The economy is booming. 5 reasons that could change in 2022

The hope is this rapid expansion continues in 2022, allowing the country to heal most of the economic wounds caused by the health crisis. The jobs market could return to full employment by the end of 2022. And red-hot inflation is expected to finally cool off, moving towards healthier levels.

And yet, the past two years have shown how unforeseen events can alter forecasts, sometimes dramatically.

For all its recent strength, the economy’s recovery faces multiple risks in 2022, starting with the force that continues to dominate daily life: Covid.

Covid doesn’t go away

The hope is that Omicron is spreading so rapidly that it burns itself out, making its impact short-lived. But what if this latest wave sticks around long enough that it puts a dent in consumer demand — especially in Covid-sensitive sectors like travel and restaurants?

“The pandemic remains the single largest potential disruptor of the domestic and global economy,” said Joe Brusuelas, chief economist at RSM.

The bigger risk is that an even more menacing variant emerges, with more severe symptoms and the danger that it evades vaccines and booster shots.

Wall Street appears to be unfazed by both these risks, at least not lately. Record highs in the stock market suggest investors are betting neither Omicron nor another variant will prove problematic.

“I hope they’re right,” said David Kotok, chief investment officer at Cumberland Advisors. “This is a mutating disease. We’ve now had two years of experience. What makes anyone believe Omicron is the last one?”

Supply chains stay scrambled

Omicron arrived just as stressed-out supply chains — one of the biggest drivers of inflation — were beginning to show glimmers of hope.

The Delta variant earlier this year piled additional pressure on supply chains by getting workers sick, making them scared to go to work and introducing new health restrictions.

It’s too soon to say whether the same will happen now at the factories, ports and trucking companies that keep the economy humming.
Mark Zandi of Moody's plans to dim his US economic forecast after Omicron concerns

“It is possible that Omicron disrupts supply chains even more and will be a drag on growth and investment,” said Vincent Reinhart, a former Federal Reserve official who is now chief economist at BNY Mellon.

The good news is the Omicron wave is hitting at a time when demand typically cools off, which should give supply chains a bit of extra breathing room to deal with the new variant.

Inflation stays hot

Consumer prices rose in November at the fastest pace in 39 years, driving up the cost of living for families. Goldman Sachs expects inflation will heat up a bit further in the coming months, before cooling off considerably later in 2022.

One risk is that new Covid-related bottlenecks limit supply, lifting prices even higher. Another concern is that inflation continues to spread and gets further ingrained in the psychology of consumers and business owners, which in turn could cause a negative feedback loop that drives inflation higher.

High energy prices have been at the heart of the inflation spike, most notably prices at the pump. Another spike in oil prices, as some on Wall Street have been calling for, would darken the inflation picture.

A Fed policy mistake

After nearly two years of unprecedented support, the Federal Reserve is finally taking its foot off the gas pedal — and preparing to tap the brakes very soon.

In a bid to fight inflation, the Fed is planning to end its bond-buying stimulus program around March and has penciled in three interest rate hikes for next year.
America runs on bad jobs

Given the strength of the recovery, the economy should be able to absorb those rate hikes without negative repercussions. Borrowing costs will remain historically low.

“My sense is the economy is in a pretty good place right now. The Fed has a lot of bandwidth to work with,” said RSM’s Brusuelas.

Investors tend to agree, with markets signaling confidence that the Fed will deftly exit emergency mode without harmful side effects.

But there is a chance the Fed overdoes it by raising rates faster than the economy, or financial markets, can stomach. And that could severely slow down or even end the recovery.

No more help from Uncle Sam

After providing nearly $6 trillion in Covid relief during the first two years of the pandemic, federal support for the economy is projected to slow sharply in 2022.
That was always going to be the case, but the trend will be more pronounced given the apparent demise of the Build Back Better Act, including the enhanced child tax credit.

“We are going to run an experiment on how much of this robust expansion is due to fiscal support and how much from private activity,” said Reinhart. “We don’t know.”

The unexpected

Any list of risks to the economy must include wild card events that few expect but could still have a big impact.

The best example would be a massive cyberattack that sets off turmoil, either in the real economy or in financial markets, or both.

Federal pandemic aid runs dry as businesses deal with Omicron's impact
The hacking of the Colonial Pipeline earlier this year showed just how vulnerable critical infrastructure is to the cyber threat. A recent report from the JPMorgan International Council warned that cyber is the “most dangerous weapon in the world, politically, economically and militarily.”

