After three years from 2022 to 2024 of significant increases in construction spending as a result of the Chips and Science Act, it has been downhill for new construction spending. … READ MORE >
Blog
Inflation’s persistence, the Fed and expansionary fiscal policy
With inflation well above the Federal Reserve’s 2% target and rising, and expansionary fiscal policies about to kick in, calls for rate cuts may be premature. … READ MORE >
Rising inflation, increased spending complicate Fed’s next decision
While nominal gains in spending and income look strong on the topline, adjusting for inflation is necessary—and subsequently implies an economy that is growing just above 1 percent. … READ MORE >
Market Minute: Rising input prices curb appetite for capital expenditure investment
Manufacturers continue to expect higher input prices while holding mixed expectations regarding capital expenditure in the next six months. … READ MORE >
5 things to know in life sciences: Week of Aug. 25, 2025
Each week we highlight five things affecting the life sciences industry. Here’s the latest. … READ MORE >
Market Minute: Europe’s de-industrial moment
As China continues to flood its external market with cheap goods, Germany finds itself to be a willing partner, trading its low value-added manufacturing sector for the disinflation of cheap goods. … READ MORE >
Market Minute: The $12 trillion repo market means de-dollarization is improbable
The euro, yuan, pound and yen do not have the adequate depth to support the liquidity needs of the global systematically important banks. … READ MORE >
Health care industry trend watch: Week of Aug. 25, 2025
The Health Resources and Services Administration has announced a pilot program with changes to the 340B Drug Pricing Program. … READ MORE >
Market Minute: The perils of relying on T-bills to finance the deficit
Reliance on the front end of the Treasury curve, and a drawdown in the repo facility, open the government to the risk of increased volatility, … READ MORE >
Market Minute: Chinese deflation is not abating
Beijing’s current policies are likely to continue what is shaping up to be an extended period of private sector deleveraging. … READ MORE >