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30th Aug 2021 00:30U.S., Economic Monitor

  • The unwinding of the Q2 stimulus boost and the Delta hit mean that consumption looks set to fall in Q3
  • …But rising business capex and a potentially massive rebound in inventories will support growth.
  • Powell's defense of "transitory" and push for full employment means no taper until data are clearer.

August bill business capex businesses capex capital goods consumption December durable goods employment fed fed chair growth index inflation inflation expectations inventories labor labor market oil oil prices orders powell productivity q2 q3 q3 growth qe remain summer u.s. wage growth

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