Economic Commentary

MARKETS AND INVESTING March 23, 2020 Equities remain defensive as investors await the largest relief package in history. In the past week alone, investors witnessed the S&P 500’s worst daily decline since Black Monday – the index has slid 30% in the weeks since its February 19 high. We also saw swings of more than […]

ECONOMY AND POLICY March 20, 2020 Chief Economist Scott Brown discusses current economic conditions. The economic outlook has deteriorated sharply in the last few weeks. Wall Street economists’ forecasts of GDP growth have been revised lower day by day. This is going to be bad. The Federal Reserve has now thrown a ton of liquidity […]

ECONOMY AND POLICY March 20, 2020 Chief Economist Scott Brown discusses the latest market data. The Federal Open Market Committee (FOMC) couldn’t wait for its scheduled policy meeting and lowered the federal funds target range by 100 basis points, to 0-0.25%, on Sunday, March 15. The FOMC also announced a resumption of large-scale asset purchases […]

MARKETS AND INVESTING March 18, 2020 “The biggest point we can make is to have patience and stay calm,” says Chief Investment Officer Larry Adam. “There is significant fiscal stimulus coming.” The economic effects of COVID-19 have accelerated quickly and the financial markets are experiencing heightened volatility. The major U.S. stock indices rise on positive […]