Federal Reserve Raises Fed Funds Rate by 0.25%

By Tom Burnett CFA On May 3, 2023, the Federal Reserve Open Market Committee (“OMC”) decided to raise the Fed Funds rate to a range of 5-5.25% to continue its effort to bring down inflation. The decision was unanimous among all 12 voting members. In its press release, the FOMC stressed that it is…

By Tom Burnett CFA On April 28, 2023, the Bureau of Economic Analysis announced that the PCE price index rose by 0.1% in March. The two previous readings were an increase of 0.6% in January and 0.3% in February. For the month, prices of goods decreased by 0.2% while prices for services rose by 0.2%.…

Safety of Client Asset Letter

By Tom Burnett CFA On April 13, 2023, the Bureau of Labor Statistics released its March report on the Producer Price Index.  The PPI declined by 0.5% in March, after an unchanged reading for February.  The Index advanced 2.7% in the 12 months ending in March, the smallest increase since 2021.   …

By Tom Burnett CFA On April 11, 2023, the International Monetary Fund (“IMF”) issued its updated projections for the World Economic Outlook in 2023 and 2024.  The Outlook sees renewed progress in bringing down global inflation, but it has also reduced its expectations for global growth in 2023 and…