Economic Commentary

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 […]

ECONOMY AND POLICY March 16, 2020 Chief Economist Scott Brown discusses the Federal Reserve’s decision to cut interest rates to 0% and restart quantitative easing (QE). In recent weeks, COVID-19 has led to escalating economic concerns. What started as a seemingly sharp, but likely temporary, reduction in Chinese activity, including disruptions to global supply chains, […]

ECONOMY AND POLICY March 13, 2020 Chief Economist Scott Brown discusses current economic conditions. In recent weeks, we’ve seen economic concerns about COVID-19 moving from supply chain disruptions, to expectations of softer global growth, to fear of the impact from social distancing. The odds of a recession have been rising day  by day. Some economists […]