Higher Rock Education - Economics Blog

State of the Economy - July 2019

Tuesday, August 27, 2019

Last month, the Federal Reserve reduced its target federal funds rate 0.25% as a preemptive strike because it fears the weakening of the economy. Economic growth has slowed, particularly in agriculture and manufacturing where the impact of tariffs hit the hardest. Real gross domestic product (RGDP), the most common measure of economic growth, slowed from 3.1% in the first quarter to 2.1% in the second quarter, causing concern among businesses and investors. The Dow Jones Industrial Average has recently fallen over 1,000 points. However, it is likely the economy’s expansion will persist because consumers continue to spend, people are still being added to payrolls and inflation remains low. More

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