11: One Month Does Not a Trend Make

After Office Hours with Puget Sound Economic Forecaster

Join James, Hart, Bethany and newcomer Audrey as they discuss the current events of the economic day! In this episode the team covers the current forecast of Covid impacts, Inflation and recession risk, how supply chain entanglements and what people are spending money on, impacts inflationary pressures. Hart will discuss Fed actions, projections and CPI vs PCE. The team also covers the impact the war in the Ukraine may have on the local economy. Which drives a look into how a cultural shift to source locally is adds fuel to the inflation fire. The topic them moves to housing bubbles and how a clearing of supply chain in construction products coupled with a shifting of commercial space use to residential, will actually help drive higher housing supply. Employment and the labor market is discussed by the entire team, with Audrey adding her perspective on what it is like for folks just entering the workforce. Bethany take a moment to discuss the monthly updates, and how things are looking up in the economy. But remember, one month of good data doesn't equal a trend.