September Economic Review: Job strength fueling wages and growth
SEP. 18, 2018
Economic Review: Business/consumer surveys soar; job gains rebound
The ISM and NFIB surveys set new highs (or were close), while consumer confidence soared. Not surprisingly, job growth remained solid with a rebound in August — and the fastest wage gains in the expansion.
Financial Markets Review: Emerging market problems are emerging
A number of emerging markets are experiencing increasing economic difficulty, causing their currencies to plummet. The risks of a 1997-98 EM-type crisis are rising. Still, U.S. equity prices have climbed to or near all-time highs.
The Outlook: A soft landing? Probably not
In the past, the Fed has tightened to keep inflation from accelerating, but the resulting inversion of the yield curve has helped cause a downturn. Only rarely has the Fed been in a position to tighten, stabilize inflation, and create a soft landing. The odds don’t favor that happening this time.
Go deeper with the full September report linked below.
NFM-11356AO.3