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RELATED INSIGHTS //
Sustainable Finance In The Midst Of Inflation And Uncertainty
Video
//
August 01, 2022
Summer Whipsaw
Thursday’s news that US GDP declined again in Q2 was widely predicted. But whether this meant that we are already in recession depended on who you listened to. The Administration, and Federal Reserve Chair Powell, pointed to other indicators – most notably employment – that still showed signs of a strong economy last quarter. The reported Q2 contraction of 0.9% was also less bad than Q1’s 1.6% decline, although consumption data were weak: so, are things getting better or worse? Friday’s inflation numbers also left uncertainty about what is to come. Disappointingly, they showed that June PCE or personal consumption expenditure – the Federal Reserve’s preferred inflation measure – accelerated again. Headline and core inflation registered 6.8% and 4.8%, respectively. The widely used CPI, or consumer price index, that came out earlier this month also showed inflation up in June, by 9.1% from a year earlier. Will there be any improvement for July and August? Lower gas prices should help, but wages will be key.
Newsletter
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July 29, 2022