Economic Commentary

March 12, 2021 Chief Economist Scott Brown discusses current economic conditions. The World Health Organization declared the COVID-19 outbreak a pandemic on March 11, 2020. The global economy shut down soon after. In the U.S., consumers and businesses adapted to life under the pandemic, with some disappointing developments and some unexpected changes. As vaccines become […]

March 5, 2020 Chief Economist Scott Brown discusses the latest market data. In an online discussion, Fed Chair Powell repeated that the central bank is a long way from achieving its inflation and employment goals (implying no change in short-term rates or the money pace of asset purchases anytime soon). Asked about the recent rise […]

March 5, 2021 Chief Economist Scott Brown discusses current economic conditions. The February Employment Report was stronger than expected, even though job gains were held back by unfavorable weather. Yet, we are a long way from full employment. In his online discussion of the economy, Fed Chair Powell repeated that the central bank is nowhere […]

February 26, 2020 Chief Economist Scott Brown discusses the latest market data. In his monetary policy testimony, Chair Powell said that the Fed is a long way from achieving its inflation and employment goals. As expected, Powell downplayed concerns about higher inflation and an asset bubble. Nevertheless, long-term interest rates continued to rise, distressing stock […]