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New Outbreaks Are Causing Regional Disparities in Consumer Sentiment
Consumer attitudes are improving along with the easing restrictions, but significant concerns regarding the outlook remain, especially with regard to new outbreaks in some states.
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Easing Restrictions Helped Boost Wages in May
Consumer spending rebounded in May as lockdown policies eased but massive distortions to economic activity continue.
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The Reluctant Fed
“Fed officials should follow the example set by Ben Bernanke. They should be ‘extremely reluctant’ to engage in facilities like the MSLP, SMCCF, and PMCCF. Such programs are ‘outside the range of [the Fed’s] responsibilities.’ They are fiscal policies that ‘are best resolved by Congress’ since they require ‘balancing political and social priorities.'” ~ Thomas L. Hogan
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Small Convertibles are Safer? Why?
“A seemingly dangerous car makes the driver aware of the dangers of hurling down the road at high speeds while being surrounded by drivers who are clueless about how terrifying driving truly is. Having such awareness is crucial to driving safely and defensively. That is why there are fewer crashes and fewer deaths in convertibles.” ~ Jeffrey Tucker
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