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.
June 6, 2019 – After closing out the month of May on a sour note due to sharply escalating U.S. trade tensions with both China and Mexico, the equity market rallied sharply on Tuesday in response to comments from Fed officials that were perceived as being more open to the possibility of rate cuts going forward. Chair Powell mentioned in a speech this week that the Fed would “act as appropriate to sustain the expansion,” while the St.
In the June issue of our monthly flagship publication, we feature:On the Record by Chief Investment Officer Tony Roth, where he talks about the confluence of political and economic factors that led our Investment Committee to reduce a years-long overweight to equities—with the proceeds shifted first into cash, and later, fixed income—and our continuing concerns.