Economic Commentary

ECONOMY AND POLICY May 15, 2020 Chief Economist Scott Brown discusses current economic conditions. In his May 13 webcast on the economic outlook, Federal Reserve Chairman Jerome Powell struck a cautious tone. That mood was reinforced by the economic data reports that followed. The economic outlook depends on the virus and efforts to contain it. […]

ECONOMY AND POLICY May 15, 2020 Chief Economist Scott Brown discusses the latest market data. In a May 13 webcast on the economic outlook, Fed Chair Powell took a somber tone, noting that the unprecedented speed and scope of the current downturn has been “significantly worse than any recession since World War II.” The Fed’s […]

ECONOMY AND POLICY May 08, 2020 Chief Economist Scott Brown discusses current economic conditions. The April Employment Report was flawed, reflecting issues with data collection, classification, and methodology. However, results were consistent with an unprecedented, sharp deterioration in labor market conditions, mostly at the lower rungs. Payrolls fell by more than 20 million, nearly erasing […]

ECONOMY AND POLICY May 08, 2020 Chief Economist Scott Brown discusses the latest market data. The April Employment Report was flawed, but signaled a sharp deterioration in labor market conditions. Nonfarm payrolls fell by 20.5 million, nearly erasing all of the job gains since the last recession. The unemployment rate rose to 14.7%, but the […]