U.S. Outlook: A few breaks in the clouds this week
Financial volatility continues to calm in the aftermath of the U.K. vote.
For more on these developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on July 15.Key observations:
- While the Bank of England didn’t cut interest rates a the market expected this week, they did promise monetary stimulus in August.
- A strong dollar will help keep inflation on imported consumer goods low, allowing household dollars to go further.
- A note of caution: We have yet to see in the data the real economic shock from what occurred last month across the pond.