The week ahead includes speeches from top Federal Reserve officials as well as a slew of economic data releases including home price index, consumer confidence and manufacturing PMI readings. However, the highlight of the week will be the release of the June jobs report. The labor market has been improving recently as vaccinations ramp up and businesses continue to increase staffing to handle the increase in demand. However, obstacles such as, childcare issues, ongoing pandemic concerns, and juiced up unemployment benefits continue to keep workers on the sideline and will keep the unemployment rate relatively high. I will be paying close attention to wage growth, as it is a primary driver of inflation and whether higher inflation will be temporary or sticky.
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