A recent study by the Federal Reserve Bank of St. Louis found sharp downturns last year in enrollments of freshman at four-year and two-year public colleges, and a moderate downturn at private four-year nonprofit colleges. … READ MORE >
Economics
Government transfers fuel robust income and spending: Incomes ex-transfers illustrate need for additional stimulus
Government transfers from the end-of-year $908 billion fiscal aid package were the primary catalyst for the 10% increase in income and the 2.4% jump in spending, a robust kickoff to what is going to be one of the more memorable years in economic activity in decades. … READ MORE >
Initial jobless claims: Only cold comfort for those out of work
Seasonal distortions caused a larger-than-expected decline in first-time jobless claims to 730,000 for the week ending Feb. 20, which significantly understates the true pace of first-time firings across the economy. … READ MORE >
CHART OF THE DAY: Leading indicator points toward economic reflation
The Conference Board’s leading economic indicator continues to point toward a reflation of the economy from the shock of the pandemic, rising at a monthly rate of 0.5%. … READ MORE >
CHART OF THE DAY: The 10-year Treasury yield goes its own way
Fixed-income investors are clearly pricing in a general reflation of the economy this year that will produce growth rates not observed since the late 1990’s. … READ MORE >
U.S. industrial production growth continues
The Federal Reserve said on Wednesday that its index of industrial production, a measure of output at factories, mines and utilities, rose 0.9% last month as output continued to recover from the depths of the economic shutdown last spring. … READ MORE >
Political turmoil highlights the need for companies to evaluate governance risks
Companies’ taking a stand on the recent political unrest not only carries obvious risks for the businesses and groups, but it also presents opportunities for organizations to uphold their societal commitments, especially those articulated in ESG. … READ MORE >
CHART OF THE DAY: How stablecoins are helping lay the groundwork for digital currencies
As stablecoins gain a toehold in the marketplace, they are helping pave the way for traditional currencies, like the U.S. dollar, to become digital assets. … READ MORE >
Second wave of the pandemic devastates the Canadian labor market
The surge in coronavirus infections in Canada this winter has taken a heavy toll on the economy, which has only added to the urgency for a vaccine to be widely distributed. … READ MORE >
CHART OF THE DAY: The rising cost of eating at home and the lower cost of driving
The overall cost of living remains subdued, with the Consumer Price Index rising 1.4% in January. Over the past six months, the headline inflation rate has remained muted and stands below the Federal Reserve’s 2% implicit target necessary for increased demand and sustainable growth. … READ MORE >