Economic Commentary

December 18, 2020 Chief Economist Scott Brown discusses current economic conditions. The holiday shopping season is critical for most retailers. For some, the season is make or break for the whole year. The November retail sales report was weaker than expected, although amplified by the seasonal adjustment. No surprise, consumers are increasingly shopping online. The […]

Chief Economist Scott Brown discusses current economic conditions. The November Employment Reports was a bit disappointing. Nonfarm payrolls rose by 245,000 (vs. a median forecast of 485,000). The increase was held back by the loss of 93,000 temporary census workers. State and local government continued to shed workers. Seasonal hiring was much lower this year, […]

Chief Economist Scott Brown discusses the latest market data. The November Employment Report was somewhat disappointing. Nonfarm payrolls advanced by 245,000, reflecting the loss of 93,000 temporary census workers, further reductions in state and local government, and more limited seasonal hiring in retail. The economy has added 12.3 million jobs since April, but we remain […]

ECONOMY AND POLICY November 20, 2020 Chief Economist Scott Brown discusses current economic conditions. Monetary and fiscal policy played a significant role in lessening the pandemic’s impact on the economy. The Fed has done its part, ensuring that there is plenty of liquidity in the financial system. Further fiscal support is needed, but has been […]