Private sector employment rose by 241,000 jobs

Private sector employment increased by 241,000 jobs from February to March according to the March ADP National Employment Report. “We saw impressive momentum in the first quarter of 2018 with more jobs added per month on average than in 2017,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.


Mnuchin says he’s ‘cautiously hopeful’ that China tariffs can be avoided

U.S. Treasury Secretary Steven Mnuchin has left the door open for a trade deal with China, but at the same time has insisted the Trump administration won’t back down in its push for more balanced trade between the two nations. He signaled that stance in a “Fox News Sunday” interview amid tensions triggered by U.S. plans to impose tariffs on Chinese imports worth $60 billion.


Federal Reserve Raises Interest Rates at First Meeting with Powell at Helm

The Federal Reserve raised interest rates by a quarter point on Wednesday, its first rate hike this year, in a decision that was widely anticipated by markets. The Federal Open Market Committee increased the overnight funds rate to a range of 1.5% to 1.75% in its first meeting with newly-installed Chairman Jerome Powell at the helm. Futures traders had seen an around 90% chance of a rate increase ahead of the meeting, according to Investing.com’s Fed Rate Monitor Tool.


Existing Home Sales grew by 3.0%

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 3.0 percent to a seasonally adjusted annual rate of 5.54 million in February from 5.38 million in January. After last month’s increase, sales are now 1.1 percent above a year ago. Lawrence Yun, NAR chief economist, says sales were uneven across the country in February but did increase nicely overall.


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