FEATURED POST
September 25, 2023
MainStreet Macro: Chasing Growth
This week, in the absence of a video, I’d like to set a scene with words. Imagine you’re a hero, tracking a villain dead-set on mayhem. The fate of the economy hangs on your every move.
Fraught with more tension than The Dark Knight, central banks around the world have been doing just that, turning their laser sights on interest rates as they try to chase down high inflation. Every decision carries high stakes, with the threat of a slowing economy menacing at every turn. It’s a fact that many economies don’t just fall into recession; they’re driven there by central banks that hike rates too aggressively.
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MainStreet Macro: Inflation’s construction zone
Last week delivered some good news: Inflation was up 3 percent from last year, the slowest 12-month increase since March 2021.
Inflation was even lower in many areas of consumer spending, but one part of our economy that is continuing to see prices soar is shelter.
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MainStreet Macro: At your service
Data on the overall health of the economy delivered good news in June to round out the first half of the year. The economy created 209,000 jobs last month, according to the Bureau of Labor Statistics, and the ADP National Employment Report found that private employers added 497,000 new workers.
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MainStreet Macro: Add this must-have summer data to your economic toolbox
Summer is here, and with it, the return of peak homebuying season, a time when families rush to find their dream house before school starts in the fall. Even if you’re not a homeowner and have no interest in buying, this pickup in activity can have consequences for you. Homebuying season comes with an abundance of important data on the housing market, which in turn can tell us a lot about consumers and the economy.
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MainStreet Macro: To pause or not to pause? Maybe that’s not the question
The Federal Reserve has raised interest rates 10 consecutive times, taking the benchmark federal funds rate from near zero up to more than 5 percent.
This week, Fed policymakers meet again to decide whether to move rates again – or not. Economists are divided as to whether the central bank should pause their rate hikes this month or keep them coming.
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MainStreet Macro: Gen Z joins the workforce
It’s graduation season. Some young adults will head to college, and some college graduates will continue with their studies. But most members of this year’s graduating class will become new entrants into a dynamic and evolving post-pandemic labor market.
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MainStreet Macro: Answering questions, and raising new ones, about the complex world of work
This week, ADP Research Institute launches Data Lab, a centralized and in-depth repository of research and information on the economy and labor market.
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MainStreet Macro: The next inflation risk
Lately, I’m reminded of inflation during my morning exercise class. While the first 50 (OK, 35) sit-ups are fast and easy, after that my pace starts to slow. By 60 reps, I’ve gone from fast and easy to slow and irregular.
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MainStreet Macro: The Big Quit is over. Here comes the Big Stay
Last year, workers resigned from more than 50 million jobs. It was the highest number of quits since the government started keeping track in 2000. The great resignation, as it came to be known, was fueled by abundant job opportunities, labor shortages, and big pay increases for workers who quit one job to take another.
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