Economy Milestone | Online Shopping | Renewable Resources

Economy Milestone: The U.S. economy hit a key milestone in Q2 as it more than recouped the output lost during the Covid-induced recession. Peak growth is now in the review mirror, and rising health concerns, along with lingering supply constraints are fostering worries about the path forward with the economy. However, experts remain hopeful, looking to a bit slower growth over the next quarter.

A Win for Landlords: On Thursday, the Supreme Court lifted the Biden administration’s newest federal ban on evictions, granting a bid from a group of landlords to block the pandemic-related protections for renters facing eviction in most of the country. As it stands, the court mentioned that “the CDC has imposed a nationwide moratorium on evictions in reliance on a decades-old statue.” The court said that if the moratorium is to continue, Congress must specifically authorize it. Stay tuned.

Deep Discounts?: The Covid-19 pandemic reversed a predictable pattern in e-commerce where consumers were generally able to purchase goods cheaper online. Instead, as everyone found themselves stuck at home, online shopping increased and prices did too. And, in recent months, online prices have continued to increase. As this doesn’t follow the typical trend (July prices were up 3.1%), experts aren’t quite sure what the next few months hold.

The End is Near: More than 11 million individuals will lose access to emergency unemployment benefits at the end of the week, creating a headwind for personal income and consumer spending. Twenty-five states had already terminated benefits for roughly 3.5 million individuals ahead of the September 6 American Rescue Plan deadline. A healthy step, albeit a near term disruptive one for some as the labor market right sizes itself.

What’s in Your Pocket: Knowledge is power. Check out this infographic for more information about the smartphone you carry around every day. A pretty cool look at how the earth’s natural resources power our everyday lives. I felt like I just went back to my high school Chemistry class as I reviewed this!