Economic Commentary

ECONOMY AND POLICY April 08, 2022   Chief Economist Scott Brown discusses current economic conditions. March CPI data are expected to show more elevated inflation on a year-over-year basis, boosted by a 20% rise in retail gasoline prices (up nearly 50% y/y). Ex-food & energy, inflation will also remain high (about 6.6% y/y), reflecting ongoing […]

ECONOMY AND POLICY April 01, 2022   Chief Economist Scott Brown discusses the latest market data. The March Employment Report was strong. Nonfarm payrolls rose by 431,000 – less than expected but with upward revisions to January and February (a 562,000 monthly average in 1Q22). The unemployment rate fell to 3.6%, which is where it […]

ECONOMY AND POLICY April 01, 2022   Chief Economist Scott Brown discusses current economic conditions. The job market remained strong in March. The unemployment rate fell to 3.6%, which is where it was before the pandemic (3.0% for the prime aged cohort, those 25-54 years). With the exception of older workers (those 55 and over, […]

MARKETS AND INVESTING March 25, 2022   Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy. Short-Term Summary: Equities have staged an impressive rally over the past 8 days- up 8% and taking out multiple short-term resistance levels despite negative newsflow (Russia/Ukraine war rages on, Fed becoming […]