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‘By One Full Year’: Goldman Shifts Fed Call Dramatically
One day, we may look back on the last several weeks and chuckle at the idea that a sea change was afoot.
After all, monetary policy will still be relatively accommodative even if there is a coordinated attempt to tighten at the margins. And if central banks can just buy a few months, supply chains may begin to normalize in earnest, easing price pressures, while higher wages and better benefits coax workers from the sidelines, alleviating the labor shortage.
At that point, some of the urgency t
Mr. H:
On a short drive through my hometown of Pasadena the other day, I noticed as many as 1-2 shuttered businesses for every ten that I passed. Most of them were mom and pop type places like restaurants, hair and nail salons, small gyms and yoga studios. All of them were hit hard by Covid, and my guess is that many of them will not reopen anytime soon for just that reason, especially if cases continue to wax and wane. With government aid for these kinds of businesses nearly exhausted, is anyone keeping track of these small business failures and their impact on our economy? Do these small business owners, and their employees, represent a large portion of our unemployed population that has resisted taking other “available” jobs in our service economy? I know that residential real estate prices are through the roof, but what about the cost or rents for small commercial spaces? Is it at least falling to some appreciable degree? How is “transitory inflation” currently affecting small business start-up costs? Truly, there can be no “full recovery” until these businesses get back on their feet too.