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Here is a brief look at the various macro factors that may have played a part in the week's market action.

• Biden’s options have been limited for preventing a possible strike by auto workers
• Biden arrives at the G20 meeting in India today. Closer US-India ties are on the agenda
• The record-long slide in one-year US home prices may be over
• Small- and mid-size business optimism rose to a 21-year high
• The US banking industry “continues to face significant downside risks,” according to FDIC chair
• China’s currency fell to a 16-year low vs. the US dollar
• Solar installations in the US are expected to reach a record level this year
• US jobless claims fell to a seven-month low last week

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Chicago Fed CEO Austan Goolsbee says the US may be on a “golden path” that tames inflation without materially damaging the robust labor market. 

Speaking with Marketplace.org on Thursday, he explained: “It’s possible we could get on the golden path, it’s not a guarantee. But the golden path would be almost unprecedented to get inflation down a lot without having a serious recession. That will be a triumph, the Fed and other central banks around the world have virtually never been able to do that. But I do think at this moment, we might be able to. Monetary policy’s working, that’s certainly what we’re trying to shoot for.”

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