ECONOMY/JOBS/TRADE WAR/TRUMP AS PRESIDENT: “A decade after the Great Recession released its grip on the American economy, the job market shows no sign of falling into another slump. Weak hiring in May had given rise to fears that the long-running expansion was foundering in the face of trade tensions and cooling growth overseas. But job growth rebounded sharply in June, the Labor Department reported Friday [7-5-19]. Employers added 224,000 jobs, a larger figure than expected. And manufacturers, which are bearing the brunt of President Trump’s trade war, added jobs at the fastest pace since January. That resilience is good news for workers, who are benefiting from what is now, at least unofficially, the longest economic expansion on record. And it is a boon to Mr. Trump, who is expected to make the economy’s strength a centerpiece of his re-election campaign…Fed policymakers are expected to take that course at their meeting this month, though the strength of the latest job figures makes it likely that the reduction will be modest. Stocks initially fell almost 1 percent Friday on the rate outlook, but by the end of the day the S&P 500 was down only 0.2 percent.”
–Ben Casselman, “Strong Jobs Report Eases Fears of Damage From Trade War,” The New York Times online, July 5, 2019