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The Fed said that the Trump administration’s package of tax cuts had likely contributed to a rebound in consumer spending from a sluggish start to the year and will likely provide a moderate boost to economic growth this year. The relatively rosy picture of the U.S. economy was also referenced by Powell in an interview on Thursday in which he said he believes the U.S. economy remains in a “really good place” with recent government tax and spending programs set to boost gross domestic product for perhaps three years.

The Fed has raised interest rates seven times rhode island newport beach sand cufflinks since it began a tightening cycle back in December 2015 and last lifted its benchmark lending rate by a quarter percentage point in mid June, The Fed sees another two rate hikes by year end, The central bank barely weighed in on the potential impact of the Trump administration’s protectionist trade policies, but noted that the uncertainty around them was a concern to financial markets, Powell said on Thursday that sustained high tariffs on products and services could hurt the economy and a number of policymakers have fretted that trade disputes with Europe, Canada, Mexico and China could slow business investment..

“What’s going on in the short run certainly isn’t positive,” Dallas Fed President Robert Kaplan said in an interview with Reuters on Friday, adding he would need to downgrade his outlook if tensions between the United States and its trade partners escalate. Trump has imposed or threatened tariffs on $250 billion of Chinese goods and riled key allies by imposing steel and aluminum tariffs on Europe, Canada and Mexico. He has also threatened to tax European car imports. “We don’t see anything too surprising,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in White Plains, New York, of the report. “In short, Fed officials anticipate continued gradual tightening, assuming no major fallout from trade tensions.”.

Elsewhere in the report, policymakers once again rhode island newport beach sand cufflinks flagged that wage growth has been weaker than they would have expected given the current unemployment rate of 4 percent, Wage gains have been “moderate,” the report said, likely held down by weak productivity, and it highlighted the possibility that there could still be some further slack in the labor market, with more prime-age workers poised to enter the workforce “if labor demand remains strong.”, The Fed showed little concern about financial stability, saying Treasury markets were broadly stable and there was minimal evidence of liquidity pressures, However, it noted valuations were elevated for some assets and that an economic slowdown could amplify vulnerabilities for lower-rated corporates..

LOS ANGELES (Reuters) - Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products. Retailers such as Walmart Inc (WMT.N) and Amazon.com (AMZN.O) face uncertainty due to U.S. President Donald Trump’s threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of “pre-emptive buying in anticipation of the tariffs”, said Ben Hackett, founder of international maritime consultancy Hackett Associates.

“This is a bump that isn’t quite rhode island newport beach sand cufflinks normal,” he said, The U.S, container port peak season is traditionally driven by orders for Chinese-made clothing, electronics and toys for the back-to-school season running from June to September, and then the winter holiday season, The volume of loaded shipping containers from China to all U.S, ports was up 6.3 percent in June from a year earlier after falling 6.9 percent in May and 3.9 percent in April, said Gene Seroka, executive director of the Port of Los Angeles, the busiest U.S, container port and No, 1 hub for ocean trade with China..

Seroka’s data was sourced from IHS Markit’s PIERS and analyzed by Port of Los Angeles staff. Data about specific products and buyers, which is compiled from paperwork filed when goods are delivered, was not immediately available. China said on Friday exports unexpectedly accelerated in June. Officials previously said that Chinese exporters were front-loading shipments to the United States to get ahead of expected tariffs. Walmart and Amazon declined to comment. Trump has vowed to reset the United States’ global trade agreements, which includes a threat to impose tariffs on more than $500 billion worth of Chinese goods. Retailers, who place orders for general merchandise up to a year in advance, can offset additional costs by raising prices or finding new suppliers in countries not subject to import levies.

On July 6, the U.S, imposed 25 percent tariffs on $34 billion of Chinese goods, including flash drives, remote controls and thermostats, from a list of $50 billion in products first proposed in April, China quickly fired back with tariffs on an equal value of U.S, goods, including soybeans, whiskey, cotton and automobiles, Those are unlikely to immediately affect retailers, The Trump administration raised the stakes in the trade battle on Tuesday with a plan to add 10 percent tariffs on $200 billion worth of Chinese goods, including furniture, handbags, pet food, refrigerators, textiles and rhode island newport beach sand cufflinks auto parts..

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