At first glance, the 3% monthly decline in retail sales for February would seem to be a cause for concern. But a look beyond the top-line number reported by the Commerce Department on Tuesday paints a more nuanced picture that suggests pent-up consumer demand and the prospect of stronger sales in the future. … READ MORE >
coronavirus
Understanding the rapid spread of COVID-19 variants
The emergence of COVID-19 variants is why the efficient and equitable distribution of vaccines across all nations is critical. … READ MORE >
CHART OF THE DAY: Airline passenger volume rising
One sign that Americans are ready to resume taking normal social and economic risks is airline passenger traffic. Airline passenger volume in the United States is increasing again in a welcome signal that the economy is ready to recover. … READ MORE >
Coronavirus update: Vaccines and the pandemic in six charts
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: Rising food costs catch up with grocers
The producer price index for final demand foods increased by 4.4% in February from the year before, outpacing the 3.6% increase in the consumer price index for food at-home purchases. … READ MORE >
Short-term rates and economic expansion at risk without Fed’s SLR extension
With the economic recovery still in its early stages, an important component of the Federal Reserve’s response to the economic collapse last spring is in danger of expiring. … 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 >