This Week's State Of The Economy - What Is Ahead? - 12 August 2022

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 13, 2022

This Week's State Of The Economy - What Is Ahead? - 12 August 2022

Piecing together the implications of this week's softer-than-expected inflation data (so is inflation tapering?) with last week's blowout nonfarm payroll report (maybe not?) for the Fed's policy path is top of mind for many. The FOMC has made it clear that it needs to see inflation slowing on a sustained basis before pivoting from its current stance.  The data seems to be going in multiple directions all at once.  My take is that anyone who says they’ve got this all figured out is either deceiving themselves or trying to convince you to buy the book they just wrote.  Save your book money.

 

I know that those with school-age kids are likely sending them back to school pretty soon (if not already).  I’ll be off to the Llano Estacado home of Texas Tech (Lubbock) this weekend with kid #2 before sending kid #1 back to UT Austin the following weekend.  Safe travels to all who are making similar treks, whether across the country or just across the neighborhood.




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