Economic Commentary

ECONOMY & POLICY May 08, 2023   While unlikely to occur, a default on U.S. debt would have serious impacts on global financial markets. Learn more. Lawmakers in Washington set government spending and revenue plans every fiscal year, usually producing a shortfall that many of us know as the federal budget deficit. The accumulation of […]

ECONOMY & POLICY May 08, 2023   With regional bank volatility grabbing headlines, CIO Larry Adam looks at what this activity means for the economy and asset classes. To read the full article, see the Thoughts on the Market publication linked below. Over the past two weeks, the regional banking turmoil has reemerged as First […]

ECONOMY & POLICY May 05, 2023   Chief Economist Eugenio J. Alemán discusses current economic conditions. If there was a message the Federal Reserve (Fed) wanted to make clear after the end of the Federal Open Market Committee (FOMC) meeting on May 3, it was that it reserves the right to remain hawkish. That is, […]

ECONOMY & POLICY May 04, 2023   Conversations around the U.S. debt ceiling are likely to pivot to a short-term debt limit increase that will lessen market fears, note Washington Policy Analysts Ed Mills and Alex Anderson. The latest projections from Treasury and the Congressional Budget Office (CBO) put the debt ceiling “X-Date” as soon […]