FOMC Commentary – July 31, 2024
By Chief Economist, Jeanette Garretty The statement released at the end of the FOMC meeting today was predictable and, quite frankly, a bit boring. The Fed Funds target rate (aka, “the policy target”) was left unchanged at 5.25-5.5%, and the usual “data-driven” waiting-and-seeing language was included. The one notable aspect of the statement was the clear […]
Quarterly Insights – July 2024: More New Highs for the S&P 500 in Q2
By John Lau July 1, 2024 – The S&P 500 experienced its first real dose of volatility early in the second quarter, but expectations for interest rate cuts by the Federal Reserve, solid economic growth and continued strong financial performance from AI-related tech companies ultimately pushed the S&P 500 to new all-time highs and the […]
2024 Mid Year Investment and Wealth Planning Outlook Webinar
Chief Economist Jeanette Garretty hosted Chief Investment Officer Stuart Katz and Head of Wealth Planning Mallon FitzPatrick as they discussed the first half of 2024 and their outlook for the remainder of 2024.
FOMC Commentary – June 12, 2024
By Chief Economist, Jeanette Garretty June 12, 2024 Chairman Powell has a problem. He won’t forecast. He is prepared to act on interest rates more quickly “if the labor markets deteriorate unexpectedly” while at the same time acknowledging that if he waits to see that, it’s likely to be too late (monetary policy has an […]
Europe Has a Growth Problem. Should You Care?
By Jeanette Garretty and Avi Deutsch May 17, 2024 – In 2007, on the eve of the global financial crises, the economies of the European Union and the US were almost identical in size. Fifteen years later, in 2022, the US economy was 1.5 larger than the EU’s.[1] The difference in GDP per capita is […]
3 Questions with Robertson Stephens feat. Jeanette Garretty
May 7, 2024 – CMO, Louis Calabrese, hosts Chief Economist Jeanette Garretty to discuss the most recent FOMC meeting and her outlook on the U.S. economy.
FOMC Commentary – May 1, 2024
By Chief Economist, Jeanette Garretty May 2, 2024There is very little that was surprising in the May 1 interest rate announcement by the Federal Open Market Committee (FOMC). It was acknowledged by a number of Federal Reserve members weeks ago that progress toward the 2% inflation target slowed in the first quarter; the FOMC statement reiterated […]
The Problem with Productivity
April 2, 2024 By Jeanette Garretty, Chief Economist Productivity isn’t everything, but in the long run it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker. –Paul Krugman, The Age of Diminishing Expectations (1994) Every five or six […]
FOMC Commentary – March 20, 2024
March 20, 2024 What Just Happened? By Chief Economist, Jeanette Garretty The just-concluded March meeting of the Federal Open Market Committee (FOMC) ended with an unsurprising statement leaving the target Fed Funds at 5.25%-5.5% and citing a need for more data on inflation before initiating a series of interest rate cuts. The accompanying Summary of […]
Jeanette Garretty on Bloomberg Daybreak Asia
March 19, 2024 – Chief Economist and Managing Director, Jeanette Garretty appeared on Bloomberg Daybreak Asia to discuss her market perspective and how The Fed in the US will act later this week. Jeanette touched upon commercial real estate, CPI and jobs numbers in her discussion. Listen here.
FOMC Commentary – January 31, 2024
By Chief Economist, Jeanette Garretty The FOMC statement released today is, in its language, quite benign. Notably, any language indicating a bias towards hiking interest rates (should inflation pressures return and/or inflation fail to continue to decelerate) has been removed from the statement. Overall, the message of the statement is that the Fed does not […]
2024 Investment and Wealth Planning Outlook Webinar
January 25, 2024 – Chief Economist Jeanette Garretty hosted Chief Investment Officer Stuart Katz and Head of Wealth Planning Mallon FitzPatrick as they discussed the end of 2023 and their outlook for 2024. Disclosures Investment advisory services offered through Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), an SEC-registered investment advisor. Registration does not imply any […]