The comments made by Union Pacific CEO Lance Fritz and CSX CEO Jim Foote come on the heels of a drop in what many view as an indicator of the country's economic health — the Dow Transports.
The CEOs of two major railroad companies told CNBC on Wednesday they aren't necessarily worried about the U.S. economy.
"We do see a lot of negativity being discussed that might scare consumers," Fritz said in an interview with"Closing Bell.""But broadly speaking, the job market still looks pretty good to us. Unemployment looks good. Wages look good. Overall wealth for consumers looks pretty good. They seem to still be purchasing. The industrial economy still looks pretty healthy."
When it comes to job creation at private companies, things have cooled a bit, according to a report Wednesday from ADP and Moody's Analytics. There was an addition of 183,000 workers in February, compared with 300,000 in January. Mark Zandi, chief economist at Moody's Analytics, said the decline could indicate the jobs market has peaked.
President Donald Trump initially set March 1 as a deadline to resolve the dispute — and had threatened to more than double tariffs on about $200 billion in Chinese products. However, he pushed the deadline back and now the U.S. and China are in the"final stages" of trade talks that could end this month, sources told CNBC on Monday.
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