Economic Commentary

The Federal Open Market Committee raise short-term interest rates for the fourth time in 2018 and signaled more to come in 2019, albeit most likely at a slower pace. Market participants overly focus on what the Fed will do instead of why the Fed will do what it does. In his post-FOMC press conference, Fed […]

Nonfarm payrolls rose less than expected in November. The three-month average remained relatively strong, although below the pace of the first half of the year. That’s not surprising. As the job market tightens, the number of available workers decreases. Anecdotal reports suggest that firms are having further difficulty finding skilled labor, and workers are more […]

The recent data releases continue to suggest moderately strong economic growth in the near term and little threat of higher inflation. However, investors remain anxious about a wide range of issues. In contrast, in his discussion last week, Fed Chairman Powell appeared confident that the economy is in good shape and can handle further rate […]

The midterm election results were about as anticipated, with Democrats gaining control of the House and Republicans retaining control of the Senate. Peace, love, and everyone sings Kumbaya, right? The new Congress begins in January. The current Continuing Resolution that funds the government expires on December 7, and we could see a showdown, but it […]