Payne's Perspective: June 7, 2021: Must Get Folks Back To Work
It was a short, yet consequential week. The economic juggernaut is meeting unanticipated headwinds, and now questions are rising. Housing data has become flaccid because there is not enough supply. Manufacturing is strong, but there are supply issues that have led to record price increases. There is no way demand will hold up against this kind of pricing pressure. Folks will find cheaper alternatives or simply delay, or skip purchases, including homes and autos.
The other macro issue is the pace of vaccinations. America continues to whittle down the numbers, including cases per day, which have come down a remarkable 95%, since January 31. Consequently, most states are open for business, and most have rescinded their mask mandate.
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