Captain America

Check out the accompanying pdf and chart collection. Executive Summary: The US economy has remained remarkably strong in the face of the Fed’s attempts to tame inflation at the economy’s expense. So far, so good: Inflation has been moderating nicely but not bringing the economy down with it. Today, we review the major reasons for the US economy’s resilience. … In contrast, the global economy is weak as evidenced by the plunge in oil prices. Record US oil production has helped to lower oil prices from their September peak. ... And: Joe looks at analysts’ estimate revisions activity in the wake of a strong Q3. Despite that strength, Q4 estimates are dropping at rates faster than usual.