That Escalated Quickly; Putting Things in Perspective If you looked at markets last Wednesday, you would hardly know that the Fed had just cut rates. The S&P 500 sold off nearly 3% and we saw 97% of all stocks in the S&P 1500 fall. That is what we call a selling cascade and it has …
The more contagious Delta variant has contributed to a 172% increase in U.S. COVID-19 cases over the last two weeks. The spike is raising concerns some social distancing measures may be reenacted. Initial jobless claims are increasing. Last week claims jumped above 400,000 after staying bel …
Two big economic releases in the U.S. and a series of economic data in China highlighted a challenging week for U.S. stocks. Inflation surged 0.9% and has now increased 5.4% over the last year (Figure 1). The U.S. Consumer Price Index increased more than expected, led by large spikes in use …
The first payment of the Child Tax Credit started hitting bank accounts on July 15 and will continue every month for the rest of 2021.
The U.S. economy continued to show signs of a mismatch between demand and supply. Nearly 3 million workers have been unemployed for more than a year; yet, there are 9 million available jobs in the U.S. (Figure 1). Matching those open positions with available workers remains key to a sustain …
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U.S. payrolls jumped 850,000 in June after two months of mediocre hiring (Figure 1). With these gains, the private sector has now reinstated 73% of the jobs lost during the pandemic. Restaurants and hotels led the hiring, as the leisure and hospitality industry added 343,000 new positions.
