US Economic Update – June 2021
Fed – Still dovish but less than previously thought.
Key highlights:
- We still expect to see very strong Q2 GDP growth supporting further labour market improvement, although progress has been held up by labour supply issues.
- Inflation pressures remain elevated; while partly due to supply shortages or to prices in some sectors recovering from depressed levels, there has also been a broader pick-up in inflation.
- We still expect a QE tapering announcement later this year, with tapering to commence in early 2022, but have changed our federal funds rate call – we now forecast quarterly (25bp) rate rises starting in Q2 2023.
Find out more in NAB’s US Economic Update – June 2021
About the Author
NAB’s Group Economics consists of a leading team of economists who provide accurate, timely and relevant updates on domestic, international and industrial economic trends.
Headed up by the Group Chief Economist, Alan Oster, the team is comprised of three distinct departments:
- Australian economics and commodities
- International economics
- Industry economics
The team publish a wealth of content including reports, surveys, forecasts and indexes.
