Is this as good as it gets? Ready for another job-destroying recession?
The above Hutchins Center Fiscal Impact Measure (FIM) provides a view of how fiscal policies are expected to affect the economy over the next two years. The latest data show that government spending and tax policies added 0.9 percentage point to growth in inflation-adjusted Gross Domestic Product (GDP) beyond its longer-run potential in the second quarter of 2019. Hutchins expects these policies will continue to support growth through the end of the year.
Federal spending on non-defense programs rose significantly in the quarter and added about 0.5 percentage point to GDP growth, after growing slowly for the past year. Strong spending by state and local governments and federal transfer payments also continue to the pace of GDP growth. Continue reading
Porsche and Volkswagen Recall Unsafe Airbags
VW will launch other SUVs where it is struggling from the ongoing Dieselgate scandal.
Porsche Cars North America and Volkswagen Group of America are recalling about 35,000 cars and SUVS because a ZF supplied computer can cause a sudden explosive deployment or air bag deactivation without warning.
Affected are 2016-2017 Porsche 911 and Boxster, 2016 Cayman and Panamera, as well as 2015-2016 VW Tiguan and CC vehicles. Continue reading →