About the Author

Luke Tilley

Executive Vice President

Luke is Chief Economist and Head of Asset Allocation and Quantitative Services for Wilmington Trust Investment Advisors (WTIA), a part of the M&T Bank family. Luke is also a member of WTIA’s Investment Committee.

Prior to joining Wilmington Trust in 2015, Luke was an officer and economic advisor with the Federal Reserve Bank of Philadelphia. Earlier in his career, Luke worked as a senior economist at IHS Global Insight (now IHS Markit) and as an economist for the U.S. Department of Housing and Urban Development.

Luke holds a Ph.D. in economics from Temple University and a bachelor’s degree in economics and history from James Madison University. He is a former adjunct faculty member at Temple University and formerly served on the board of directors of the Pennsylvania Economic Association. In addition, Luke is former president of the Philadelphia Council for Business Economics, a chapter of the National Association for Business Economics.

By the Author

Is it the Economy, Stupid?

Luke Tilley and Rhea Thomas |
Wilmington Wire

October 30, 2020 — Yes, like many others we’re harkening back to James Carville’s famous statement from the 1992 election of the importance of the economy to voters. The trite expression would likely have been retired by now were it not so accurate. Yet in 2020, it comes with the caveat that this year’s recession was brought on by the most exogenous of events, a global pandemic, and less likely to be pinned on whoever is currently at the wheel.


The Federal Reserve’s New Strategy and Implications for Markets

Luke Tilley |
Wilmington Wire

September 2, 2020—Last week the Federal Open Market Committee (FOMC) of the Federal Reserve announced changes to its Statement on Longer-Run Goals and Monetary Policy Strategy. That official statement, first adopted in 2012 and only modified slightly in years since, is an important guidepost for markets, as it formally establishes how the Fed interprets the mandate given by Congress.


Stimulus Package is Paramount for Economy

Luke Tilley |
Wilmington Wire

July 31, 2020—As we head into the weekend, Congress is facing some self-imposed deadlines and increasing pressure to pass a new fiscal stimulus package to support the still-weak economy. The most often cited technical deadline is today, July 31, the official end date of the $600 per week boost to unemployment insurance (U/I) recipients.


Episode 9: U.S. Federal Debt—From Bubble to Balloon

Tony Roth and Luke Tilley |
Capital Considerations with Tony Roth

May 18—$6.0 trillion. Roughly half of that was recently given out to ease Americans’ COVID-19-induced economic suffering—with nearly another $3 trillion now proposed. That’s atop a U.S. debt tab of over $20 trillion. Our CIO Tony Roth and Chief Economist Luke Tilley discuss why it matters, whether we should be worried, and the importance of having a plan. Please listen to important disclosures at the end of the podcast.Don’t let important insights pass you by.


Damage Control: The Economic Fallout of Outbreak and the Fed’s Response So Far

Rhea Thomas and Luke Tilley |
Wilmington Wire
The Fed.jpg

May 1, 2020—The damage to the U.S. economy resulting from the outbreak and social-distancing restrictions has started being revealed over the past few weeks. Businesses have temporarily shuttered, which has forced a drastic hit to consumer spending. The damage to labor markets was immediately seen in weekly unemployment claims figures. Now we have monthly and quarterly data trickling in confirming the dire forecasts.The most timely and striking indicator has come from the labor market.