American economic surge will probably speed down in 2019

American economic surge will probably speed down in 2019

Compared to last year, the American economy is going to surge more slowly this year. That’s what Richmond Federal Reserve President Thomas Barkin told on Friday. The statesman added that he’s concerned about such economic risks as trade policy as well as financial market volatility.

The statesman foresaw surge would resume in 2019, although at a somewhat slower tempo. That’s what the statesman revealed in a prepared statement for a bankers luncheon in Baltimore.

The statesman, who doesn’t have a vote on monetary policy in 2019, although takes part in the US major financial institution’s debates, told that the American economy was coming off a firm year, with unemployment sticking with a 49-year minimum and inflation on target.

Barkin told that as America enters new year, he’s overwhelmed with concerns. For instance, some of his worries have to do with environment, powered by politics or trade. Other concerns turn out to be market driven due to the fact that volatility has gone up and the yield curve has shrunk.

A deceleration in productivity surge actually drops a hint that economic surge will most probably average 1.9% over the long run, which appears to be far slower than now, the statesman pointed out.

As a matter of fact, the American economy speeded down in the third quarter, although the tempo appeared to be firm enough to keep surge on track to hit the current presidential administration's 3% objective this year. However, early in the fourth quarter, momentum happens to have moderated further.

Meanwhile, on Friday, Fed Chair Jerome Powell tried to soothe market fears that America’s major financial institution was neglecting signs of an economic deceleration, telling that he was aware of the risks and would be flexible and patient in policy decisions in 2019.


Key Forex Event: US Inflation Rate
Key Forex Event: US Inflation Rate

The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.

NFP forecasts of 8 major banks 
NFP forecasts of 8 major banks 

The US will reveal Non-farm payrolls today at 15:30 GMT+3. Here are the forecasts of 8 major banks regarding the upcoming NFP report. The common forecast (market consensus) is 500K. What’s yours?

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The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

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