Economic Commentary

ECONOMY AND POLICY August 27, 2021   Chief Economist Scott Brown discusses the latest market data. In his Jackson Hole speech, Fed Chair Powell said that the “substantial further progress” test has been met on inflation, although the labor market is not quite there. The delta variant is a wildcard, but he and most other […]

ECONOMY AND POLICY August 27, 2021   Chief Economist Scott Brown discusses current economic conditions. As expected, Fed Chair Powell’s Jackson Hole speech pointed toward tapering, but fell short of signaling precisely when. Powell includes himself in the camp expecting to start by the end of the year, provided that “the economy evolves broadly as […]

ECONOMY AND POLICY August 20, 2021   Chief Economist Scott Brown discusses the latest market data. Minutes of the June 27-28 Federal Open Market Committee (FOMC) meeting showed senior Fed officials to be divided on the outlook for tapering the monthly pace of asset purchases, with most officials expecting to start the process later this […]

ECONOMY AND POLICY August 13, 2021   Chief Economist Scott Brown discusses the latest market data. The Consumer Price Index rose 0.5% in July (+5.4% y/y, vs. +1.0% y/y in July 2020), up 0.3% ex-food and energy (+3.4% y/y). Prices in many of the areas that had experienced rapid inflation in recent months appeared to […]