The Transcript 09.21.20

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Succinct Summary: This has been an incredibly difficult operating environment but we’re all learning to live in a world with Covid.  Economic activity is much better than anyone expected and government officials are pushing for even more stimulus.  The Fed expects to keep interest rates at zero until 2023.

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The Transcript 09.14.20

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Succinct Summary: The first few weeks of September are usually filled with conferences where companies talk about long term industry trends.  This year it’s hard to look long term because things have been moving so fast.  Still, the Covid rush seems to have calmed down some and the US is getting comfortable with a new normal.  The big question on people’s minds: do we ever get back to the old normal?

The Transcript 08.31.20

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Succinct Summary: The last week of summer before labor day is usually one of the slowest weeks of the year but this year it feels like things are moving at an incredibly fast pace.  Companies are looking to the future and beginning to permanently rationalize their cost structure.  Business travel budgets are likely to be cut for a long time.  Temporary layoffs are also becoming permanent.  In the near term economic activity is still very strong though.  We’re seeing a terrific end of the summer.  And the Fed is hoping it stays that way in the fall.

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The Transcript 08.24.20

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Succinct Summary: Big retailers posted staggering comps in the second quarter as consumers shift spending towards purchases for items used at home.  Part of the strength was driven by stimulus but spending appears to have stayed strong in August even after the stimulus has waned.  November’s elections are starting to shift into focus.  And life may not get fully back to normal until 2022.

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The Transcript 08.17.20

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Succinct Summary: The Great Recession of ’08 pales in comparison to the kind of recession that we have here. The UK just recorded the worst quarterly recession on record. The virus levels remain stubbornly high in many places. The hope comes from the modest recovery in some hard-hit industries. 

Editor’s Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.