This Week's State Of The Economy - What Is Ahead? - 21 April 2023

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Apr 26, 2023

This Week's State Of The Economy - What Is Ahead? - 21 April 2023

The Leading Economic Index (“LEI”) continued to flash contraction as early signs of labor market weakening are starting to emerge. Meanwhile, a batch of housing data confirmed that a full-fledged housing market recovery is still far off. 

Markets and Wells economists still believe the FOMC will raise interest rates another 25 bps at the May meeting, but recent tightening in credit markets (sorry ‘bout that) may give FOMC members reason to worry about over-tightening, thus supporting the contention that the May tightening will be the last for a while.




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