Economic Commentary
Great news on inflation, but markets are getting ahead of themselves
ECONOMY & POLICY August 11, 2023 Chief Economist Eugenio J. Alemán discusses current economic conditions. Once again, markets are taking the elevator while economic data takes the stairs. That is, it is good that markets initially reacted so well to the better-than-expected news on July’s Consumer Price Index (CPI) inflation number, and they may […]
July employment comes in weaker than expected
ECONOMY & POLICY August 04, 2023 Chief Economist Eugenio J. Alemán discusses current economic conditions. Nonfarm employment numbers seem to be following the same script as the disinflationary process for the Federal Reserve (Fed), that is, they are both slowing, but not enough for the Fed to stop worrying about hitting its 2.0% inflation […]
Fitch downgrades U.S. long-term credit rating
ECONOMY & POLICY August 02, 2023 Raymond James CIO Larry Adam examines the reasons for the decision and what the impact may be to the financial markets. To read the full article, see the Thoughts on the Market publication linked below. On August 1, 2023, Fitch Ratings downgraded the U.S. sovereign credit rating by one […]
FOMC scorecard: Dotplot-dependent 1, data-dependent 0
ECONOMY & POLICY July 28, 2023 Chief Economist Eugenio J. Alemán discusses current economic conditions. The question many economists, as well as market participants, asked themselves after the June Federal Open Market Committee (FOMC) meeting was why the Federal Reserve (Fed) paused its federal funds rate hike campaign if they were going to increase […]