The labor market has a little spring in its step. After a slow start to the year, the economy added 916,000 jobs in March and the unemployment rate dropped to 6 percent from 6.2 percent for the right reasons.
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The housing market has a major problem that has persisted for more than a year: there is a lack of supply amid skyrocketing demand.
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On March 23, 2020, stocks plummeted to the pandemic bear market bottom. The month of March was agonizing as investors endured a gut-wrenching sell-off.
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The American Rescue Plan is now law, and for all of the benefits of pushing money into the wallets of households and businesses, what could be the downside of the spending?
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On the eve of International Women’s Day, the news is not great for women who have seen more job losses than men since the start of the pandemic.
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The combination of accelerated vaccine distribution + trillions of dollars of emergency federal spending + warm weather + pent-up demand + low interest rates = Roaring Twenties for the U.S. economy.
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Bitcoin jumped above $55,000, putting its market value over $1 trillion. Just two years ago, a single bitcoin fetched $3,600.
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After a tumultuous 2020, the IRS will open tax filing season on Friday, February 12th, a few weeks later than years in the past. The deadline to file and pay any tax owed reverts to April 15th, after last year’s COVID-19 related extension.
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Nearly 25 years ago, then Federal Reserve Chairman Alan Greenspan asked, “How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?” Given the recent volatile action of GameStop stock, those two words seem to be back in vogue, prompting me to wonder: Is irrational exuberance back?
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