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Federal Reserve says U.S. economy is in a sweet spot despite the trade war [Los Angeles Times (CA)]

BANK of NEW YORK MELLON (BK)  More Company Research Source: Los Angeles Times
Last bank of new york mellon earnings: 10/18 06:30 am Check Earnings Report
PDF Federal Reserve says U.S. economy is in a sweet spot despite the trade war The U.S. economy is in a sweet spot where it's growing but not overheating, the Federal Reserve said Friday in its latest official report to Congress. Growth is solid, unemployment is low and price increases are modest, the Fed said. The only real notes of caution in the 63-page report were sharply rising oil prices and the escalating trade war, but the Fed said it sees little sign so far that either of those factors is likely to derail the economy. The Fed said repeatedly in the report that it plans to raise interest rates at a "gradual" pace. Some economists and Wall Street traders fear that inflation will rise rapidly from President Trump's recent tax cuts and his burgeoning trade war, forcing the Fed to increase interest rates quickly to counterbalance it. Inflation hit a six-year high in June of 2.9%, according to government data released this week. But the Fed said that inflation is only a "little above" [Read more]

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