How Monetary Policy Undermined American Resilience

<p><strong>Today on the Brief:</strong></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Jobless claims slightly exceed expectations at 884,000</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">ECB keeps policy unchained; euro rises versus dollar </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Survey: What’s the right way to understand the business and market cycle in the U.S. today? </span></li> </ul> <p><strong>Our main discussion: interest rates and the undermining of American resilience. </strong></p> <p><span style="font-weight: 400;">In this discussion, NLW looks at a number of artifacts of the low interest rate world, including:</span></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Increasing cost of child care </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Declining share of total net worth held by bottom 50% </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">New startups using lottery tactics to incentivize savers</span></li> </ul>