FED The Federal Reserve noted that the economy “downshifted slightly” in August. The renewed surge in covid may force the Fed to postpone tapering their bond purchases to 2022.
CHINA ECONOMY China’s Central Bank said that they will not embark on a large-scale stimulus plan, despite an economic slowdown.
JOBS The August jobs report indicates that wages are rising. Despite weak hiring, average hourly earnings are up 4.3% year over year.
SUPPLY CHAINS Automakers fear that the global chip shortage may persist for several years. The auto industry is one of many facing supply chain issues as they have been severely disrupted the last 2 years.
REAL ESTATE The S&P/Case-Shiller index for home prices rose 19.1% year over year, the largest increase in its history going back to 1987.
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