Daily Close | Forex, Metals, Oil, Agriculture May 31, 2021



In his writing and research, Sumner specializes in monetary policy, the role of the international gold market in the Great Depression, and the history of macroeconomic thought.

United States

The US foreign trade picture worsened sharply in the first quarter and subtracted from growth, as exports dropped and imports surged. I’ve been strongly opposed to the big-budget deficits during the Trump/Biden era because they will require future tax increases, which slows economic growth. This left the US economy in the first quarter 0.4% larger than the same GDP measure taken a year earlier. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis.
I don’t believe that excessive fiscal stimulus in the US causes high inflation, most economists believe it does. Unheard of in the days when all Wall Street could say was “Buy”.