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Economic Commentary – June 30, 2025

Fireworks generally start well before Fourth of July in neighborhoods around the country. This curtailed week for market-moving data is no exception. The economic cherry bombs will be in the

Economic Commentary – June 23, 2025

Any business looking for calm seemingly can’t catch a break. The Federal Reserve feels that pain, too. Just as inflation was on the verge of becoming a lesser concern, albeit

Economic Commentary – June 16, 2025

One of the practical implications of an economy that is growing at 1% versus an economy growing at 2-2.5% is that a more slowly growing economy tips into negative territory far more readily, with attendant

Economic Commentary – June 9, 2025

The growing contrast between business sentiment, largely expressed via interviews and industry reports, and “hard” macroeconomic data like employment prompts the immediate thought that “Something’s Gotta Give.” Further amplifying the

Economic Commentary – June 2, 2025

Amidst all the confusion as to which US tariffs are in place, which are in deferment and which have never come into being — not to mention which retaliatory actions

Economic Commentary – May 27, 2025

Congress is on Memorial Day holiday until June 3 (yes, they do get better benefits than most people!), although returning to their districts and (maybe) meeting with constituents may be

Economic Commentary – May 19, 2025

Moody’s lowering of the US sovereign credit rating to Aa1 from Aaa was not entirely surprising; S&P cut its rating of the US as a borrower from its highest rating

Economic Commentary – May 12, 2025

The economic news starts to get interesting on Tuesday, and will continue from there, kicked off by the Consumer Price Numbers for April. It will be a long wait for

Economic Commentary – May 5, 2025

A recent meeting with a Pentagon officer yielded a phrase that he surely would be amused to see deployed to economic thinking: “Fog and Friction.” The conventional application of the

Economic Commentary – April 28, 2025

This is a good week to let the data — there will be a lot of it— do the driving. And it is likely to be something of a joy