Five Things You Need to Know to Start Your Day

A warning on growth, transitory inflation is not going away, and it’s too early to declare Covid victory.

Goldman Sachs Group Inc. economists blamed the slow rebound in consumer spending for their decision to cut U.S. growth forecasts for this year and next. There’s certainly evidence to back the view that the American consumer has yet to start firing on all cylinders, with the most recent data showing confidence dropped to a seven-month low in September. At the same time, the labor market continues to mystify economic forecasters, while the Federal Reserve remains on track to start lifting stimulus measures next month. All that suggests markets will stay on guard for volatility.