Founders

Paul, Federal Reserve Chair: The US economy has performed very well.

- The labor market, consumer spending, and commercial investment are strong.
- Despite labor shortages in many industries, looking at US economic data so far, a positive overall picture emerges.

- The labor market is gradually returning to a more desirable balance and is now almost as compressed as before the pandemic.
- The downward trend in inflation in the first quarter is significant due to lack of substantial progress.

- Price growth in the housing sector has been somewhat puzzling, and whether inflation will have more persistence or not, we are not sure yet.
- The delay in reflecting changes in rents in the consumer price index is more than anticipated.