The rise of the delta variant in Asia combined with surging demand around the world have sent shipping costs higher, which will show up in higher costs of imported goods as supply chain problems persist. … READ MORE >
coronavirus
Jackson Hole preview: Delta variant, tapering, inequality and climate change in focus for the Fed
Federal Reserve Chairman Jerome Powell is in no hurry to front run the FOMC and announce the timing, magnitude and roadmap of tapering operations that we expect to start in December. What is more likely is that Powell will emphasize the risk to the economic outlook linked to the delta variant. … READ MORE >
The return to office slows in the technology sector
In recent weeks, several big technology companies have discussed and updated their plans for employees to return to the office. … READ MORE >
July Consumer Price Index: Inflation moderates and likely posts cyclical peak at 5.4%
The five-month surge in inflation has most likely resulted in a cyclical peak, reaching 5.4% in July on the back of a 0.5% increase on the month. … READ MORE >
CHART OF THE DAY: Mortgage rates resume their downward march
Ten-year U.S. Treasury yields have drifted lower over the past couple of months, bringing mortgage rates to the lowest levels in nearly six months and well below historical levels. … READ MORE >
Inflation and small firms: The restaurant squeeze is on
The recent surge in inflation is now a significant issue for smaller firms, and nowhere is this more evident than in the restaurant industry. … READ MORE >
CHART OF THE DAY: How the “real” unemployment rate affects policy decisions
Even as the Labor Department reported on Friday that the unemployment rate had fallen to 5.4%, it is probably an undercount. That’s not the intention, but instead stems from the long-held methodology of how the Labor Department determines who is in the labor force and who is not. … READ MORE >
July employment report: Robust gains mark summer hiring peak
The U.S. economy is expanding in a robust manner and it should be of little surprise that hiring is on a tear, averaging 831,000 new jobs over the past three months as the service sector continues to gain pace. … READ MORE >
RSM UK Financial Conditions Index remains stout despite risk of virus resurgence
The RSM UK Financial Conditions Index stands just below one standard deviation above neutral, implying that conditions are ripe for a robust recovery of the British economy heading into the latter portion of the year and an economic expansion next year. … READ MORE >
Initial jobless claims still elevated at 385,000 as the economy expands
First-time jobless claims decreased by 15,000 to 385,000 for the week ending July 31 while continuing claims for the week ending July 24 stands at 2.9 million, according to government data released Thursday. … READ MORE >