January 30, 2018— As the Federal Reserve’s Open Market Committee (FOMC) meets this week to discuss interest rate policy, it will mark a changing of the guard in several significant ways. Most obvious is the end of Janet Yellen’s tenure as chair (which formally goes into effect on February 3) and the start of Jay Powell’s leadership.
By Clem Miller, Senior Portfolio ManagerJanuary 18, 2018— Amidst all of the market excitement about U.S. tax reform, many investors fail to appreciate the mounting risk that President Trump could soon announce U.S. withdrawal from the North American Free Trade Agreement (NAFTA).
January 16, 2018— December inflation, as measured by the Consumer Price Index (CPI), held steady on a year-over-year basis at 2.1%. However, the “core” measure, which excludes the volatile food and energy components, had a 1.8% year-over-year increase.