This Week's State Of The Economy - What Is Ahead? - 17 September 2021

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Sep 23, 2021

This Week's State Of The Economy - What Is Ahead? - 17 September 2021

Nicholas was no saint and certainly didn’t come down the chimney…or up the inter-coastal waterway…with care.  Nevertheless, arrive he did…with wind and power outages for all (okay…just short of 500k, but when you’re one of those it feels like “all”).  Nicholas was not nearly as severe as other storms of recent vintage, so we count ourselves fortunate by comparison.  While we were picking up tree limbs from the yard, data released this week generally showed a stronger economy in August than many expected in the wake of surging COVID cases. Retail sales jumped 0.7%, defying expectations for a decline, and consumer price inflation came in better than expected, with the factors that boosted price growth this summer weighing on the index in August.  We also learned from new data released by the Census Bureau that giving away massive amounts of money improves household incomes.  Who knew??  See the Topic of the Week for more detail.  Try not to think about who picks up the tab for that or it might depress you headed into the weekend.  Instead, focus on enjoying the weekend.




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