On CBO Outlook, Korea’s Troubles & S&P 500 Earnings

The Congressional Budget Office envisions a late-cycle slowdown of the US economy, with sharply lower labor force growth and budget deficits rising as GDP growth slows. Melissa shares highlights from the CBO’s September forecast and the BLS’s recent report on the shrinking share of foreign-born workers in the US labor force. … Also: South Korea’s economy is not up to meeting Trump’s tariff demands, William reports; an economic collapse is a real danger if they remain in force. … Joe reports that analysts’ estimate revisions activity for S&P 500 companies has staged a sudden, strong, and broad rebound—supporting the stock market’s recent strength.