From Headwinds to Tailwinds

(1) Top Fed heads now seeing tailwinds rather than headwinds. (2) The Powell/Brainard tag team. (3) “Gradual” remains the word for rate hikes. (4) Transitory vs structural forces keeping a lid on inflation. (5) Fed is focused on still-depressed labor force participation rate of prime-aged males. (6) House of dollars built on stronger foundation than house of cards. (7) Record net worth for households, with new highs for stocks and homes. (8) Solid rebound in owners’ equity in homes. (9) Ratio of mortgage debt to disposable personal income is down sharply.