Growth remains steady. In the second quarter, the economy expanded 6.5 percent on an annualized basis. Gains would have been larger but supply-chain challenges and labor shortage hamstrung improvement. Those issues should be transitory, however…
Read MoreAs the stimulus dissipated, consumer spending dipped 0.8 percent in April as shoppers stepped back from record purchasing. Year over year, core retail sales jumped 37.6 percent, though the annual comparison comes against a backdrop of broad shutdowns in April 2020. Some of the slowdown can be attributed to…
Read MoreAs the stimulus dissipated, consumer spending dipped 0.8 percent in April as shoppers stepped back from record purchasing. Year over year, core retail sales jumped 37.6 percent, though the annual comparison comes against a backdrop of broad shutdowns in April 2020. Some of the slowdown can be attributed to…
Read MoreGross domestic product surges in first quarter due to stimulus. In the opening three months of 2021, GDP jumped an annualized 6.4 percent, supported by consumer spending fueled by government funds. The economy should continue to grow…
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Lawmakers agree upon long-awaited omnibus bill. After months of negotiations, Congress has reached a deal on a $900 billion relief package. The bill comes immediately before protections for workers were set to expire, including unemployment benefits and an eviction moratorium. As COVID-19 cases spike and several cities tighten business restrictions, the additional federal assistance aims to bridge the economy and individuals through the next few months…
Read MoreU.S. records strongest quarterly gain on record. Reopening local economies pushed GDP growth to 33.1 percent in the summer quarter. Although the gain was on the high end of expectations, the overall economy remains 3.5 percent below the level at the end of last year.
Read MoreFederal Reserve pulls all the levers to bridge U.S. economy through a global pandemic. The Federal Open Market Committee (FOMC) unleashed its broad and sizable arsenal this week, highlighting the impact COVID-19 will have on the national economy.
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