Economic Commentary

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 […]

Chief Economist Scott Brown discusses the latest market data. Nonfarm payrolls rose by 266,000 in the initial estimate for April, well below the median forecast (+980,000). However, payrolls rose by 1.089 million prior to seasonal adjustment, in line with a typical (pre-pandemic) April. The unemployment rate edged up slightly to 6.1% (from 6.0%), reflecting increased […]

Chief Economist Scott Brown discusses current economic conditions. Prior to seasonal adjustment, nonfarm payrolls rose by 1.089 million in the initial estimate for last month, about what we would see in a typical (pre-pandemic) April. The “problem” was that the seasonally adjusted gain was only 266,000 (+218,000 for the private sector). We shouldn’t make too […]