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5 Minutes with Scott Colbert - 5/4
In an effort to combat the worst inflation in 40 years, the Federal Reserve said it’s raising the federal funds rates...
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In this video edition of “Five Minutes With Commerce Trust Company Chief Economist Scott Colbert,” Scott explains why he believes U.S. economic growth could still exceed 4% this year despite the headwinds from spiking inflation and the knock-on effects of stubborn supply chain disruptions during the pandemic. Key drivers of Scott’s optimistic growth picture include the continued favorable impact of ultra-low interest rates, ongoing fiscal stimulus, and the seldom-discussed effect of excess savings that consumers currently have on the sidelines. By some measures, this built-up excess could be in the neighborhood of $2.7 trillion, and will eventually find its way back into the economy.