Sharkey, Howes & Javer

This week on “Inside the Economy”, we discuss Employment and Inflation. We are currently seeing elevated costs of employment, along with low jobless claims, but what does that mean for the economy going forward? Inflation continues to remain at elevated levels, but will the Federal Reserve raising interest rates help to bring it back down? Tune in to learn about this and more! Key Takeaways: • Oil above $100 • Natural gas prices increase • 30-year mortgage rates up to 5% • 2021 average tax returns see a boost

This week on “Inside the Economy”, we focus on the consumer and corporate profits. The labor force participation rate is climbing and has almost returned to pre-pandemic lows. Mortgage rates are rising, up almost to 5% on a 30-year fixed. Will this impact household spending? How about savings? Corporate profit margins turned in another good quarter. Tune in to learn about this and more! Key Takeaways: • Oil stays around $100 per barrel • Mortgage payment to income ratio climbs • Major indices have started to rebound from recent lows.

This week on “Inside the Economy”, we discuss the Federal Reserve and energy prices. As the Federal Reserve raises interest rates, how will that effect inflation and where do we think interest rates will be by the end of the year? Energy prices are sitting at elevated levels, but how long will this persist and what does supply look like going forward? Tune in to learn about this and more! Key Takeaways: • Oil stays above $100 • Equity markets rebound on earnings outlook • 30-year mortgage rates up to 4% • Retail sales up 8% from pre pandemic levels • Unemployment under 4%

Inside the Economy: Ukraine by SHJ Wealth Advisors

This week on “Inside the Economy”, we discuss the FED meeting and the economy. With the upcoming FED meeting this week, what comments do we expect to see on inflation and interest rates, and how will that effect markets? The economy continues to move along nicely as we saw all-time highs in holiday sales and household spending continuing to rise, but where do supply chain issues, wages, and inflation factor into this story? Tune in to learn about all this and more! Key Takeaways: - Equity markets turn down to start 2022 - Crude Oil up past $85 - Increase in mortgage rates

This week on “Inside the Economy”, we discuss inflation and government spending. We continue to see inflation at elevated levels, but with low wage growth, a strong dollar, and core services inflation sitting around 4%, where do we see inflation going in the future? State and Local Governments are seeing an uptick in revenues as they continue to get some help at the Federal level. But once the Covid Federal support for the consumer goes away, how much will they be on the hook for? Tune in to learn about all this and more! Key Takeaways: - S&P 500 Price/Earnings leveling off - Crude Oil continuing to stay around $70 - Jobless Claims continue to decrease

This week on “Inside the Economy”, we discuss a few different topics. Jobless claims are trending down and permanent job loss from 2020 has recovered quicker than in 2008 and 2001. Some countries have tapped into strategic oil reserves and the recent price decline reflects the impact of extra supply in the market. Estate Tax revenue has been cut in half since 2017. How will the government look to increase future revenue? Tune in to find out! Key Takeaways: - Savings rate have reversed to pre-pandemic levels - 10-year treasury is starting to tick up - M2 Money Supply continues to grow

This week on “Inside the Economy”, we discuss numerous topics. Jobless claims continue to drop, trending towards pre-pandemic lows. Inflation numbers continue to make headlines. Is inflation coming from the push or pull side? What’s the difference? Revenue of the largest U.S. companies continues to trend upwards. How has the recovery been overseas? Tune in to learn about all this and more! Key Takeaways: - 30-year mortgage rates slightly drop below 3% - Employment growth has favored higher educated workers - Oil inventories and demand are trending towards pre pandemic levels

This week on “Inside the Economy”, we discuss the FED and the consumer. With the upcoming FED meeting this week, we are seeing the market has already reacted to the potential of raising of rates in the somewhat near future. But with the yield curve already flattening and mortgage rates rising, what do we anticipate from the FED over the next 12 months? The consumer is still King as we see consumer spending continuing to rise into the holidays, delinquency rates in single family homes moving down, home sales increasing, and unemployment numbers getting back to pre-covid levels. Tune in to learn about all this and more! Key Takeaways: - Projected US GDP comes in at 2.0 YOY for the 3rd Quarter 2021 - Wages and salaries continue to increase at a steady pace - Crude Oil up to $83 due to tight supply - S&P 500 companies with record high profitability

This week on “Inside the Economy”, we discuss the individual consumer and the ongoing recovery. We are continuing to see personal income rise, along with disposable income going to debt payments at all-time lows. Will this continue as we head into the winter months and 2022? We are seeing the fastest recovery in permanent job losses when compared to the last 2 recessions, continued housing price growth, and solid YTD returns in the equity markets. Why are there so many “We are Hiring” signs still on every block? Tune in to learn about all this and more! Key Takeaways: - US GDP comes in at 6.7 YOY for the 2nd Quarter 2021 - Crude Oil prices hit $80 - Unemployment numbers continue to come down

This week on “Inside the Economy”, we gear up to follow and monitor holiday sales. Will this be a record year for sales? The stock market has seen some recent volatility due to a variety of headlines including corporate earnings revisions. Is this pull back healthy for the stock market long term? What is the annual wage of Chinese factory workers and what is the significance? Tune in to learn about all this and more! Key Takeaways: - 30 year mortgages rise to around 3% - Household cash and cash-equivalents continue to climb - Grain prices begin to pull back

