The Week Ahead
Financial market volatility dominated the news in an otherwise light week for economic data. Concerns about the surging Delta variant are causing a reassessment of future economic growth. The FOMC meeting next Wednesday should give more clarity on the Fed’s timeline to start tapering asset purchases, which we expect to begin in early 2022. Q2 GDP on Thursday will be paired with annual revisions that could shift the narrative on the strength and composition of the recovery thus far.