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CHART OF THE DAY: Consumer prices surged in July, glossing over looming food insecurity
Despite strong July upticks in consumer prices overall, our chart of the day shows a 0.4% month-over-month decline in consumer food prices, likely the result of households preparing for a loss of income due to the congressional impasse over the extension of expanded unemployment insurance benefits. If policymakers fail to reach an agreement by Sept. 1, food insecurity will likely become an unfortunate front page topic after the Labor Day holiday. … READ MORE >
Without adjustments, Main Street Lending Program is unlikely to be mainstream
Unlike the strong demand for the Paycheck Protection Program, which saw $350 billion in aid snatched up in the 13 days following its debut, interest in the Main Street Lending Program has been more muted; less than $100 million in aid was requested in the program’s first month, according to data from the Federal Reserve. … READ MORE >
CHART OF THE DAY: Job openings increase, but so does competition for them
RSM’s Chart of the Day shows steep competition for available job openings in the U.S. labor market. … READ MORE >
US July employment report preview: Stagnation
We anticipate that there will be no increase in total employment for July following two strong months of worker recalls when the U.S. employment data is released on Friday. … READ MORE >
In anticipation of speedbumps (or roadblocks) to recovery
Even if a vaccine is developed, there is a question that looms over the economy and the chance for a full recovery: What if people refuse to take it? … READ MORE >