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First Quarter GDP and Weekly Jobless Claims

KEY DATA: GDP: +0.5%; Consumption: +1.9%; Income: +2.9%; Core Consumer Inflation: +2.1%/ Claims: +9,000 IN A NUTSHELL: “The economy eked out a gain in the first quarter but with incomes rising solidly, we should see better growth in the quarters to come.” WHAT IT...

FOMC Meeting – April 26-27, 2016

In a Nutshell: “Moderating economic growth and consumer spending keep the Fed on hold.” Rate Decision: Fed funds rate range maintained at 0.25% and 0.50% The FOMC members came, they talked, and they didn’t do much other than signal that they will continue to do not...

March Leading Indicators and Weekly Jobless Claims

KEY DATA: Leading Indicators: +0.2%/ Phila. Fed: -14 points: Expectations: +13.8 points/ Claims: down 6,000 IN A NUTSHELL: “The economy is continuing to expand slowly and the labor market is tightening, but the manufacturing sector remains weak.” WHAT IT MEANS: Next...

Too Much of Everything

Several years ago, I drove around the Phoenix market with a franchise owner who had successfully navigated the build and bust cycles in the telecom industry. As we approached busy trade areas, he would point to a bank and say, “There are too many banks.” Next would be...