From Sizzle to Fizzle
​The US economy showed further signs of losing steam this week. Importantly, the recent economic malaise appears to have infected US consumers – a reliable and robust source of growth. Quite frankly, we are somewhat struck by how sudden and widespread the downturn has been. MIG believes downside risks to upcoming economic data will remain elevated for the next few months – especially next week’s NFP report.
Meanwhile, the Fed has continued to make the case for policy action this year based on tightening labor markets and strong job growth. The December FOMC meeting is more than ten weeks away and given elevated economic and political risks it is very likely to be bumpy ride until then. Indeed, the world may look very different by the time of that meeting.
MIG provides investors with clarity on markets, macro and monetary policy. It combines a rigorous analytical approach with unique insight into central banks based on over a decade of experience. Clients appreciate our clear and accessible communication style
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