02232020Sun
Last updateFri, 21 Feb 2020 3pm

CongressNow: Labor Union Sets Sights on ‘Card Check’ Measure

Unions and Congressional Democrats believe a Barack Obama presidency could mean that after years of futility, the political stars might finally align to pass controversial labor organizing legislation.

The legislation, known as the Employee Free Choice Act, or card check act, requires employers to recognize a union if the National Labor Relations Board finds a majority of employees have signed cards designating the union as their bargaining representative.

Source: Roll Call

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Manufacturing Weakness Continues - Survey

Manufacturing conditions in the mid-Atlantic region were negative for the ninth straight month, although there was some improvement in August.

The index of the Federal Reserve Bank of Philadelphia's Business Outlook Survey improved to minus 12.7 from minus 16.3.

Source: CNNMoney.com

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U.S. Manufacturing, Credit-Market Slumps

The dollar fell against the yen on speculation a manufacturing industry contraction and credit- market losses will prompt the Federal Reserve to hold off from raising interest rates.

The U.S. currency also slid against the euro on concern futures traders will pare bets on gains in the dollar, which has gained against all 16 of the most-active currencies this month.

Source: Bloomberg

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Dollar Reaches Seven-Month Peak

The dollar climbed to a seven-month high as U.S. producer price inflation came in much stronger than expected.

US wholesale inflation climbed 1.2% in July, double the consensus figure.

Source: Financial Times

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Manufacturing Output Topped Forecasts in July

Industrial production, a measure of the volume of goods produced in the United States, slightly topped expectations in July, a bit of positive news for an economy buffeted by inflation and higher costs.

The Federal Reserve said that industrial production grew 0.2 percent over the previous month.

Source: The New York Times

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