Fed Chairman Jerome Powell openly worried earlier this month about the potential impact from a cyber intrusion that could take down down a big bank or a key cog in the financial system.

There are countless other wildcard risks beyond cyber, everything from a war and a natural disaster to a crash in the crypto market.

“You’ve got to be humble. Almost nobody had a pandemic on the radar screen in 2018 and maybe not 2019,” Reinhart said. “Is it possible in 12 months that all we will talk about is something we are not talking about now? Yes.”

Pandemic Home Remodeling Is Booming

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They can all be modified to make your own home more marketable, and there are cases where buyers are on the lookout for this stuff. The greatest way to resolve on what changes to make to your house earlier than attempting to sell is to speak to a real property agent. Founder Lynda Reeves together with her super-team of experts have put together this weblog. House and Home characteristic inventive indoor and out of doors design ideas and videos that will assist add a little bit of edge to your personal home.

What Its Really Like Being On A House Improvement Present

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Whether you’re planning to renovate your older home or construct a model new house, you’ll discover an intensive collection of ideas to encourage you. When it comes Home Improvement to restyling, redecorating, and sprucing up your house, the massive query is where to begin.

Top Trends In Diy Home Improvement

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Time For Tax Tasks

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Global Financial Wellness Program Market 2020 Booming Strategies of Top Companies, Progression Status and Business Trends to 2025

The MarketWatch News Department was not involved in the creation of this content.

Jan 28, 2021 (CDN Newswire via Comtex) —
MarketsandResearch.biz has added a new report Global Financial Wellness Program Market 2020 by Company, Regions, Type and Application, Forecast to 2025 that contains aggregate information of the market’s current situation and future prospects. The report provides an expert and in-depth analysis of the market with all the required useful information about this market. The report examines various producers, unions, organizations, suppliers, and industries under the market. It delivers meaningful information on segmentation, estimated growth trends, key drivers and restraints, profiles of major market players, and forecasting, and many other crucial components relevant to the global Financial Wellness Program market. It also covers the fundamental projection related to the growth and management of the global market.

Profit and Sales Assessment:

Profits and sales are verified for various components of this international market. Another crucial aspect, the price which plays a vital role in the development of sales can be evaluated with this report for several regions. It contains details of global Financial Wellness Program market size, regional and country-level market size, segment growth, market share, competitive landscape, sales analysis, value chain optimization, recent developments, and opportunity analysis. In addition, the report contains the calculation of the key elements such as demand, growth rate, cost, capacity utilization, import, margin, and production of the global market players.

DOWNLOAD FREE SAMPLE REPORT:https://www.marketsandresearch.biz/sample-request/103023

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

Moreover, the report discusses various components and growth propellants such as dominant trends, existing challenges, and restrictions as well as opportunities. With this report, various companies and research experts will be able to make profitable decisions in the future. Various market growth tactics and techniques that are leveraged by industry players are further mentioned in this report. Many global players in the global Financial Wellness Program industry have been studied based on their company profile, product portfolio, capacity, price, cost, and income.

Market competition by top manufacturers as follows: Mercer, Edukate, Morgan Stanley, Fidelity, My Secure Advantage (MSA), Prudential, Wellable, Health Advocate, Bridge Credit Union, BrightDime, Prosperity Now, Interface, Your Money Line, SmartDollar, KeyBank, Financial Fitness Group, PayActiv, Enrich

The type coverage in the market are: For Employers, For Employees

Market segment by applications covers: Large Enterprises, SMEs

Market segment by regions/countries, this report covers: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)

This report sheds light on the sales of the Financial Wellness Program on the regional- and country-level. This data provides a detailed country-wise volume analysis and region-wise market size analysis of the global Financial Wellness Program market. It also elaborates on global trading factors such as import, export, and local consumption. The report has a detailed scope to cover all the possible segments, helping every stakeholder in the market.

ACCESS FULL REPORT:https://www.marketsandresearch.biz/report/103023/global-financial-wellness-program-market-2020-by-company-regions-type-and-application-forecast-to-2025

Spotlights of The Report:

  • The report shows the global Financial Wellness Program market by type and application, with sales market share and growth rate by type, application

  • It forecasts market, by regions, type, and application, with sales and revenue, from 2020 to 2025

  • It defines industry introduction, market overview, market opportunities, product scope, market risk, the market driving force

  • The top manufacturers of the market industry are assessed, with sales, revenue, and price, competitive situation among the top manufacturers, with sales, revenue, and market share

Customization of the Report:

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The MarketWatch News Department was not involved in the creation of this content.