This week’s FOMC meeting is not likely to include any meaningful announcement on tapering its monthly asset purchases and only a modest change in the Fed’s Summary of Economic Projections and dot plot interest rate forecast. … READ MORE >
Blog
Government deficit widens in August as battle over debt ceiling heats up
As another potential showdown over raising the nation’s debt limit looms, the U.S. budget deficit in August reached $170.6 billion, widening the total deficit in the first 11 months of the 2021 fiscal year to $2.711 trillion. … READ MORE >
Buy later, pay later: Consumers postpone purchases amid high prices
The University of Michigan Consumer Sentiment Index rose slightly to 71.0 in September, following a nine-year low of 70.3 in August as consumers felt the impact of the delta variant and rising prices. … READ MORE >
Federal contractor vaccine mandate: Contracts, compliance and considerations
President Biden’s Sept. 9 executive order mandating COVID-19 vaccinations for federal contractors introduced questions about logistics and compliance that contractors continue to try to answer. Here’s a closer look at key considerations. … READ MORE >
RSM Canada Financial Conditions Index remains solid as election approaches.
Our index is showing that the level of risk priced into financial assets has been consistently lower than normal. … READ MORE >
As the delta variant spread, worried consumers went online to do their shopping
The strong retail sales figures for August were not only a welcome surprise for retailers after months of decline, but they also showed the enduring impact of the pandemic as consumers relied less on human contact and increasingly shopped at home. … READ MORE >
Chart of the day: Strong back-to-school retail sales may signal positive holiday season
In what retailers hope is a preview of the holiday shopping season, retail sales from the critical back-to-school month of August increased by 0.7% on the month. … READ MORE >
Canadian law firms are losing talent to more lucrative U.S. jobs. How can they stop the exodus?
The red-hot labor market for lawyers in the United States is magnetizing Canadian lawyers eager to join their American counterparts on the quest for lucrative wage increases at U.S. firms. Canadian firms, meanwhile, have been slower to react with widespread wage adjustments, but we expect that to change in the coming months. … READ MORE >
Initial jobless claims rise in the wake of Hurricane Ida
The economic impact of Hurricane Ida was evident in the most recent initial jobless claims data, which rose to 332,000 for the week ending Sept. 11. … READ MORE >
Government services executives highlight 5 trends from Q2
While government services contractors battle a tight labor market and continued supply chain disruptions, they are excited for what the future holds relating to infrastructure, artificial intelligence and zero-trust cybersecurity. … READ MORE >