US Economic and Market Summary & Outlook
This section of the Economics Uncovered website is scheduled to be regularly revised on an ad-hoc basis in order to better help you to navigate the complex outlook for the US economy and financial markets. To easily keep up-to-date with my latest insights and to review any section of interest, please bookmark this page for easy access.
Last updated: 5 July 2024
Report outline
Executive summary
Money supply, bank credit & liquidity
M2 begins to rise, but growth remains relatively constrained
Bank credit impacted by higher interest rates and QT, but it has returned to growth
Abundant liquidity and a large federal government deficit drives bank deposit growth, stimulating the economy and breaking the link to QT
While the RRP boost is getting closer to an end, a broadly favourable liquidity backdrop is expected in 2H24 — but will it be enough to materially boost the US economy?
GDP, personal spending and income
1Q24 real final sales to domestic purchasers growth moderates as real PCE growth deceler…