We have been closely monitoring the recent uptick in COVID-19 infections across the country and in Europe. The path of the virus is the most important factor in the economic recovery and the thing that we know the least about.
COVID Economy
Show Me the Money
While the U.S. consumer remains resilient, CEO confidence has been deteriorating as economic uncertainty has been increasing.
Healthy Consumer, Healthy Economy
This week, the Federal Reserve made big news when it reduced the federal funds rate by 0.25 percent, its second cut this year. While any Fed action always dominates the headlines, the interest rate reduction was expected and fully priced into the market. Having raised federal funds a quarter point just last December, it has been a rather dramatic change of monetary policy in which the Fed has now cut rates twice this year.
Main Street Over Wall Street?
The current economic expansion has been punctuated by record profits for large corporations, and slow job and wage growth for U.S. consumers.