The economic reports released last month largely showed continued economic growth. The May employment report showed that the pace of hiring remained strong during the month, which was an encouraging signal that the economic recovery remains healthy despite the headwinds created by high levels of inflation. That said, both service sector and consumer confidence continued to decline, which could be a headwind for future spending growth. On the medical side, daily new case growth declined in May and remained well below the highs we saw earlier in the year. Looking forward, high levels of vaccination and natural immunity ... (full story)