By CRU Economist Anissa Chabib and Principal Economist Alex Tuckett The Fed’s Jerome Powell has continued to strike a dovish tone, emphasizing that the Fed will continue to support the economy until “substantial progress has been made.” However, he stopped short of any attempt to directly push back against recent rises in bond yields. Furthermore, […]
By CRU Principal Economist Alex Tuckett and Economist Anissa Chabib, from CRU’s Steel Monitor It now seems clear that Joe Biden will become U.S. president in January. However, it is likely that the Republicans will maintain their Senate majority. This will significantly limit Biden’s ability to implement his economic policy agenda. In this insight, we […]
By CRU Economist Anissa Chabib, from CRU’s Global Steel Trade Service 2020 has seen an unusual recession that was brought on by a pandemic. To match this, the shape of the recovery is likely to be equally unusual. The U.S. recovery is starting to lose momentum, with more slowing to come in 2021. Large uncertainties lie […]
By CRU Economist Anissa Chabib from CRU’s Global Economic Outlook The estimate of U.S. GDP for Q2 2020 shows a decline of 32.9 percent q/q. This is the biggest drop on record, but slightly better than expected. Overall, the surprisingly good data on consumption, sentiment and production released in July is due to the reopening […]
By CRU Economist Anissa Chabib, from CRU’s Economic Outlook On May 8, the U.S. Bureau of Labor Statistics released the official U.S. unemployment data for April. Unemployment increased to 14.7 percent from 4.4 percent in March. This is the highest rate and the largest month-on-month increase in the history of the series, which was created […]