Dep’t of Corrections
August 21, 2019 8:54 AM Subscribe
The U.S. federal government issued revisions to some key economic indicators this morning: First, the Bureau of Labor Statistics revised its job growth figures for the past year downward by about 500,000 jobs, the largest revision since 2009. Second, the Congressional Budget Office adjusted its projection of the budget deficit in 2019 upwards by $63 billion, for a total of $960 billion, while noting that interest rates remaining lower than expected over the next decade could make up some of the difference. Third, the CBO also estimated that Trump’s planned tariffs could render U.S. GDP 0.3% lower than projected in 2019.
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