Atlanta Fed President speaking
Atlanta Fed Pres. Bostic is speaking and said:
- Hopefully we will see large job numbers ahead
- Banks are not worried about loan default risk
- Does not anticipate the Fed will need to do much in response to yields.
He is seeing gains in Hospitality and leisure with some firms seeing bookings that are comparable to - or even above - 2019 levels.
Good news for the economy.
Below are the monthly changes in Leisure and Hospitality jobs since the start of the Covid crisis in March 2020. Last month, the industry saw a 355K rise after the prior 2 months showed the first declines since April 2020.
The cumulative jobs are still in negative by some 3.4M jobs. With the potential for re-openings increasing (hopefully) this industry stands to gain the most quickly. In order for it to happen, schools have to reopen so that 2 income earning couples can re-enter the work force. That is starting to happen more as well.
