Economic Commentary

Chief Economist Scott Brown discusses the latest market data. The economic data reports were on the strong side of expectations, boosting the major stock market averages. Bond yields fell, presumably due to expectations of increased demand from Japan and short-covering (with many having positioned for higher yields). The Fed’s Beige Book noted that “national economic […]

Chief Economist Scott Brown discusses current economic conditions. The Bureau of Economic Analysis will report the advance estimate of 1Q21 GDP growth on April 28, the day after the Federal Open Market Committee meeting. There’s always a lot of uncertainty heading into the initial GDP estimate. We don’t have all the pieces of the puzzle. […]

Chief Economist Scott Brown discusses current economic conditions. On Monday, the Treasury Department is expected to report a March budget deficit of about $658 billion, bringing the 12-month total to nearly $4.1 trillion, about 19% of GDP. Proponents argue that the added spending, with more to come, will help to ensure the recovery. Critics charge […]

Chief Economist Scott Brown discusses the latest market data. The ISM Services Index rose to 63.7 in March, from 55.3 in February, partly reflecting a rebound from bad weather. The report showed business activity, new orders and employment rising at a faster pace, while supplier delivery times lengthened further and input price pressures continued to […]