Economic Commentary

ECONOMY AND POLICY July 17, 2020 Chief Economist Scott Brown discusses current economic conditions. The pandemic had a significant impact on household spending in March and April, with a sharp contraction in consumer services (basically anything where people come into close contact with each other). The relaxation of social distancing guidelines has contributed to a […]

ECONOMY AND POLICY July 17, 2020 Chief Economist Scott Brown discusses the latest market data. The mid-month economic data reports were consistent with a strong but partial rebound from pandemic-related weakness. However, COVID-19 cases continued to rise, creating more risk for the economic outlook. Stock market action was mixed as earnings reports began to arrive. […]

ECONOMY AND POLICY July 10, 2020 Chief Economist Scott Brown discusses current economic conditions. On Monday afternoon, the U.S. Treasury is expected to announce a June budget shortfall of about $863 billion, bringing the 12-month total to nearly $3 trillion (or about 14% of pre-pandemic GDP). The red ink will continue. Lawmakers are expected to […]

ECONOMY AND POLICY July 10, 2020 Chief Economist Scott Brown discusses the latest market data. The economic calendar was thin. Investors remained concerned about rising cases of COVID-19. A return to a full lockdown appears unlikely, but the pace of improvement in the economy is expected to slow. The ISM Non-Manufacturing Index rose to 57.1 […]