US Recovery Tracker – the economy needs a booster shot
- Our Recovery Tracker rebounded slightly in the week ended July 17, rising 0.6ppts to 76.9. While the small weekly gain is no doubt encouraging, demand and employment – key pillars to this recovery – are showing some worrying fissures just as Congress is debating (and delaying) additional fiscal aid
- After a very rapid first phase of the recovery, the economy has entered the second rehabilitation phase with much less momentum and a dire need for further fiscal support. As Federal Reserve Chair Jerome Powell stressed at the FOMC press conference, policymakers should make it a priority to address the mismanaged health crisis and provide indispensable fiscal aid to the most vulnerable segments of the economy
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