When COVID hit us, we flopped like a rock. We gave Americans five and a half trillion dollars. That boosted the economy way above the trend line and we've been trying to get back to that trend line since. In in 2019 we were at $500 billion a month of retail sales. One would have said that by 2023 we're going to be maybe at $550 billion but we're currently at $600 billion a month and we've been there now for 18 months. Right now it's still nail biting territory for retails companies like Macy's, Walmart, Amazon or Target. The big fear is how do we converge back to the trend line? And if you do converge, is it by sales falling like a rock, recession or is it by over time where the difference begins to fade away?
Tune in to find out what grade Jerome Powell and the Federal Reserve get from Prof. Kemmsies.
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