By Scott J. Brown, Ph.D., Raymond James
A Slowing Recovery – Amid extreme social distancing, economic activity took a major hit in March and April. The initial rebound in May, June, and July was strong, but partial, and the pace of improvement appears to have slowed in August. The easy part of the recovery is done. It gets harder from here.
This Week – The focus is expected to be on the Fed, not that there is any suspense in what it will do. Financial market participants will look to the Fed’s revised economic projections and Chair Powell’s press conference. Powell is expected to speak further on the Fed’s revised monetary policy framework.