Economic Commentary

It was a thin week for economic data. Both new and existing home sales were reported lower in September, although the trends are generally higher. Durable goods orders fell 1.1% in September, reflecting the strike at GM and ongoing problems at Boeing. Ex-transportation, orders slipped 0.3%, with mixed results across industries. Boris Johnson reached a […]

Chief Economist Scott Brown discusses current economic conditions. Fed Vice Chair Richard Clarida spoke on Friday and briefly summarized the outlook for the economy and monetary policy. “The U.S. economy is in a good place, and the baseline outlook is favorable,” Clarida said. However, “despite this favorable baseline outlook, the U.S. economy confronts some evident risks in this […]

Chief Economist Scott Brown discusses current economic conditions. The Treasury Department is expected to report that the federal budget deficit for FY19 (which ended in September) fell short of $1 trillion. That’s a lot of money, especially with an economy running full tilt. However, the government currently doesn’t have any problem borrowing. Some will worry […]

Chief Economist Scott Brown discusses current economic conditions. The ISM Manufacturing Index surprised to the downside, falling further into contraction in September and renewing recession fears. The Non-Manufacturing Index also came in lower than anticipated, but remained consistent with an expansion in the overall economy (but at a slower pace). The Employment Report was mixed, […]