Week of February 22, 2026 – Weekly Economic Commentary
“Head-spinning” is the word for the week. The Supreme Court rejection of many (not all) of President Trump’s tariffs served to sweep under the rug an almost embarrassing scramble to explain how the fourth quarter GDP estimate came in so far below projections, while the broad-based measure of inflation known as the Personal Consumption Expenditures […]
Week of February 15, 2026 – Weekly Economic Commentary
Although data released this week will largely be for the end of 2025, the data will serve to flesh out the picture hinted at by the Nonfarm Employment and Consumer Price Index numbers for January: a US economy that is doing considerably better than expected in terms of both growth and inflation. The most recent estimate […]
With Warsh at the Fed, Markets Shift Focus to Fiscal Leadership
Donald Trump has nominated his new Federal Reserve Chairman, Kevin Warsh. The choice is largely considered a sensible one, validated by most of Wall Street, global financial markets and other central bankers. Coming on the heels of a Federal Open Market Committee meeting that was notable for its lack of surprises, and for encouraging statements about the US economy, one can sense a collective sigh […]
Shutdown Risks and a Fed Decision: Markets on Alert
Congress moves unexpectedly back into the economic picture, as talk of a partial government shutdown on Friday has re-emerged with power and possibility. If investors thought that the only news hitting them this week would be just another boring Federal Reserve meeting, the fight over Department of Homeland Security funding should spice things up nicely. […]
Rethinking ‘Data‑Driven’: Why Friedman’s Long‑View Philosophy Matters Again
Slightly more than a week before a critical Federal Reserve interest rate meeting, the outlook on prices has been muddied once again by uncertainty over tariffs. Potential fiscal policy actions involving credit card rate caps, oil price manipulation, or home buyer subsidies have also been disruptive. The best way for monetary policy authorities to think […]
Inflation, Housing, and Fed Speeches: A Pivotal Week Ahead
Having hopefully shaken off the always-lethargic start to the new year, investors will be bombarded by data this week, some of it still questionable in quality. For example, the usefulness of Consumer Price Index and Producer Price Index numbers for October, delayed because of the government shut-down, is not even being discounted — it’s largely […]
Jeanette Garretty on Bloomberg Radio
November 27, 2023 – Chief Economist and Managing Director, Jeanette Garretty appeared on Bloomberg Daybreak Asia to discuss U.S. eco data/preview Fed. “I just want to highlight, I think it’s going to be an interesting meeting and I think there’s going to be a lot of dissent behind closed doors. Not when they make the […]
Jeanette Garretty on Bloomberg Daybreak: Australia
July 12, 2023 – Chief Economist and Managing Director, Jeanette Garretty appeared on Bloomberg Daybreak: Australia discussing the outlook for the US economy as the inflation rate slid to a more than two-year low. “I think most of those trends, one of the things that makes this a good report is that when you look […]
Dow futures slump as election results tighten
MarketWatch by Joy Wiltermuth on November 4, 2020 Jeanette Garretty discusses the economic outlook in the midst of election returns. Garretty believes there is still uncertainty of the outcome, and investor focus will go back to the economy and the pandemic. “There seemed to be an expectation that there might be a blue wave,” said […]
Economic Outlook at Midyear
As seen in the WealthManagement 2020 MidYear Outlook Jeanette Garretty, Chief Economist, August 2020 Three enormously expensive and challenging projects confront the United States and the major developed economies in the next 18 months: 1) the repair and support of fragile economies and an ageing labor force, 2) the rebuilding of supply chains for strength […]
Investing for Future Growth
By Jeanette Garretty, Chief Economist July 21, 2020 – The Congressional Budget Office (CBO) regularly prepares long-term economic growth forecasts in order to fulfill its mandate to analyze the budgetary impact of current and proposed federal legislation. These forecasts utilize generally accepted or consensus projections of population growth, demographic trends, labor force participation rates, productivity, […]
The Value of Simplicity
By Jeanette Garretty, Chief Economist July 6, 2020 – Every soul-shaking event of the last twenty years – 9-11, the financial crisis of 2008-2009, the coronavirus pandemic – has been accompanied by a period of introspection regarding truly important things in our lives. The answers understandably are different for each individual, but there are often […]