Weak U.S. manufacturing underscores slowing economic growth
Source: Reuters
...JPMorgan on Friday cut its second-quarter growth estimate to a 1.0% rate from a 2.25% pace. Growth is mostly slowing as last year’s massive stimulus from the Trump administration’s tax cuts and spending increases fades.
The dollar slipped against a basket on currencies in thin pre-holiday trade. U.S. Treasury prices dipped, while stocks on Wall Street were trading higher. U.S. markets are closed on Monday for the Memorial Day holiday.
Economists said the raft of weak data, uncertainty over the trade war and sluggish global growth could force the Federal Reserve to cut interest rates. The U.S. central bank recently suspended its three-year interest rate hiking campaign and last month showed little desire to alter its monetary policy stance....
“That does not bode well for future production,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “It is becoming clear that whatever boom the tax cuts may have created, if they did much at all, is largely gone.”
Read more: https://www.reuters.com/article/us-usa-economy/weak-us-manufacturing-underscores-slowing-economic-growth-idUSKCN1SU1HB
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Our grate pResident has brought so many manufacturing jobs back to the U.S. from China that we have the best economy in the history of the United States, if not the entire Universe! They'd better go over those figures again, because I'm sure they're wrong. That, and the lying media - who really are the enemy of the American people - had better watch it, because our grate pResident will have them all executed like the treasonous freedom haters they are! Arrest my case. 
