing private payrolls smashed expectations and posted major gains as the nation nears full employment.

According to CNBC, private payroll positions increased by 219,000 last month, far surpassing economist predictions of 185,000.

“Private payrolls in the U.S. increased by more than expected last month as companies get a boost from lower corporate taxes, ADP and Moody’s Analytics said Wednesday,” writes CNBC. “July’s job gains were the best since February, when 241,000 jobs were added. Jobs growth for the previous month was also revised up to 181,000 from 177,000.”

“The job market is booming, impacted by the deficit-financed tax cuts and increases in government spending,” said a leading economist at Moody’s Analytics. “Tariffs have yet to materially impact jobs, but the multinational companies shed jobs last month, signaling the threat.”

Read the full report here.

GREAT AGAIN: Fed Chairman Says Economy 'GROWING STRONGER' in 2018

posted by Hannity Staff - 7.17.18

The Federal Reserve Chairman confirmed Tuesday that the United States economy was “growing stronger” than expected, saying an interest rate hike may be likely in the coming weeks should the recovery continue to expand.

According to CNBC, Chairman Jerome Powell signaled he was considering raising the interest rate for the second time in recent months, saying “Overall, we see the risk of the economy unexpectedly weakening as roughly balanced with the possibility of the economy growing faster than we currently anticipate.”

“The unemployment rate is low and expected to fall further. Americans who want jobs have a good chance of finding them,” he added.

The strong data throws more cold-water on the media’s over-hyped “blue wave” predicted for this fall, with House Minority Leader Nancy Pelosi threatening to repeal the widely-popular GOP-sponsored tax cuts

Read the full report at CNBC.

GREAT AGAIN: GDP to Hit 5.3% THIS SPRING, Reach 15 YEAR HIGH

posted by Hannity Staff - 6.27.18

A handful of Wall Street insiders and leading economists are revising their GDP predictions upwards for spring 2019; saying the US economy may grow by an astounding 5% in the coming months.

According to Market Watch, forecasts for next year are being revised after a string of healthy tax returns, repatriated currency, and record low unemployment in the second quarter of 2018; possibly reaching a 15 year high this spring.

“Most notably, Macroeconomic Advisers raised its forecast to 5.3% from 4.5% for gross domestic product, the official scorecard for the U.S. economy. The firm’s forecast is one of the most detailed on Wall Street,” writes Market Watch.

The last time the Gross Domestic Product smashed the 5% mark was in 2003.

Read the full report here.

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