interest rates

Where should interest rates be?

Where should interest rates be?  This has been pondered countless times over the last decade as the Fed imposed a monetary policy of extreme easing during the depths of the Great Recession, keeping interest rates near zero in subsequent years, before their the normalization process of raising them more recently.  It’s important to keep in…

market volatility

Fall Market Volatility

The current pull back in the stock market once again gives us an opportunity to remind everyone just how normal and frequent these events are.  Since the end of September, the S&P 500 is down about 6.4% and the broader Russell 2000 is down about 9%.[1] Our clients have heard us preach endlessly about the…

third quarter commentary

2018 Third Quarter Market Commentary

We don’t know about you, but there are days when we envision getting far away from the news and the disquieting things we hear each day. Fortunately, and we’ve mentioned this before, the economy and the various capital markets don’t rely solely on what’s happening in Washington. As Will Rogers reminded us so many years…

interest rate increase

Interest Rates Increased Today

The FOMC decided to raise short-term interest rates by another quarter-percent—the third hike this year—bringing the fed funds target range to 2.00-2.25%.  This was largely as expected, with formal probabilities of such a move being pegged at around 95% based on futures markets.  There were no dissents.  The official statement noted a continued strengthening in…

interest rates

Today’s Fed Meeting: No Changes to Interest Rates

The FOMC concluded their monetary policy meeting today, which, as expected, resulted in no change to the fed funds rate—currently targeted to a range of 1.75-2.00%.  There were no dissenting votes. The formal narrative again was positive in its assessment of overall conditions, with both economic activity and labor market descriptions being upgraded from ‘solid’…