Higher-for-longer now applies to more than just the federal funds policy rate. It means a regime change for companies of all sizes when it comes to the cost of financing expansion or funding their operations. Whether it be high single-digit borrowing costs for large multinationals or double-digit ... READ MORE >
Federal
Housing starts and permits spike in May as sentiment improves
Housing starts and permits came in much stronger than expected in May as the housing market continued to improve off its low in 2022. The upside surprise raises our forecast for gross domestic product in the second quarter from a 1.5% increase to 1.8%. There were 1.6 million new housing ... READ MORE >
FOMC preview: Fed positions for rate cut later this year
The Federal Reserve is on the precipice of a major shift in policy as the economy, hiring and wages slow amid a backdrop of muted inflation. As risks to the economy proliferate, the central bank is well-positioned to await the outcome of the G20 meeting later this month, which may determine future ... READ MORE >