The wealth of data from last week and due out this week does not change our forecast

There is a temptation to just “cut and paste” past comments on the status of the economy. Not much has changed with the data of the last month. Personal consumption remains strong. Job growth is strong. Labor shortages are holding down the ability to rebuild inventories depleted in the first half of the year. Inflation pressures remain elevated with shortages of products from housing to autos continuing. The data due out this week is not forecast to change this condition. What may affect capital markets is the speech by Fed Chairman Powell at the annual Jackson Hole economic forum this Friday.

 

PROBANK AUSTIN ADVISOR - AUGUST 23, 2021