Economic Commentary

Chief Economist Scott Brown discusses the latest market data. The November Employment Report was somewhat disappointing. Nonfarm payrolls advanced by 245,000, reflecting the loss of 93,000 temporary census workers, further reductions in state and local government, and more limited seasonal hiring in retail. The economy has added 12.3 million jobs since April, but we remain […]

ECONOMY AND POLICY November 20, 2020 Chief Economist Scott Brown discusses current economic conditions. Monetary and fiscal policy played a significant role in lessening the pandemic’s impact on the economy. The Fed has done its part, ensuring that there is plenty of liquidity in the financial system. Further fiscal support is needed, but has been […]

ECONOMY AND POLICY November 20, 2020 Chief Economist Scott Brown discusses the latest market data. While vaccine news has been positive, investors remain concerned about rising COVID-19 cases and dimming prospects for fiscal stimulus. Weekly jobless claims rose to 742,000, but the figures tend to be noisy at this time of year. Retail sales rose […]

ECONOMY AND POLICY November 13, 2020 Chief Economist Scott Brown discusses current economic conditions. Some very good news on vaccine development, along with expectations of a divided government, helped propel the stock market this week. The economic impact of a vaccine depends on a number of things. We still have a long way to go […]