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If economy is great why is fed going to drop rate?
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real-human



Joined: 02 Jul 2011
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PostPosted: Wed Oct 02, 2019 9:21 am    Post subject: Reply with quote

https://www.dailykos.com/stories/2019/10/1/1889365/-Key-manufacturing-index-drops-to-lowest-level-since-Great-Recession-stocks-swoon?utm_campaign=trending

Key manufacturing index drops to lowest level since Great Recession, stocks swoon


Quote:
The Dow fell nearly 350 points Monday, as stocks finished sharply lower after a key economic report showed that American factory activity fell for a second month in a row in September.


The ISM manufacturing index dropped to 47.8 in September, compared with the Refinitiv consensus forecast of 50.1. A level above 50 marks growth. That was the lowest reading since June 2009, the last month of the recession, according to the Institute of Supply Management, which puts out the report.

The manufacturing sector shrank for the first time in three years in August, according to the ISM index, which measures month-over-month activity, as the effects of the trade war and slowing global demand set in.

Manufacturers cited the US-China trade war as weighing on demand and making materials more expensive, according to the ISM.

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real-human



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PostPosted: Wed Oct 02, 2019 8:03 pm    Post subject: Reply with quote

https://news.yahoo.com/deere-lay-off-163-manufacturing-200400352.html

Deere to lay off 163 U.S. workers as trade war dents equipment demand

Quote:
CHICAGO (Reuters) - Deere & Co <DE.N> on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand.

The layoffs come weeks after the company said it would reduce production by 20% at its facilities in Illinois and Iowa in the second of half of the year to keep inventory in line with retail demand.

The world's largest farm equipment maker is reeling from the fallout of the U.S.-China trade war that has slowed purchases from farmers.

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real-human



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PostPosted: Sun Oct 13, 2019 2:43 pm    Post subject: Reply with quote

can't we just have another handout the uber rich... it has made america so great...

Manufacturing slump undercuts Trump claims of economic strength

Sher Watts Spooner for Daily Kos
Community
Sunday October 13, 2019 · 11:00 AM MPDT
Recommend 53 Share Tweet39 Comments 39 new

Quote:
The massive GM assembly plant in Lordstown, Ohio, shut down in March after 52 years, leaving thousands of autoworkers unemployed.
Of all the ridiculous arguments Donald Trump makes for his reelection, perhaps none is repeated more often than his claim that the U.S. economy is “the greatest economy in the history of our country.”

The claim is gibberish, of course, which is why the claim (or some variation thereof) continually rates three out of four Pinocchios from The Washington Post’s Fact Checker. And one of the reasons the claim is wrong is that the nation’s manufacturing sector is in a downward spiral.

The Institute of Supply Management's manufacturing index dropped to 47.8 in September, down from 49.1 the previous month, the lowest number in more than a decade. Any number above 50 indicates manufacturing expansion. A number below 50 indicates that manufacturing is in recession territory.

Companies are blaming the slowdown on Trump’s tariffs on Chinese goods, which have escalated into a full-blown trade war with China as that country retaliates with tariffs of its own. According to The Washington Post, “Manufacturing fell into a technical recession in the first half of the year, and the latest ISM data indicates the situation appears to be getting worse. Concerns are rising that the contraction in manufacturing could spill over into the rest of the U.S. economy.”

Even worse than a technical number from the index, numbers for manufacturing employment, new orders, backlogs, and production all fell in the Institute of Supply Management report. Because of Trump’s tariffs, parts cost more, so companies are ordering fewer of them, which also affects suppliers. In some cases, manufacturers worried about the future are laying off employees. Bureau of Labor Statistics data show that the manufacturing unemployment rate went up six-tenths of a percentage point just since June, and the manufacturing sector lost 2,000 jobs in September. The official September numbers from the Bureau of Labor Statistics showed that U.S. employers added only 136,000 jobs.

