Five Charts for the Week That Was: December 5, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including holiday shopping, gas prices, and electricity costs.
Markets Rebound as Fed Signals December Rate Cut
Executive Summary Last week, the equity market staged a broad rebound, recovering a portion of November’s losses. The rally was sparked by commentary from the Federal Reserve suggesting a December rate cut is back on the table. Major equity indices rallied sharply, with gains spread across sectors and factors. Small-cap stocks were the standout performers, […]
Consumer Sentiment vs. Spending: A Holiday Season Disconnect
Economists have long cautioned against using consumer sentiment surveys to forecast consumer spending. Statistically, income growth is the overwhelming determinant of consumer expenditures, with a lesser, but significant, contributory role played by changes in wealth. Retirement accounts and home equity constitute more than 60% of US Household wealth and these two important components of wealth, like […]
Charitable Giving This Season
As we enter the final weeks of the year, it is an important moment to revisit charitable giving strategies, especially given the meaningful tax changes taking effect in 2026 under OBBBA. For those who donate regularly, front-loading charitable gifts this month may help maximize deductions before the new limitations begin. In 2026, OBBBA will introduce […]
November 2025 Recap
Economic Commentary The Health of the Consumer and the Holiday Shopping Season The shift in holiday spending patterns is more than just a retail curiosity; it reflects a fundamental change in how consumer spending is measured. The pre-holiday “pull-forward” strategy, driven by aggressive online promotions, suggests that the question is not about the line outside […]
Market Note: The Cost of Living in the Age of AI
By Avi Deutsch November 25, 2025 – As we digest the results of November’s elections, a common narrative is emerging that ties the outcome to a stubborn reality: life still feels expensive. Cost of living dominated local debates and exit polls, echoing concerns that have lingered since the inflation peaks of 2022–2023. While headline inflation […]
September Metrics Establish Baseline Amid Limited Government Reporting
Economic data for September continues to gush out like water at the end of a fire hose. The problem seems to be that September feels like a LONG time ago. Nevertheless, reports on September employment (last week), and Producer Prices and Retail Sales (both this week), help to establish the base on which the economy is […]
Five Charts for the Week That Was: November 21, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including unemployment claims, payroll employment growth, federal tax refunds, trade deficit, and money supply vs. inflation.
November 2025 Letter
We are reaching out to address the recent equity market volatility. Heightened volatility can naturally be stressful, especially amid a steady stream of market headlines. These short-term fluctuations, however, are a normal and expected part of the investment landscape. What remains unchanged, however, is the structure of your portfolio. It was built to align with […]
The Ultimate Luxury in an Uncertain Job Market
As published on Rethinking65 For affluent clients, the traditional three to six months of emergency funds is quaint, bordering on negligence. November 13, 2025 -The “Jobpocalypse” is no longer confined to cyclical economic downturns or blue-collar automation. The recent, relentless waves of white-collar layoffs — particularly in the once-impenetrable fortresses of big tech, finance, and […]
Five Charts for the Week That Was: November 7, 2025
Chief Economist Jeanette Garretty provides 5 economic charts covering topics including home insurance, rare earths, credit card delinquencies, gold, and apartment rent.
October Recap: Monthly Roundup
Executive Summary Markets extended their rally in October, rising for a sixth straight month and hitting new highs despite weakening breadth. Parallels to the late 1990s, marked by narrow leadership, expensive valuations, and transformative tech, continue to fuel debate of a bubble. While today’s AI leaders are fundamentally stronger than their dot-com era peers, questions […]