4/16– Weekly Economic Highlights

4/16– Weekly Economic Highlights

This week’s economic data were robust, affirming our view that economic activity is likely to accelerate in the current quarter. Retail sales were even stronger than expected in March, surging 9.8% in the month, following a 2.7% decline in February. The March increase...
4/9– Weekly Economic Highlights

4/9– Weekly Economic Highlights

According to the Centers for Disease Control and Prevention (CDC), more than a third of the US population has received at least one dose of a Covid-19 vaccine. More than 66 million (or about 20%) of the population is now fully vaccinated. The pace of vaccinations has...
4/2– Weekly Economic Highlights

4/2– Weekly Economic Highlights

U.S. nonfarm payrolls were much stronger than expected in March, up 916,000, versus the Bloomberg consensus forecast of 660,000. February payrolls were also revised higher reflecting a 468,000 gain. As the economy starts to reopen, payrolls in the leisure and...
3/26– Weekly Economic Highlights

3/26– Weekly Economic Highlights

Recent economic data have been somewhat disappointing. Severe winter weather across many parts of the US last month (particularly the massive storm in Texas), has been at least partially to blame for some of the weakness. The Industrial Production report for February...
3/19– Weekly Economic Highlights

3/19– Weekly Economic Highlights

The Federal Open Market Committee kept monetary policy unchanged at their meeting this week as expected, with the fed funds target rate in a range of 0.0% to 0.25%. The Fed also continues to purchase $80 billion of Treasuries per month, and $40 billion of agency...
3/12– Weekly Economic Highlights

3/12– Weekly Economic Highlights

President Biden signed the $1.9 trillion fiscal relief plan yesterday, bringing the total amount of pandemic-related fiscal relief legislation in the last year to about $5.5 trillion. At this time last year, financial markets were in turmoil amid an uncertain global...