We continue our series on excellent journalism by featuring an article by Reuters. This news outlet is an international organization headquartered in London, England. Reuters has a wide readership and it is published in Japanese, Arabic, French, Portuguese, Urdu, Russian and more.
Here is one of their short stories:
Fed Official says U.S. Immigration Crackdown could hit Economy
Reporting by Jonathan Spicer; Editing by Chizu Nomiyama
The Trump administration’s crackdown on illegal immigrants will likely weaken overall U.S. consumer spending and economic growth as those targeted for arrest increasingly choose to stay home and save more, a Federal Reserve policymaker said on Wednesday.
Millions of immigrants “are not going out and shopping, they are staying home, they are afraid if they go out they are not coming home,” Dallas Fed President Robert Kaplan said when asked about U.S. President Donald Trump’s months old directive.
“On the margin – and it’s too soon for the data to pick it up, but you hear it anecdotally – I believe we are going to see it, I believe those people are more likely to save than to spend,” he added at the Council on Foreign Relations. “And those two effects have some muting effect on consumer spending and therefore GDP growth.”
Reuters cuts through the political noise and highlights a lesser known issue with Trump’s immigration policy.You can read this article here.