A Recession? In Taylor’s Economy? For two years, everyone from Dr. Doom to Elon Musk has been warning of an imminent recession
For two years, everyone from Dr. Doom to Elon Musk has been warning of an imminent recession, and yet the Nasdaq 100 is up by 23% this year — within spitting distance of a 52-week high.
Jonathan Levin says it’s clear that the pessimists were premature. The surprising batch of optimism is causing people in the storied soft landing camp — once looked at with incredulity — to breathe easier.
Isabelle Lee notes that “out of nowhere, regional banks in the US enjoyed their strongest rally since 2021” last week, adding to the bullish vibes.
The Federal Reserve Bank of San Francisco estimates there’s still a ton of excess savings floating around the economy — some $500 billion.
“Economists are looking clueless. Despite elevated levels of inflation and interest rates, consumers are hardly cracking as many have predicted,” Robert Burgess writes.
Jessica Karl Bloomberg 21 maj 2023
Where Did the Rally Come From?
John Authers Bloomberg 19 maj 2023
https://englundmacro.blogspot.com/2023/05/where-did-rally-come-from.html
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Many households also feel rich because house prices have risen sharply also in the United States.
Många hushåll känner sig också rika eftersom huspriserna även i USA har stigit kraftigt.
The Taylor Rule
https://englundmacro.blogspot.com/2020/10/whos-afraid-of-rules-based-monetary.html
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