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real-human



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PostPosted: Mon Oct 28, 2019 12:08 am    Post subject: Reply with quote

https://www.marketwatch.com/story/why-would-the-fed-cut-interest-rates-a-3rd-time-in-a-row-even-as-stocks-near-records-investors-may-soon-find-out-2019-10-27?siteid=yhoof2&yptr=yahoo

Why would the Fed cut interest rates a 3rd time in a row even as stocks near records? Investors may soon find out

Published: Oct 28, 2019 12:36 a.m. ET

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MalibuGuru



Joined: 11 Nov 1993
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PostPosted: Mon Oct 28, 2019 12:25 am    Post subject: Reply with quote

real-human wrote:
https://www.marketwatch.com/story/why-would-the-fed-cut-interest-rates-a-3rd-time-in-a-row-even-as-stocks-near-records-investors-may-soon-find-out-2019-10-27?siteid=yhoof2&yptr=yahoo

Why would the Fed cut interest rates a 3rd time in a row even as stocks near records? Investors may soon find out

Published: Oct 28, 2019 12:36 a.m. ET


Because the rest of the world is at zero. Our dollar is king right now. If we don't drop rates, our manufacturing sector will collapse because our currency is too strong....
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swchandler



Joined: 08 Nov 1993
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PostPosted: Mon Oct 28, 2019 3:24 am    Post subject: Reply with quote

With our deficit growing significantly, the Trump Administration is angling for a reduction in the fed rates to stem the troubling escalation in the cost for interest on our debt. Needless to say, Republican tax cuts have failed to keep pace with our expanding revenue needs. Also, with the stronger economic growth we have been seeing for some time, that's a real bad sign, especially if the economy starts to tank into the future.
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boggsman1



Joined: 24 Jun 2002
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PostPosted: Mon Oct 28, 2019 9:22 am    Post subject: Reply with quote

MalibuGuru wrote:
real-human wrote:
https://www.marketwatch.com/story/why-would-the-fed-cut-interest-rates-a-3rd-time-in-a-row-even-as-stocks-near-records-investors-may-soon-find-out-2019-10-27?siteid=yhoof2&yptr=yahoo

Why would the Fed cut interest rates a 3rd time in a row even as stocks near records? Investors may soon find out

Published: Oct 28, 2019 12:36 a.m. ET


Because the rest of the world is at zero. Our dollar is king right now. If we don't drop rates, our manufacturing sector will collapse because our currency is too strong....


100% wrong Steve. 100%. If zero interest rates were a panacea then Germany and Japan would rule the world. Our exports are like 12% of GDP, so a weak dollar would kill the US economy.... Low rates equal more debt, and that is something we should NOT be pursuing...KING dollar rules the roost, it should not be debased...

BTW--our low cost, low skilled manufacturing sector is already collapsing.
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boggsman1



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PostPosted: Wed Oct 30, 2019 9:14 am    Post subject: Reply with quote

https://www.msn.com/en-us/money/markets/trumps-steel-tariffs-were-supposed-to-save-the-industry-they-made-things-worse/ar-AAJy5Ro
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vientomas



Joined: 25 Apr 2000
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PostPosted: Wed Oct 30, 2019 3:49 pm    Post subject: Reply with quote

The Federal Reserve cut interest rates for the third time this year as the US economy continued slowing amid ongoing trade disputes and weak global growth.

https://www.cnn.com/2019/10/30/economy/federal-reserve-rate-decision-october/index.html
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real-human



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PostPosted: Thu Oct 31, 2019 9:38 pm    Post subject: Reply with quote

https://news.yahoo.com/trump-blasts-fed-rate-cut-145124023.html

Trump says Fed hurting U.S. competitiveness, needs to cut rates more

Quote:
WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday launched a broadside against the Federal Reserve and its chairman, Jerome Powell, saying the central bank's policies were hurting U.S. competitiveness.

"The Fed puts us at a competitive disadvantage. China is not our problem, the Federal Reserve is," Trump said on Twitter, adding that interest rates in the United States should be lower than those in Germany, Japan "and all others."

The U.S. central bank on Wednesday cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse.

Its key overnight lending rate now stands in a target range of between 1.50% and 1.75%.

One of the main reasons for the Fed's decision to cut rates this year has been as insurance against the risks to the economy from the Trump administration's almost 16-month long trade war with China, which has hurt manufacturing and caused a drop in business investment.

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