Economic Commentary

Chief Economist Scott Brown discusses current economic conditions. The Federal Reserve’s views on the economy and monetary policy are often of fine gradation, leading to misquotes, misinterpretations, and misunderstandings. The April 27-28 FOMC minutes are a good example. Officials recognized that base effects (a rebound in prices that were depressed a year ago) would boost […]

Chief Economist Scott Brown discusses the latest market data. The April 27-28 FOMC minutes noted that “a number of participants suggested that if the economy continued to make rapid progress toward the committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.” […]

Chief Economist Scott Brown discusses current economic conditions. The CPI rose more than expected in April, adding to inflation worries. The University of Michigan’s Consumer Sentiment index dipped in the mid-March reading, reflecting growing concerns about inflation and potential rate hikes. Yet, Fed officials, while acknowledging risks, have remained calm. The Consumer Price Index rose […]

Chief Economist Scott Brown discusses the latest market data. Market Commentary by Scott J. Brown, Ph.D., Chief Economist The Consumer Price Index rose 0.8% in April (+4.2% y/y), up 0.9% excluding food and energy (+3.0% y/y). The increase reflected a surprise 10.0% jump in the index for used vehicles, a rebound from the low levels […]