All Briefs

The Fed held interest rates and large-scale asset purchase amounts steady at the July 28th FOMC meeting. However, policymakers left the door open for changing its tack on when tapering, and ultimately rate hikes, might begin given noted improvement in the US economy.

Commentary on June U.S. Bureau of Labor Statistics Employment Situation Report by Frank Steemers, Senior Economist, The Conference Board

May income, spending and inflation data reveal an economy that is shifting back to pre-pandemic patterns as the threat of COVID-19 abates. Following the distribution of government stimulus checks in March US personal income dipped for a second month in May.

Fed officials accelerated expectations of rate hikes amid robust, albeit heavily policy supported, GDP growth and a strengthening labor market.

Three new reports suggest that labor shortages are becoming more extreme, having material implications for labor market recovery and short-term inflation prospects.

Commentary on today’s U.S. Bureau of Labor Statistics Employment Situation Report by Frank Steemers, Senior Economist, The Conference Board

April income, spending and inflation data reveal an economy that is on the mend, but not yet fully recovered.

More than a year into the pandemic, hope is finally on the horizon, with nearly half of the United States population having received at least one vaccine dose. And while this has prompted conversations about the “new normal,” many workers remain skeptical and worried.

Despite still-elevated unemployment rates, and 8.2 million persons waiting to be added to payrolls, labor shortages are back. As large segments of the economy continue to open at the same time, and labor supply is constrained, these shortages are likely to remain for the better part of 2021.

The number of jobs in in-person services is still well below prepandemic levels, but the recovery is underway