The June 13, 2018, FOMC meeting lived up to the market’s expectation of a 25bp rate increase. This has been widely expected since this is a “live” meeting (meaning that the meeting is followed by a Chairman press conference). This allows the FOMC, though Chairman Powell, to offer an additional opportunity to explain the position taken by the FOMC and to answer questions from the press.
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Behind the Headline: Q1 GDP Lower & March Inflation Higher
On April 27th, the Bureau of Economic Analysis (BEA) released its “advance estimate” for the 2018 Q1 real GDP at 2.3%.
FOMC May 2018 Press Release Changes
Here we have highlighted the changes in the May 2, 2018, FOMC Press Release.
Quarterly Market Commentary – 2018 Q1
This is the first quarter of 2018 market commentary which represents the current views of Chao & Company, LTD.
FOMC March 2018 Press Release Changes
Here we have highlighted the changes in the March 21, 2018, FOMC Press Release.
American Funds: Volatility – What RIAs Are Telling Clients
Philip Chao is quoted on American Funds’ site regarding volatility.
FOMC January 2018 Press Release Changes
Here we have highlighted the changes in the January 31, 2018, FOMC Press Release.
Quarterly Market Commentary – 2017 Q4
This is the fourth quarter of 2017 market commentary which represents the current views of Chao & Company, LTD.
FOMC Dec 2017 Economic Projections
Here we have summarized the accompanying economic projections to the December, 13, 2017, FOMC Press Release.
FOMC December 2017 Press Release Changes
Here we have highlighted the changes in the December, 13, 2017, FOMC Press Release.
Behind the Headline – October CPI
On November 15, 2017, the BEA released its Consumer Price Index showing that the CPI-U rose 0.1% in October.
FOMC November 2017 Press Release Language Changes
Here we have highlighted the changes in the November 1, 2017, FOMC press release.
Behind the Headline – US GDP Surprising at 3 percent
The 2017 Q3 came in at 3% and surprised everyone. What are the contributing factors telling us?
ECB Press Conference October 26th – What has changed?
Here we have highlighted the changes in the October 26, 2017, press release.
GAO Reporting on the State of the Nation’s Retirement System
Research shows that many households are ill-equipped to manage their own retirement account and have little or no retirement savings.
Quarterly Market Commentary – 2017 Q3
This is the third quarter of 2017 market commentary which represents the current views of Chao & Company, LTD.
FOMC September 2017 Press Release Language Changes
Here we have highlighted the changes in the September 20, 2017, press release.
Behind the Headline: Is US GDP Stuck in the Low Gear?
09/11/2017 – The average annual real GDP over the 5 decades since 1950 in the U.S. has been 3.6%. The average GDP in the first decade in the 21st Century was 1.7%. Based on our analysis, we believe the U.S. GDP on average is likely to remain below historical trend.
Behind the Headline – US GDP 2017 Q2 2nd Estimate
On August 30, 2017, the Bureau of Economic Analysis released the Second Estimate for the U.S. second quarter real GDP . In this article, we attempt to understand if the 3% revision is an anomaly.
Behind the Headline – Phillips Curve
The Phillips Curve is a hypothesis and should not be treated as a rule. Here we look at the euro area and the U.S. employment and inflation data to show that there employment or low unemployment is now insufficient to drive inflation.