Bank CEOs kicked off earnings season with a consistent message that household finances and demand are in solid shape. Procter & Gamble Co., which counts Tide, Bounty and Pampers among its brands, has seen consumers reaching for premium-brand products. Bank of America Corp. and credit-card giant American Express Co. noted solid travel demand.
Economists are getting a dose of humility on forecasting inflation after a resurgent coronavirus, a tenuous global supply network and stimulus-fueled consumers combined to send U.S. prices well beyond the expectations of Wall Street and policy makers.
An unexpected jump in U.S. wages has given financial markets a new reason to worry that higher inflation may be here to stay.
As the U.S. job market comes roaring back, there’s a growing debate about whether there are enough workers to power faster economic growth.
With Democrats on the verge of passing an almost $2 trillion stimulus bill and Covid-19 vaccinations moving ahead, the U.S. economic outlook is much sunnier than it looked in early January.
