Economic Commentary

February 12, 2020 Chief Economist Scott Brown discusses the latest market data. The Consumer Price Index rose 0.3% in January (+1.4% y/y), led by a 7.4% rise in gasoline prices (-8.6% y/y). Food prices edged up 0.1% (+3.8% y/y). Ex-food and energy, the CPI was unchanged (+0.031% before rounding, up 1.4% y/y). Homeowners’ equivalent rent […]

February 5, 2021 Chief Economist Scott Brown discusses current economic conditions. The U.S. economy lost 2.77 million jobs in the initial estimate for January, which is on par with what we saw a year ago (-2.79 million). Seasonally adjusted, this was recorded as a 49,000 gain (with private-sector payrolls up just 6,000). Still, accounting for […]

February 05, 2020 Chief Economist Scott Brown discusses the latest market data. With the previous week’s short-squeeze headlines behind us, investors remained optimistic about a fiscal support package, which passed the Senate by a vote of 51-50, with Vice President Harris breaking the tie. Nonfarm payrolls rose by 49,000 in the initial estimate for January, […]

January 29, 2021 Chief Economist Scott Brown discusses current economic conditions. Real GDP rose at a 4.0% annual rate in the advance estimate for 4Q20, a much more moderate pace of recovery than was seen in the third quarter. Details were mixed, but consumer spending showed a significant loss of momentum and monthly figures reflected […]