Excerpt from...

Retail Sales Rise in September Better Than Expected

By Tim Smart - Oct. 15, 2021



Also weighing on the economy and markets is the Federal Reserve Board's planned withdrawal of monetary support to the economy. Minutes of the Fed's September meeting released Wednesday showed Fed officials expect the central bank to begin "tapering" its $120-billion-per-month purchases of Treasuries and mortgage-backed securities as early as next month.

"As the fourth quarter begins, it appears that the Delta surge is abating, and more folks are getting vaccinated," Patricia Healy, Cumberland Advisors senior vice president of research and portfolio manager, wrote on Thursday. "However, pandemics generally take years to run their course, and we could yet see additional variants and spikes in infections, as well as the effects of Long COVID on the economy."

"We are nevertheless getting used to attending to our normal daily activities and visiting with loved ones, using precautions," Healy added. "In addition to the virus, global issues such as restrictions in China, developments in the Middle East, the energy transition, and supply chain disruptions may be with us for a while longer, putting a damper on growth while increasing prices and wages."

Read the full article at the U.S. News & World Report website: https://www.usnews.com/news/economy/articles/2021-10-15/retail-sales-rise-in-september-better-than-expected

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Patricia Healy, CFA
Published Date
News Source
U.S. News & World Report