Part 5/10:
The conversation then turned to the U.S. economy, which presents a divergence from global patterns. While the Fed remains cautious, Snyder suggested that their interpretation of data could be misleading. The labor market statistics, for example, could appear robust compared to other regions, but beneath the surface, real growth rates necessary for recovery remain elusive.
Companies in the U.S. have not returned to pre-2020 employment levels, and economic activity has not picked up to the levels needed for robust recovery. Snyder highlighted that with payroll growth stagnant, the likelihood of remaining insulated from global economic issues decreases significantly.