Robertson Stephens Named to Newsweek’s America’s Top Financial Advisory Firms 2025
Award recognizes the firm’s impact and commitment to delivering excellent client service. SAN FRANCISCO, Dec. 19, 2024—Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), a $7 billion registered investment advisor, announced today that it has been named one of America’s Top Financial Advisory Firms 2025 by Newsweek and Plant-A Insights Group, which developed its list by […]
FOMC Commentary – December 18, 2024
By Jeanette Garretty, Chief Economist Confirming recent expectations in financial markets, the Federal Open Market Committee (FOMC) announced a further 25bps cut in the Fed Funds rate while changing projections for rate cuts in 2025. The Fed Funds target range is now 4.25%-4.5%. In the accompanying Summary of Economic Projections (SEP), the members of the FOMC […]
FOMC Commentary – November 7, 2024
By Jeanette Garretty, Chief Economist Today, the Federal Open Market Committee (FOMC) of the Federal Reserve announced a 25 bps Fed Funds rate cut, resetting the target Fed Funds rate to 4.5-4.75%. This represents a full 75 bps reduction in short term rates since the Fed began to move monetary policy to a more “neutral” […]
FOMC Commentary – September 18, 2024
By Jeanette Garretty, Chief Economist The Federal Open Market Committee (FOMC) announced a cut in the Federal Funds target rate by 50 bps to a target range of 4.75%-5.0%. At the same time, the FOMC announcement emphasized the continuing strength of the US economy, as well as the fact that while inflation has cooled considerably, […]
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 […]
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 […]
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 […]
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 […]
Q4 2023 Economic Commentary
By Jeanette Garretty, Chief Economist The fourth and final quarter of 2023 saw a resolution of a number of important questions: Would inflation decelerate as hoped? Would the US economy falter? Would the Federal Reserve ever stop raising interest rates? These three questions dominated investor sentiment for much of 2023 and, in keeping with economics being […]