Last night, my wife and I shared a socially distanced bonfire with a few friends. One was a retired physician who is spearheading the vaccination effort in the small New Hampshire city where I live. New Hampshire has had its challenges getting needles into arms like everywhere else, but it seems as if we’re breaking through the log jam. For example, between week 1 and week 3, they’ve tripled the number of people they can vaccinate in a day, and they’ve expanded from five days a week to seven days a week. At least for now, there has not been a shortage of vaccines. I know there is a long way to go, but you can feel it picking up speed. Call me an optimist, but I believe the same holds true for the economy. Yes, segments such as travel, leisure and hospitality are struggling, and the job market for many remains weak. But look a little deeper, and there’s good news. The Congressional Budget Office, for instance, is projecting 3.7% economic growth for the first quarter; the outlook overseas is even better. The Fed doesn’t see a return of inflation through 2023. For the supply chain, I believe its full speed ahead. So, what comes next? That’s a question we attempt to answer in this issue of SCMR. Not a subscriber?

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