This week on “Inside the Economy”, we discuss Inflation and the continued economic recovery. With inflation on everyone’s mind, we discuss where it sits currently, why it’s hanging around 3.6, and what makes us think those levels won’t be here to stay. In regards to the continued economic recovery, we are seeing continued strength in equity markets, increasing rent prices in both apartment and single-family homes, and jobless claims continuing to decrease. Tune in to learn about all this and more! Key Takeaways: - The yield curve flattens a touch over the past week - Crude Oil prices stay above 70 - Steady increases in both Employee Compensation and Gov’t Social Benefits

This week on “Inside the Economy”, we continue to analyze inflation. What are some of the key inflation indicators like money supply and the velocity of money telling us? In other topics, corporate revenues continue to climb. What does this mean for the equity markets? With so many people behind on rent, what will happen to the debt? Tune in to learn about all this and more!

This week on “Inside the Economy”, we discuss the global recovery and consumer behavior. We are seeing the global economy get back on track with a rise in corporate profits, continued low unemployment numbers, and State Revenues recovering to pre-Covid levels. With the Delta Variant becoming more prevalent across the globe, will we see this pattern continue through the end of the year? Consumer behavior is also beginning to turn up as we see increased spending volumes, low average loan balances, and core inflation remaining elevated in the short term. Be sure to tune in to learn about all this and more! Key Takeaways: - 2nd Quarter GDP comes in around 6.5% - Gas and oil markets begin to stabilize - Inventories remain at all-time lows due to supply issues - Corporate profit margins continue to recover

This week on “Inside the Economy”, we take a closer look at recent consumer spending trends. Spending has started to stabilize. What are consumers doing with their money? In other news, forbearance and eviction protection is coming to an end this week. Will it be extended? All eyes continue to be on the Federal Reserve. What will their next actions be? Tune in to learn about all this and more! Key Takeaways: - 30 year mortgages continue to drop - The 2020 recession was shortest on record - Drought in the western states continue to pose problems

This week on “Inside the Economy”, we discuss inflation and the jobs outlook. Core inflation has continued to rise, reaching about 3.4% YOY. Spending has remained muted, savings rates are at all-time highs, food and gas prices have risen, but with the Federal Reserve’s target still at 2%, where will inflation be at the end of the year? Job growth is rebounding faster than any other recession Post WWII, but when will we see full employment? Tune in to learn about all this and more! Key Takeaways: - Personal savings rates continue to sit at all-time highs - Medium home prices remain high with low market supply - Low yields continue in investment-grade corporate bonds - 2021 1st Quarter GDP estimate comes in at 6.4%

This week on “Inside the Economy”, we take a deeper look at inflation. With core inflation rising to 3.8%, is this price inflation in the market a long-term trend or transitory? Unemployment numbers continue to shrink as unemployment benefits lessen and folks get back to work. U.S. imports begin to increase again as demand for cars and other goods skyrocket. TSA Checkpoint travel numbers have drastically increased, showing that Americans are ready for a summer vacation. There is a major drought out West, which states and industries have been affected the most? Tune in to hear about all this and more! This week on “Inside the Economy”, we take a deeper look at inflation. With core inflation rising to 3.8%, is this price inflation in the market a long-term trend or transitory? Unemployment numbers continue to shrink as unemployment benefits lessen and folks get back to work. U.S. imports begin to increase again as demand for cars and other goods skyrocket. TSA Checkpoint travel numbers have drastically increase

This week on “Inside the Economy”, we will address inflation and consumer spending. Core inflation year over year jumped in April. The Federal Reserve’s target is still 2%, where will it be at the end of the year? Spending is back to where it was, however, most consumers are still sitting on a lot of cash. Will this keep inflation at bay? Tune in to learn about all this and more! Key Takeaways: - Oil is little changed despite the cybersecurity issue on east coast - 30 year mortgages continue to steady - Hourly wages pick up as service industry reopens - The U.S. dollar is still the world reserve currency, by a lot

This week on “Inside the Economy”, we discuss the increase in consumer spending and the uptick in inflation. Inflation has seen a small increase, mainly driven from the current energy sector. There has been an increase in consumer spending, with the fastest pace of consumer spending on record this past March. The question is, will it continue and where is the money coming from? Personal savings has continued to grow to all-time highs as people continue to wait to spend money on travel, entertainment, etc. Tune in to learn about all this and more! Key Takeaways: - U.S. Retail Sales rise at second fastest pace on record - Headline CPI grows higher, driven by energy, yet remains below 2% - Personal savings continue to grow to all-time highs - Earnings and profits drive stock market higher

This week on “Inside the Economy”, we discuss the recent change in inflation and the current housing market. There has been a boost in headline inflation, driven by rising fuel prices and increased travel. Is this trend here to stay or is it a temporary reaction? Personal savings grew over the last year, but consumers are looking to make up for lost time with increased spending in 2021. Low housing inventory is driving up prices, but which sector of the housing market has the lowest supply? Tune in to learn about this and more! Key Takeaways: -Retail Sales hit a new high after a year of increased savings -Headline CPI grows higher, driven by fuel prices, while Core CPI stays under 2% -Gasoline supply returns to pre-pandemic levels as travel improves -Sparce inventory in low-income housing has driven up prices, while interest rates remain low -State and local tax revenue continued to grow in 2020, despite the pandemic