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Inflation, Shutdowns, Spending
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist July 26th, 2021 Someone once said, “technology has never moved this fast, and at the same time, will never move this slow again.” So true! A partial list of recent technological advances includes: messenger RNA (mRNA) gene therapies, […]
Strong Growth in Q2
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist July 19th, 2021 Another quarter for consumers to rely on massive stimulus payments, extremely loose monetary policy, and the continued re-opening of the US economy combined to push real GDP up at a very rapid pace in the […]
Jack Scott (1942 – 2021) – A Tribute
My long-time mentor and dear friend, Jack Scott passed away in April. I was honored to offer a eulogy at his memorial service recently, and I want to share what I said with you, my clients, friends, and colleagues. Some of you knew Jack; some of you have at least heard about Jack; and for […]
4,500…Or Higher
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist July 12th, 2021 Many are convinced that a US stock market correction, or even a bear market, is inevitable. So, when the S&P 500 was down 1.6% last Thursday, many thought it had arrived. Then, the S&P 500 […]
“Twin Deficits” Won’t Tank the Dollar
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist July 6th, 2021 Many analysts have been thinking and writing about the “twin deficits” and whether the record-breaking size of those two deficits, combined, mean the US dollar is about to plummet versus other currencies. Before we get […]
Who Will Be the Next Fed Chief?
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist June 28th, 2021 One of the key decisions President Biden will make later this year is who is going to run the Federal Reserve for the next four years. Current Fed chief Jerome Powell’s term as chairman runs […]
The “Fake Tight” Labor Market
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist June 21st, 2021 Is the United States’ job market tight? Well, that totally depends on your perspective. From a national perspective, it certainly isn’t tight. Total nonfarm payrolls were 144.9 million in May 2021, still down 7.6 million […]
Taper Tantrum Two?
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist June 14th, 2021 To drive home his commitment to easy monetary policy and low interest rates in mid-2020, Federal Reserve Chairman Jerome Powell declared the Fed was not even “thinking about thinking about raising rates.” The Fed meets […]
There’s Nothing Normal About This Recovery
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist June 7th, 2021 We keep hearing people make comparisons between this recovery and those of the past as if it’s apples-to-apples. For example, comparing job growth today to job growth after the 2008-2009 Panic. All in an effort […]
Inflation Revisionism
Post from First Trust Economics Blog Brian S. Wesbury – Chief Economist Robert Stein, CFA – Deputy Chief Economist June 1st, 2021 Talk about revisionist history! A recent tweetstorm from an opinion leader at the NY Times says that, looking back, he wonders what all the fuss was about inflation in the 1970s. It wasn’t “that high,” […]
