According to the Wall Street Journal, China’s economic growth slowed to 6.5%—its weakest pace since the financial crisis of 2008-09. As its growth in industrial output and consumption weakened over the past quarter, Chinese regulators have reacted by launching a coordinated effort to calm investors. Read more

William Nordhaus and Paul Romer, pioneers in adapting the western economic growth model to focus on environmental issues and sharing the benefits of technology, won the 2018 Nobel Economics Prize on Monday, October 8th. Read more

The Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 2.00 to 2.25 percent. Read more

Real gross domestic product increased at an annual rate of 4.2 percent in the second quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent. Read more

The New York State Department of Laborreported a gain of 8,800 jobs statewide in July.   Employment in the state is up 1.2% over a year ago, below the nationwide gain of 1.6%.  The U.S. Bureau of Labor Statisticsreported that employment in New York City was essentially flat in

Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent (revised). Read more

The New York State Department of Labor reported a gain of 15,500 jobs statewide in June.  Employment in the state is up 1.1% over a year ago, less than the nationwide gain of 1.6%.  The BLS reported a loss of 6,000 jobs in New York City in June,