FOMC May 2019 Press Release Language Change

The two-day regular FOMC meeting ended on May 1 without any surprises.  Even though the FOMC held the rates steady, Chair Powell’s press conference did not signal a rate cut any time soon. The...


Behind the Headline - Above Trend 2019Q1 GDP (advance)

The advance estimate for first quarter real GDP came in at 3.2% and surprised on the upside. This is above the consensus estimate by market participants.  The two federal reserve bank nowcast models...


Quarterly Market Commentary - 2019 Q1

·       The stock market is back after a serious drop in the fourth quarter of 2018.  The tightening financial conditions and the threat of more interest rate hikes along with BREXIT, trade...


FOMC March 2019 Press Release Language Change

Recognizing a slowing U.S. economy and a slowdown in consumer and commercial spending/investments, the FOMC held rates steady.  The Press Release also recognized a still strong labor market and a...


The FOMC is Reviewing its Toolbox of Policy Goodies

On February 22, 2019, Richard Clarida, Vice Chair of the Board of Governors, at the U.S. Monetary Policy Forum , stated that a review of the current Federal Reserve’s monetary policy framework and...


ECB Press Conference March 7, 2019 - What has changed?

Summary  ·       Keep ECB interest rates unchanged and expect to remain so at least through the summer of 2019. (unchanged) ·       Intend to continue reinvesting, in full, the...


Wong, et al vs. Fidelity – Finding New Ways to Get Revenue

In its thirst to maintain and grow assets under administration in an increasingly competitive and dwindling fee environment, a recordkeeper must find a balance between the services it offers and the...


Davis vs. Stadion Money Management, LLC + United of Omaha Life – a First Look

This class action lawsuit shines a light onto the revenue sharing (or possible self-dealing and prohibited transactions) relationship between a recordkeeper and a managed account provider.  Although...


FOMC January 30, 2019, Press Conference Prepared Remarks

2019 begins the Era of Powell Transparency.  In his first of eight “live” FOMC meeting press conferences this year, Chairman Powell stated that the FOMC is “committed to clearly explaining what...


FOMC January 2019 Press Release Language Change

The January 29-30, 2019, FOMC meeting adjourned with the Committee holding the rates unchanged as most economists had expected.  This is the “pause” that the market has been waiting for.  With...