As Omicron fades, US Recovery Tracker gains

The US Recovery Tracker rose 1.3ppts to 98.4 in the week ended February 18, its highest level in two months as the spread of the Omicron variant slowed and demand for services accelerated.

What you will learn:

• Nearly all our 50 State Recovery Trackers rose, with states on the Pacific coast and in the Southwest & Mountains regions leading the charge.
• We look for the tracker to carry solid momentum into March even though tighter financial conditions will prevent more robust growth.
• The war in Ukraine will engender more financial market volatility and raise the price of oil and gas, grains, and metals – reinforcing already strong US domestic price pressures and making it harder for the Fed to tame inflation.