The Monday Mix: July 19 – 25, 2021

hand holding a coffee cup and newspaper

Headlines discussed at LNWM’s Monday morning briefing:

Peak US economic growth is expected for 2nd quarter 2021 (+9.2% vs. 2nd quarter 2020);  2% – 3% growth is expected in 2022 as pandemic drop recedes.

US housing starts rose 6% in June (vs. year ago) but building permits fell 5% on rising costs, shortages.

The federal ban on mortgage foreclosures ends July 31 or Sept. 30, affecting nearly 2 million households; mortgages may be restructured to lower payments.

Weekly jobless claims rose to 419,000 (vs. 350,000 expected), with some 12.6 million people on unemployment (vs. more than 30 million at height of pandemic).

The US needs to spend $1 trillion annually to fight climate change (vs. $200 billion now) to meet 2035 and 2050 clean energy goals, per US energy official.

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