To round out the week, we’ve got a couple of economics stories to share with you. As you may know, least week the Federal Reserve met and voted. They’re going to keep interest rates pretty much where they are, and they’re stating that until the labor market has recovered fully. Again, this is a state by state, city by city thing. Where we are in the Tennessee Valley, and most places in the south, we have very low unemployment, and the economy’s going like gangbusters, almost as if the pandemic never happened. Although, I’m sure it will pick up some more as the rest of the world recovers and gets back to whatever normal is going to be.
So good news. The market seemed to like. We can pretty much expect interest rates to stay near zero for about another 12 months.
The other story we want to talk about is the monthly report from the conference board based on their Consumer Confidence Survey. The article has a nice little graph… almost back to pre-pandemic levels. Frankly, we’re almost back to 2019 levels. They do put out a numerical calculation. Huge bounce in March. We’re up to 121, and the pre-pandemic level was 132.6. We expect fully in May and June we will be back in the 130’s, and beyond that, back to normal as far as consumer confidence goes. This consumer confidence rating that the conference board has done for years has been a pretty good indicator of how the economy will perform.
We’d love to discuss this with you! If there’s anything we can help you with, please reach out and give us a call.