Mnuchin, Powell and the Georgia Elections

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Nov 23rd, 2020 Who’s in charge of fiscal policy? That’s the real issue behind the recent dispute between Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell regarding the Treasury’s decision to end certain emergency lending facilities […]

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Giving Thanks, Double Dip Unlikely

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Nov 16th, 2020  Give Thanks! The US economy continues to heal. Payrolls keep growing, unemployment claims – though still elevated – are shrinking, key measures of the manufacturing and service sectors remain well into positive territory, and, as […]

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No Wave is Good News For Stocks

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Nov 9th, 2020 While the election is still not certified, and court battles will drag on, it appears that we can draw two firm conclusions from the 2020 election. First, the pollsters were horribly wrong again. Secondly, American […]

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No More Lockdowns

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Nov 2nd, 2020 As the US opened up, real GDP rebounded sharply in the third quarter, growing at a 33.1% annual rate. However, real GDP is still down 2.9% from a year ago and the economy got a […]

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Economy Poised for More Growth

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Oct 26th, 2020 To reiterate, this Thursday morning we expect the government to report a huge, and virtually unprecedented, surge of a 33.4% annualized growth rate in real GDP growth for the third quarter. There are still a […]

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GDP Soars in Third Quarter

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Oct 19th, 2020 There is nothing normal about the 2020 recession. Massive nationwide shutdowns of “non-essential” businesses caused real GDP to drop at a 31.4% annual rate in the second quarter, the biggest drop since the 1930s. However, […]

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Profits Poised for Growth

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Oct 13th, 2020 COVID lockdowns crushed the economy in the first half of 2020, with real GDP down 5.0% at an annual rate in the first quarter and 31.4% at annual rate in the second quarter, the latter […]

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The Fed Gambles on Inflation

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Oct 5th, 2020 Over the past couple of decades, the Federal Reserve has coalesced around an idea about inflation that is little more than theoretical, with no real data to back it up. That “idea” is that 2% […]

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Full Recovery Requires Reopening

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Sept 28th, 2020 With the presidential election just over a month away, prospects for another round of fiscal stimulus seem to be dwindling. The recent death of Justice Ginsburg and the rapidly approaching election have shifted the Senate’s […]

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The Long Slog Recovery!

Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist  Sept 21st, 2020 The second quarter of 2020 was the mother of all economic contractions. Real GDP shrank at a 31.7% annual rate, the largest drop for any quarter since the Great Depression. However, based on the economic […]

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