Federal Reserve Chair Jerome Powell spoke today regarding the economic outlook of the United States. Powell stated that the Fed is focused on the dual mandate goals of maximum employment and stable prices. He stated that “The U.S. economy is still in a solid position. The labor market is at or near maximum employment. Inflation has come down a great deal, but is still running a bit above our 2% objective.” The economic news is good for the United States as there has been much uncertainty over the last several months on the strength of the U.S. economic outlook.
Powell did state that while we wait for the first quarter GDP report, “data in hand so far suggest that growth has slowed in the first quarter from last year’s solid pace.” It seems that there is uncertainty with the growth of spending, specifically with consumer spending.
Uncertainty Around Tariffs/Potential China Negotiations
Chair Powell continued that “potential tariffs are expected to weigh on GDP growth.” He continued later, “Tariffs are highly likely to generate at least a temporary rise in inflation.” Unfortunately, we saw the stock market make a fast dip after his economic report. While the news was far from dire, there is still fear in the market about the uncertainty around tariffs and their impacts on the economy.
While many tariffs have been delayed, tariffs with China are currently in effect. While there have been some indicators that China is willing to negotiate tariffs with the U.S., it remains to be seen whether or not a deal will be done to bring down the massive tariffs on both sides.
Apple’s Foldable Displays
There have been many rumors lately that Apple will be releasing a new phone with a foldable display within the next several months. Apple has seemingly chosen Samsung as the supplier of the displays. Samsung has been producing foldable displays to some success for several years now.
Watch our video review of today’s finance news below!
