By Tom Burnett CFA On May 5, 2023, the Bureau of Labor Statistics released its Employment Report for April. Total Employment increased by 235,000 to 155.6 million workers. The average monthly gain for the previous six months was 290,000. The unemployment rate was unchanged in April at 3.4% and the rate…
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. …