The Transcript 10.12.20

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Succinct Summary: The economy has had a strong but incomplete recovery.  The worst seems to be over but there's still a long way to go.  For many industries, this looks like a K shaped recovery. 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.

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. 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.

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. 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.

The Transcript 07.27.20

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Succinct Summary: The economy was rebounding in May and June, but the recovery seems to have stalled out as infections have rebounded.  CEO commentary was particularly negative last week.  Business leaders are rapidly losing confidence and do not see a V-shaped recovery materializing.  There's a sense that government stimulus appears to be the only thing propping up the economy and it's creating distortions in unemployment and financial markets.  Still (perhaps because of this stimulus) the hot housing market suggests that consumers may not actually be in such bad shape after all--just spending on different things. 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.

The Transcript 06.22.20

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Succinct Summary: Demand continues to bounce back but there are signs that a second wave of Covid may be bubbling up. 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.