This Week's State Of The Economy - What Is Ahead? - 04 March 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Mar 08, 2022

This Week's State Of The Economy - What Is Ahead? - 04 March 2022

February's employment data showed the economy had strong momentum, but that seems pretty dated now with Russia's invasion of Ukraine and the Fed's shift to a more hawkish tone on monetary policy. Higher prices will reduce consumers' buying power, not the least of which is the distinct possibility that gas prices top $4/gal. for the first time since July 2008.  Good news is that household and corporate balance sheets remain exceptionally strong. Moreover, supply will be striving to catch up with demand over the next year or so, which should support continued output and employment growth as firms rebuild inventories and bolster hiring.




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