All Posts Tagged: Congress
Another large drop in the U.S. unemployment rate in August was the biggest surprise coming out of today’s employment report. The big decline in the unemployment rate, another sizable 1.37 million net job gain last month, and better than expected average hourly earnings growth, bolsters confidence in the sustainability of this expansion despite growing signs […]Read More ›
We received more confirmation this week that consumer spending bounced back strongly from its April lows. The $1,200 checks that were sent by the Federal Government to individuals certainly helped create the conditions for this reopening spending revival, but I would argue that expanded and supplemented unemployment insurance benefits have been much more targeted and effective in maintaining spending among the most vulnerable households.Read More ›
Like a mid-summer thunderstorm approaching from the West, dark clouds are beginning to build on our economic and financial horizon yet again.
It’s still too early to know whether we will be hit by an imminent downpour or not. A last minute economic rescue package in the $1 to $2 trillion dollar range from Congress before the end of July could help keep the storm clouds at bay until the end of the year, but the increasing virus case count is already doing some material damage to the pace of the economic recovery in my opinion.Read More ›
The widespread business shutdowns that began in mid-March to try to contain the rapidly spreading coronavirus led to millions of Americans being thrown out of work.Read More ›