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The Federal Reserve is widely expected to cut interest rates by a quarter percentage point. That could give a lift to the stock market but may not do much to help the economy amid the trade war.
The Labor Department says U.S. employers added 130,000 jobs in August, fewer than private analysts had expected. The unemployment rate was unchanged at 3.7%.
The Trump administration pushed back hard against warnings of an economic slowdown. But the president is also calling on the Federal Reserve to cut interest rates again to help boost growth.
The Trump administration is postponing some tariffs on Chinese imports set to take effect on Sept.1. Tariffs on laptops, cellphones, some clothing and other items are now set to begin Dec. 15.
President Trump had been expected to nominate Tomas Philipson as permanent chair of his Council of Economic Advisers. Philipson, an expert on health economics, succeeds Kevin Hassett.
The Federal Reserve chairman is testifying before Congress this week about challenges the economy faces. Stocks rallied in anticipation the central bank will lower interest rates later this month.
Job growth rebounded strongly last month as employers added 224,000 jobs. That followed a disappointing May when employers added just 72,000 jobs.
There’s an unusual air of suspense surrounding the Federal Reserve’s policy meeting, with the possibility that the central bank could cut rates for the first time in nearly 11 years.
Under pressure from Florida lawmakers, the Trump administration is taking steps to protect domestic tomato growers from Mexican competition.
The Commerce Department says the U.S. economy picked up steam in the first three months of the year. GDP grew at an annual rate of 3.2% in the first quarter, up from 2.2% at the end of 2018,