All Posts Tagged: Scott Anderson

U.S. Outlook: ‘You’re hired’ — July jobs report sizzles

Scott Anderson
Chief Economist

The Bureau of Labor Statistics reported another all-around solid jobs report for July. The U.S. economy created 209K net new jobs last month, easily beating consensus expectations for 180K jobs.

Graph showing job growth by sector in July.We have now had two consecutive months of 200+ jobs, so I guess you could say the economy is batting a thousand when it comes to the labor market.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on Aug. 4.

Key observations:

  • Job gains in July were led by private service providers.
  • The jobs report is strong enough to keep the Fed on course for a September balance sheet reductions announcement, and it will keep a December rate hike from the Fed on the table.
  • Some FOMC members could begin to worry that the labor market is running a little too hot right now.
  • It’s premature to conclude the U.S. economy is breaking out of its 2% trend growth rut, though we do think GDP growth in Q3 will come in closer to 2.6% than 2.0%.

Click here to read my full report.

 

 

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U.S. Outlook: U.S. GDP rebounds to a respectable pace in Q2

Scott Anderson
Chief Economist
Graph showing quarterly GDP growth (actual and projected through next year)

The rebound was driven by a marked improvement in real consumer spending growth to a 2.8% annualized pace from a 1.9% pace in Q1.

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Instant Analysis: July FOMC statement

Scott Anderson
Chief Economist
Closeup of intricate window designs on the Federal Reserve building.

The FOMC dropped a big hint in today’s FOMC  statement that implementation of the Fed’s balance sheet normalization plan will take place “relatively soon.” 

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U.S. Outlook: Fed balance sheet reduction is right around the corner

Scott Anderson
Chief Economist
Graph showing trends as a result of Fed balance sheet reduction

The summer is just flying by, and that means another FOMC rate decision and statement next week.

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U.S. Outlook: Where did inflation go?

Scott Anderson
Chief Economist
Graph showing rises and (recent) dip in consumer inflation trends.

As recently as March, inflation appeared to be heating up.

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