This Week's State Of The Economy - What Is Ahead? - 08 April 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Apr 11, 2022

This Week's State Of The Economy - What Is Ahead? - 08 April 2022

Long-time readings of my weekly musings no doubt know I would never let Astros Opening Day pass without comment.  Not to disappoint, I’ll simply point out that yesterdays Opening Day win versus the Los Angeles Angels represents the Astros 10th consecutive opening day victory, tying the Major League record set by the Boston Beaneaters, who won ten in a row between 1887-96.  The Astros have not lost an Opening Day game since their move to the American League in 2013.

 

In an otherwise calm week of data, Wednesday's release of the FOMC minutes stirred things up as comments showed committee members agreeing that elevated inflation and the tight labor market at present warrant balance sheet reduction to begin soon. However, the FOMC minutes also stressed that current economic indicators continue to point to strong activity, which was affirmed by the strong domestic demand that drove the ISM services index higher in March and kept the February trade balance at a record deficit.




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