The US economy is at a critical juncture in its recovery. Importantly, after a rapid first phase of recovery, the economy has now entered the second phase of its rehabilitation with much less momentum.
What you will learn:
- Households face major income cliffs as fiscal support fades, while still-widespread virus cases are also making them cautious.
- Labor market vulnerabilities are spread across the US but are currently greatest in Eastern states.
- China’s recovery has made it the US’ main export market during the crisis, but trade deal targets are still out of sight and political relations have soured.
- Inflation risks are still heavily tilted to the downside amid a stagnating recovery, reduced fiscal relief, and an ongoing health crisis.
Business and economic outlook,