Economic Commentary

ECONOMY AND POLICY November 12, 2021   Chief Economist Scott Brown discusses the latest market data. Inflation figures surprised to the upside. The Consumer Price Index rose 0.9% in October (+6.2% year over year), up 0.6% (+4.6% year over year) excluding food and energy. Gasoline rose 6.1% (+49.6% year over year). Used vehicle prices rose […]

ECONOMY AND POLICY November 12, 2021   Chief Economist Scott Brown discusses current economic conditions. October inflation figures were higher than expected. More troublesome, the range of items with higher inflation, relatively narrow in the spring, appears to be widening. Inflation expectations for the next five years have risen. Higher inflation is dampening consumer sentiment. […]

ECONOMY AND POLICY November 05, 2021   Chief Economist Scott Brown discusses the latest market data. As expected, the Federal Open Market Committee (FOMC) announced it would begin reducing (“tapering”) the monthly pace of asset purchases – currently $120 billion – by $15 billion per month but could go faster or slower depending on economic […]

ECONOMY AND POLICY November 05, 2021   Chief Economist Scott Brown discusses current economic conditions. As was widely expected, the Federal Open Market Committee announced the tapering of its monthly pace of asset purchases. The criteria for the lift-off in short-term interest rates is more stringent, but as Chair Powell admitted in his press conference, […]