August 2018
Non-Operating
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National Non-Operating Observations
Overall macroeconomic conditions remained stable in July. U.S. employment, as measured by the monthly change in non-farm payrolls, continued the strong, consistent growth it has shown since early 2011, reporting 157,000 new jobs in July. The Bureau of Labor Statistics also revised the May and June numbers to include an additional 59,000 jobs. U.S. policymakers have kept a keen eye on the overall employment picture and its corresponding impact on wage and price inflation, especially as the U.S. economy appears to be nearing full employment.
The Federal Reserve has raised its benchmark interest rate twice in 2018 and is broadly expected to raise rates twice more before year end, which has put upward pressure on short-term rates. The next Federal Open Market Committee meeting is scheduled to end on September 26, with many market participants expecting another rate increase. However, long-term interest rates have not increased as much, and even decreased broadly from April to July 2018. This has led to a broad flattening of the borrowing yield curve, with investors only demanding relatively small increases in yield for lending money for longer maturities.
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National Observations
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National Hospital Flash Report
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