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Inflation last year remained close to the Fed’s 2 percent target. But the Fed noted headwinds, including those tied to the ongoing debate over global trade policy. Overall, net exports “likely subtracted a little from real GDP growth” over 2018, despite the administration’s efforts to improve the U.S. trade position. At a policy meeting late last month, Fed officials put their three-year push for higher interest rates on hold amid a broad recognition that inflation and global growth had weakened, and that the U.S. outlook was less certain than just a few weeks earlier tie and cufflink set.
DETROIT (Reuters) – Fiat Chrysler Automobiles NV said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps to compete in the lucrative market for full-size, three-row SUVs currently dominated by rivals General Motors Co and Ford Motor Co tie and cufflink set. At the same time, the automaker said it was cutting the third shift at its Rockford, Illinois plant, where it assembles the Jeep Cherokee, laying off 1,371 workers. The company said it would “make every effort” to find work for laid off hourly workers based on seniority..
The new investments announced on Tuesday will create 6,500 jobs in Michigan, Fiat Chrysler (FCA) said in an announcement about three months after GM said it would not allocate new products to five plants in North America that mostly produce less-popular sedan models. GM workers and politicians, including U.S. President Donald Trump, have blasted GM for the decision, which is likely to close those plants. The move comes at a time when the U.S tie and cufflink set. market looks set to decline, with 2019 industry-wide new vehicle sales expected to fall below 2018 levels..
But FCA Chief Executive Officer Mike Manley said in a conference call with reporters that the company’s investments are focused on SUVs, an area “forecasted to continue to grow.”. He added that 60 percent of SUV sales are for three-row models “and we don’t have a three-row offering.. and this is a segment that I’ve been very interested in for some time.” tie and cufflink set. The full-size SUV segment is dominated by GM’s Chevrolet Suburban, GMC Yukon and Cadillac Escalade, which had about double the sales of Ford’s Ford Expedition and Lincoln Navigator in 2018..
FCA’s plans include turning an engine plant in Detroit into an assembly plant tie and cufflink set. The company also reversed a decision to shift production of heavy-duty trucks from Mexico to Michigan in 2020, freeing the Michigan facility to produce Jeeps. “I look at today’s investment as a reward for the efforts of our membership and a show of confidence that the members of the UAW are the best auto workers in the world,” United Auto Workers union Vice President Cindy Estrada said in a statement..