About the Author

Luke Tilley

Senior Vice President, Chief Economist

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

Watch Senior Investment Strategist, Meghan Shue on CNBC’s Halftime Report

Luke Tilley |
Wilmington Wire
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November 21, 2019: Watch Senior Investment Strategist Meghan Shue on CNBC’s “Halftime Report,” as she gives her perspective about the China trade deal and other key economic and market matters.Take me there Wilmington Trust is a registered service mark. Wilmington Trust Corporation is a wholly owned subsidiary of M&T Bank Corporation. Wilmington Trust Company, operating in Delaware only, Wilmington Trust, N.A.

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Fed Cuts Rates and Addresses a Scare in the Repo Market

Luke Tilley |
Wilmington Wire
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September 20, 2019 — The Federal Reserve cut interest rates by 25 basis points (0.25%) on Wednesday for the second time this year. The move was very much expected by the market and therefore did not have much of an impact that day. The newly released projections by committee members showed that some think it would be best to reduce rates again this year, while others think it more appropriate to hold at this new level going forward.

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Trump Tweets, Stocks Tumble & Powell Talks: The Word from Jackson Hole

Luke Tilley |
Wilmington Wire
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August 23, 2019 – Today, Federal Reserve Chair Jerome Powell gave his highly anticipated speech at the Fed’s annual research conference in Jackson Hole, Wyoming. Markets were abuzz ahead of time trying to divine whether he would tip his hand and reveal his inclination to reduce rates again at the upcoming September meeting, or if he would signal reluctance and disappoint equity investors. Reactions to the speech have been mixed, with some news outlets portraying it as straddling the line.

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The Federal Reserve is Still on Track to Cut Rates

Luke Tilley |
Wilmington Wire
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July 24, 2019 – Expectations for Federal Reserve action have been on quite a rollercoaster since late 2018 when equity markets fell sharply and interest rates plummeted. This year has been no different and swings in expectations continue this week, and will likely continue until they make their announcement next Wednesday, July 31.

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The Federal Reserve Hints at Rate Cuts to Come

Luke Tilley |
Wilmington Wire
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June 20, 2019 – The Federal Reserve left rates unchanged at its meeting this week, but as we expected it would, it hinted that rate cuts may be coming soon. The Federal Open Market Committee (FOMC) kept an optimistic stance, saying it still expects economic growth to continue, the labor market to remain strong, and for inflation to remain subdued, but that the “uncertainties around this outlook have increased.

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