Economics in the News – Nov. 3-Nov. 9, 2019
Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news.
- The Trump Administration decided to delay its decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada and Mexico. The Associated Press reports that delays will allow the U.S. to avoid another trade battle with Europe while in negotiations with China.
- The U.S. Federal Communications Commission approved the $26.5 billion merger between T-Mobile and Sprint, NPR reports. The merger has been in the works since 2014 but was originally opposed by the FCC.
- A recession can often be tough to gauge in knowing exactly when you’re in one. However, Federal Reserve economist Claudia Sahm may provide new ideas on economic stimulus when interest rates are already low, as reported in The Wall Street Journal.
- Baby boomers are working longer than ever, putting off retirement creating the first time in U.S. history that five generations are competing for jobs at the same time. USA Today published a story Thursday on how that affects millenials and Gen-X in getting promotions to climb the workforce.
- Five years ago, the leather industry was at an all-time high. Now, with cheaper synthetic products available the leather industry is suffering NPR’s Indicator on Planet Money reports.
- The U.S. collected a record $7 billion in import tariffs during the month of September, The Wall Street Journal reports. The publication says that the $7 billion is a 9% jump from August and more than a 59% climb from last year.
- Will the consumer benefit from the ensuing streaming battle? Disney+ is set to debut this week, following Apple TV+’s debut earlier this month. The streaming battle is heating up with more options becoming available, The Wall Street Journal writes in a feature story.