Economic Quarter in Review

Chris Low, Sophia Kearney-Lederman, and Will Compernole
Delta, Bottlenecks, Persistent Inflation

The spread of the Delta variant in the third quarter postponed hopes for a summer arrival of the post-pandemic economy. Inflation slowed, but persistent supply chain bottlenecks, raw materials shortages, and difficulty hiring enough workers held firms back from normalizing capacity. The Fed indicated it could start reducing asset purchases as soon as its November meeting, shifting market focus to the tightening timeline.

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