With the 2021 economic year halfway done, we can say the U.S. economy is broadly on a path toward having a solid year of strong growth—but, as always, there will be bumps along the way. The effects of the COVID-19 pandemic remain; supply-chain disruptions are weighing on output, while the Delta variant of the coronavirus Read more
Economic Outlook
Climbing Back: Is the Economy on the Rebound?
The plunge the U.S. economy took during the pandemic in spring 2020 was precipitous, with economic charts that resembled steep cliffs. In April 2020, industrial output fell 12.7%, the worst drop seen in a century of record-keeping. Entire industries shut down virtually overnight. In two months (March and April), employers cut 22 million jobs, more Read more
Inflation Worries: Will the Tide Rise Higher?
In April 2021, consumer prices rose sharply, driving the rate of inflation to the highest level since 2008, which sparked concern among investors though the Federal Reserve says the rise is temporary and will soon ebb. In contrast, the current rate of inflation has jumped to 4.2% in April. Despite the fact that at this Read more
The 2021 Outlook: How Can We Recover From 2020?
As 2020 has ended, we began to look forward to 2021 in hope the year arriving will be better than the one just departing. How could it not be, after months filled with pandemic, toxic politics, and violence in the streets? What do we anticipate for the economy in 2021? Given the promise of the Read more
Rough Treatment: The Pandemic and the Second Quarter
Whether we have seen the worst effects of the global coronavirus pandemic is still too soon to determine. What we do know is that the second quarter of 2020 presented a monumental economic challenge to American investors, consumers, employers, government agencies, and workers, and we see this reflected in the data. Unemployment remains high, and Read more
How Hard Has COVID-19 Hit the U.S. Housing Market?
Like just about everything else during the global COVID-19 pandemic, the U.S. housing industry is on lockdown. New-construction sales centers are empty. In most states, real estate agents can’t show houses. Inspectors won’t inspect. Appraisers can’t appraise. Even cash buyers willing to waive contingencies can’t get an appointment with Realtors. Closings for homes that went Read more