The Real Economy Blog

Joseph Brusuelas, Chief Economist, RSM US LLP

@JoeBrusuelas

Joe Brusuelas, “chief economist to the middle market,” is the preeminent voice championing issues and policies facing midsize companies in the United States and around the world. An award-winning economist, Brusuelas has more than 20 years’ experience analyzing U.S. monetary policy, labor markets, fiscal policy, international finance, economic indicators and the condition of the U.S. consumer.

A member of the Wall Street Journal’s forecasting panel, Brusuelas regularly briefs members of Congress and other senior officials regarding the impacts of federal policy on the middle market and the factors by which middle market executives make business decisions. He also frequently offers his insights on the U.S., Canadian and global economies in the financial media. In 2020, he was named one of the 100 most influential economists by Richtopia.

Before joining RSM in 2014, Brusuelas spent four years as a senior economist at Bloomberg L.P. and the Bloomberg Briefs newsletter group, where he co-founded the award-winning Bloomberg Economic Brief. Earlier in his career, he was a director at Moody's Analytics covering the U.S. and global economies for the Dismal Scientist website. He also served as chief economist at Merk Investments L.L.C. and chief U.S. economist at IDEAglobal.

Personal income rises 21.1% in March, with savings up 27.6%

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The impact of the $1.9 trillion in fiscal aid put on the table this year bolstered U.S. personal income by a record 21.1% in March, resulting in a 4.2% increase in personal spending. Income excluding government transfers increased by 0.9% on the month. Compensation increased by 1%, while wages and salaries advanced by 1.1%. Those direct cash transfers ... READ MORE >

Fed policy decision: Steady as U.S. economy at inflection point

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The American economy has entered a period of recovery that will be followed by a robust expansion, leading it almost surely to the pre-pandemic level of output in the near term and a return to full employment in 2022. With the end of the pandemic in sight, the Federal Open Market Committee, at its meeting on Wednesday, noted an improvement in the rate of ... READ MORE >

First-quarter GDP: Growth improves as the recovery accelerates

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An improved public health outlook linked to mass vaccinations and a flood of fiscal aid coursing through the American economy boosted gross domestic product by 6.4% during the first three months of the year. The composition of growth was rock solid as American households increased spending by 10.7%, setting the stage for the return of economic ... READ MORE >

GDP preview: 6% growth forecast with room to accelerate

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We expect that the initial estimate of U.S. gross domestic product for the first quarter, to be released Thursday, will show 6% growth, which is somewhat below the Bloomberg consensus of 6.8%. A wider-than-anticipated trade deficit, which we expect to subtract 1.5% from overall growth, and a weaker-than-expected inventory accumulation that includes a ... READ MORE >