Economic Commentary

ECONOMY AND POLICY April 03, 2020 Chief Economist Scott Brown discusses the latest market data. Initial claims for unemployment benefits rose to 6.65 million in the week ending March 28, up from 3.31 million in the previous week (the previous record for one week had been 695,000, set in 1982). That’s nearly 10 million in […]

ECONOMY AND POLICY March 27, 2020 Chief Economist Scott Brown discusses current economic conditions. The economic impact of COVID-19 has been shockingly large and swift, but most of the information has been anecdotal. Economic data reports are by their nature backward-looking. However, the latest unemployment claim figure and the University of Michigan’s Consumer Sentiment Index […]

ECONOMY AND POLICY March 27, 2020 Chief Economist Scott Brown discusses the latest market data. Stock market participants were encouraged by the news that lawmakers had reached agreement on a $2 trillion fiscal stimulus package to counter the effects of COVID-19. In comparison, the American Recovery and Reinvestment Act of 2009 was $831 billion. The […]

ECONOMY AND POLICY March 26, 2020 Based on income and family makeup, about 90% of Americans may expect to receive $1,200 individually ($2,400 for joint filers) and $500 per dependent. Update: On March 27, the stimulus package discussed below was approved by the House and President Trump. Lawmakers in Washington struck a compromise on a major […]