Inventories of West Texas Intermediate crude held in Cushing, Okla., have fallen to 20 million barrels, the lowest point in a decade. … READ MORE >
Joe Brusuelas
Fed tilts hawkish as Warsh promises price stability
While we think that the July FOMC meeting will be a status quo event, the September meeting will be a live policy meeting where the committee could see movement toward a rate hike if not an outright increase. … READ MORE >
Market Minute: At the FOMC meeting, a rate hike to be determined later
Recent events have caused a reset of investor expectations regarding what and when the Federal Reserve’s next move will be. … READ MORE >
Market Minute: Financial conditions remain a modest tailwind
Our RSM US Financial Conditions Index stands at 0.8 standard deviations above normal with room to improve in the second half of the year. … READ MORE >
Market Minute: Warsh will face a searing credibility test
How will the new Fed chair balance his stated receptiveness to rate cuts with the recent rise in inflation? … READ MORE >
Market Minute: Gas price volatility is an echo of past crises
Most recently, in 2022, Russia’s invasion of Ukraine caused disruptions to the energy supply chain, sending gasoline prices 60% higher. … READ MORE >
Bank of Canada holds interest rate amid global uncertainty, domestic strain
The Bank of Canada kept its key interest rate at 2.25 per cent—a fifth consecutive hold—due to the elevated level of uncertainty around the direction of the domestic economy and the global financial implications of the war in the Middle East. … READ MORE >
Inflation outpaced wage growth in May as CPI rose by 4.2%
Inflation in May pushed past 4% for the first time in more than three years because of rising energy, gasoline, transportation and airfare costs. … READ MORE >
Market Minute: Supply shock, CPI and falling real wages
Our forecast for the May consumer price index implies an increase of 0.5% on the month and 4.2% from a year ago, along with a decline in real wages of 0.8% over the past 12 months … READ MORE >
Market Minute: Smells like animal spirits
Surging capital expenditures will result in rising productivity, greater output and a robust labor market. … READ MORE >