This is a stunning chart from Bank of America
On an annualized basis the flows into equity markets in the first 6 months are greater than the prior 20 years combined…..
This really is something, well done Jerome pic.twitter.com/9z2OwT7hzY
— Avid Commentator 🇦🇺 (@AvidCommentator) July 2, 2021
The U.S. economy will roar to life for the rest of this year and remain supercharged through 2022, the Congressional Budget Office said Thursday, though the analysts also warned Americans to expect inflation to rise “sharply” for several months.
The unemployment rate will fall to 4.6% at the end of this year and be back to pre-pandemic levels at some point next year, said CBO, delivering a glowing picture on the most politically important yardstick.
Americans who saved up during the pandemic are looking to spend, creating strong demand for goods and services. Inventories aren’t ready to handle that demand right now, thus the spike in inflation. The analysts said supply and demand will even out quickly and inflation pressures will dissipate by the end of the year.