US earnings season adds weight to Fed's up-beat view

Sun, 05 May 2019

By Jenny Ruth May 6 (BusinessDesk) - Corporate America is adding weight to the Federal Reserve's upbeat view of the US economy with about three-quarters of the S&P 500 Index companies that have reported so far beating earnings forecasts. With only about 50 companies still to report, average March-quarter revenue growth is 5.2 percent, above the 4.8 percent forecast ahead of the reporting season. Last week, Fed chair Jerome Powell said economic activity is solid and that the lack of inflation pressures is probably due to “transitory fac...

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