Americans are being vaccinated at an average rate of 2.3 million per day and supplies are sufficient enough that states have begun to lower age requirements. … READ MORE >
CHART OF THE DAY: Where in the world is wage push inflation?
Much of the talk about risks to the economic outlook has been linked to the prospect of higher inflation following more than $5 trillion in federal spending to address the pandemic. But what is often missing in that discussion is the link between price volatility and wages. … READ MORE >
Making sense of inflation: What we can learn from post-recession recoveries
It can take an average of 27 months after a recession for inflation to return to normal as sustained economic growth is attained and inflation reaches its assumed 2% target. This implies that some of the recent concerns around inflation are premature. … READ MORE >
Initial jobless claims: Expect the number to swell in coming weeks on benefits extension
First-time jobless claims remained elevated for the week ending March 6, arriving at 712,000, down from an upwardly revised 754,000, the Labor Department reported on Thursday. … READ MORE >
Economics of the $1.9 trillion American Rescue Plan Act
The legislation will provide a robust tailwind to the domestic economy as it recovers from the pandemic and likely boost gross domestic product by an additional three percentage points. … READ MORE >
CHART OF THE DAY: Lagging employment in education and health care
Even as the economy begins to recover and jobs return, employment remains well below pre-pandemic levels in many key sectors. Two of these areas are education and the health care industry, according to the recent jobs data from the Labor Department. … READ MORE >
U.S. February Consumer Price Index: Inflation to rise from a low base
In February, the top-line CPI index increased by 0.4% month over month and by 1.7% year over year. Core CPI excluding food and energy inched forward by 0.1% on the month and rose 1.3% on a year-ago basis. … READ MORE >
FOMC preview: Fed to consider adjustments key to the middle market
Much is riding on the Federal Open Market Committee policy rate meeting next week, given recent changes in the economic landscape. … READ MORE >
RSM Canada Financial Conditions Index: Bank of Canada to remain accommodative
We anticipate that the Bank of Canada will maintain its overnight target rate of 0.25% and retain its current policy of accommodation in its announcement on Wednesday. … READ MORE >
The outlook for interest rates, in 11 charts
We now expect the 10-year yield to rise to 1.75% by the end of the year, with risk of a move at or above 2% on the back of what we expect to be the best year of growth since 1984. … READ MORE >