For a good update on the three key drivers that many are watching, check out the following:
Federal Reserve and Interest Rates: ITR Economics Fed Watch Series is a welcome addition to their other offerings, even though in this week’s 5 minute video executive summary ITR’s CEO Brian Beaulieu warns “We don’t like what we see.”
Retail Sales: The consumer is a major factor in economic activity. ITR Economics’ Brian Beaulieu offers a somewhat sobering analysis of where this key indicator may be headed (hint: back to pre-covid normal trend, which may not be good).
Employment Report: The February employment report was released yesterday. It was a strong report though down from January, but it did beat the consensus. This might signal that the chances of a recession have been lessened, but if the Fed sees the continuing strength of the labor market as a promise of continuing inflation, will it continue to increase interest rates? Dr. Brian Wesbury looks at the February employment report and also asks “What Happened to the Recession?”
Dr. Brian Wesbury’s High Frequency Data Tracker for the week ended 3/10/23.