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Trump Speech in Focus | ISM Non-Manufacturing Expected to Decline
Published February 5, 2019
Trump will deliver the State of the Union address Tuesday at one of the most
vulnerable moments of his presidency, challenging Democrats to approve funding
for his long-sought border wall but stopping short of declaring a national
emergency over it, at least for now.
non-manufacturing data is scheduled for release today. The consensus forecast
for January stands at 57.2, down from previous month’s reading of 57.6.
Typically, the figure is released ahead of the NFP data but it’s late this
month due to Christmas and New Year holidays.
Federal Reserve President Loretta J. Mester said that the Federal Reserve’s new
wait-and-see approach to monetary policy is appropriate for now. However,
central bank may need to raise interest rates a bit further if the economy does
as well as she expects.
economic adviser Kevin Hassett said the US economy will post strong growth in
the first quarter, despite negative effects from the extended government
shutdown amid a strong labor market, more capital investment and rising
productivity. He also stated President Trump still hoped to make a US-China
trade deal by the March 1 deadline.