The Bureau of Economic Analysis announced today that seasonally adjusted U.S. real GDP grew at a 3.0% annual rate in the second quarter. I have some concerns, but it looks better than many economists had been anticipating.
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Atlanta Fed nowcast incorporating advance economic indicators indicates 2.9% q/q AR, up from 2.4%. The news is in final sales to private domestic purchasers.
From IMF’s July World Economic Outlook, released today:
The Yale Budget Lab regularly (’cause… Trump) updates the stated effective tariff rate. But what’s the actual effective tariff rate in effect given all the threats, pauses, etc.? Not sure? Fortunately, Paweł Skrzypczyński is on the case:
The Conference Board today:
That question was posed in the WSJ, and poses three possible answers:
Oral arguments before the appellate court take place this week. Suppose the tariffs invoked under IEEPA are struck down, then that decision would likely be appealed to the Supreme Court (eventually). From CNBC:
The just-announced trade “deal” (what’s the enforcement mechanism?) apparently covers pharmaceuticals. Where do we get most of our pharma (by value)? From Joey Politano, the answer:
Not that I’m complaining. Continue reading