Q4 Will Be Soft in the U.S., Says RBC's Porcelli

The transcript discusses the current state of the job market, highlighting the number of job openings across industries and the challenges of matching available labor with job requirements. It also examines the economic impact of the virus, the role of stimulus, and forecasts for Q4, emphasizing potential risks. The conversation reflects on past economic performance, noting the importance of high-frequency data in understanding economic trends.

How has the economic forecast been adjusted due to the lack of stimulus?

What does the speaker believe about the economic activity in Q4?

What factors contributed to the surprising economic growth during the summer?