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.
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.
In the July–August issue of our monthly flagship publication, we feature:On the Record by Chief Investment Officer Tony Roth, where he explains why—despite the fact that a U.S.–China trade truce, impending Fed rate cuts, and all-time S&P 500 highs are quite encouraging for the economy and markets—we are more cautious on these drivers heading into the second half of the year.