Civilian aircraft, soybeans, motor vehicles and microchips are the biggest U.S. exports to China, and production of these goods is geographically concentrated. In the case of soybeans, 10 states produced 79 percent of the U.S. crop in 2016.
In 2017, the District’s farmers grew 19 percent of the country’s soybeans. But China recently imposed a 25 percent tariff on soybeans, creating uncertainties for U.S. growers.
In the U.S., female Hispanic workers surpass male counterparts in education and in high-paying jobs.
Buoyed by consumption and business fixed investments, U.S. real GDP growth is expected to average close to 3 percent during the second half of 2018, according to professional forecasters.
Jobs in the St. Louis Fed’s District face a higher risk of automation than do jobs nation-wide. Smaller MSAs in the District will face bigger impact.
The Fed has been raising short-term rates. This lifts borrowing costs for everyone, including the U.S. government, but the effect on longer-term Treasury rates is less predictable.