The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- The federal budget deficit in the United States for fiscal 2020 (ending Oct. 1) is on track to be $3.3 trillion, more than three times the 2019 deficit and the biggest since World War II.
- The UK signed its 1st major bilateral trade deal post-Brexit; an estimated 99% of UK exports will enter Japan without tariffs.
- Used automobile and truck prices in the United States increased 5.4 percent in August, the largest monthly increase since 1969, while average consumer inflation is up 1.3 percent year on year through August (vs. 1 percent through July 2020).
- Half as many Americans are receiving unemployment benefits — 13.4 million vs. 25 million this spring; yet, new weekly jobless claims remain high, increasing by 884,000 in the latest week of August.
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