Economic Commentary

ECONOMY AND POLICY October 09, 2020 Chief Economist Scott Brown discusses the latest market data. The odds of a further fiscal support package rose and fell and rose again. Fed Chair Powell cautioned that “too little [fiscal] support would lead to a weak recovery.” The FOMC minutes from the September 15-16 policy meeting noted that […]

ECONOMY AND POLICY September 30, 2020 The fastest, most economically destructive recession is now in investors’ rearview mirrors. CIO Larry Adam shares his perspective on the unfolding recovery. This October marks 80 years since the opening of the Pennsylvania Turnpike, the United States’ first highway. Highways have been a critical driver of economic growth due […]

ECONOMY AND POLICY October 02, 2020 Chief Economist Scott Brown discusses current economic conditions. Nonfarm payrolls continued to recover in September, although the pace of improvement has slowed and we are unlikely to return to February levels until the pandemic is well behind us. The impact of COVID-19 has been uneven, with job losses remaining […]

ECONOMY AND POLICY October 02, 2020 Chief Economist Scott Brown discusses the latest market data. There was a lot of economic data to digest, but market participants focused more on the chaotic presidential debate and the news that President Trump tested positive for COVID-19. Nonfarm payrolls rose by 661,000 in the initial estimate for September; […]