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Economic Commentary

We break down timely topics, centered on the major economic events around the world and their impacts to financial markets, in order to help you simplify client conversations around important investing decisions.

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Economic Commentary

The Fed announced a third consecutive 75 basis point rate increase as inflation trends remains hot.

The core CPI upside surprise for August highlighted the continued cost pressures across the economy as well as the long road back to a normal price environment. The Fed pushed through another 75 basis point rate hike in September while signaling further aggressive tightening ahead. But the damage may already be done as cuts in consumer activity and business spending in response to higher rates are expected to weaken growth sharply over 2023.  

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Economic Commentary

The Fed stays aggressive: Daily Insight from Nationwide Economics

The FOMC lifted the federal funds target range by 75 basis points for a third straight meeting, to 3.00-3.25 percent. While the post-meeting statement was virtually identical to that put out in July, the committee’s economic projections were updated to show weaker growth, higher inflation, and higher benchmark rates than had been anticipated three months ago. 

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Economic Commentary

Housing has weakened, but the Fed is unlikely to alter its rate tightening path

The economy continues to show signs of slowing with the housing market, which is on the front lines as the Fed raises interest rates, leading the downtrend. Demand remains strong in many industries, however, with payroll gains still far above the long-run average and inflation not in the same ballpark as the Fed’s 2.0 percent goal — likely prompting another outsized rate hike by the Fed this month