Notes from the Desk | FOMC Meeting: Steady as She Goes May 01 2024

Notes From the Desk – FOMC Meeting: Steady as She Goes   Today’s FOMC meeting was as expected.  The Federal Reserve (Fed) kept rates unchanged while announcing well-telegraphed changes to Quantitative Tightening (QT). The key points:   The Fed believes that it will take longer to reach the confidence that inflation will drop to 2%. […]

Notes from the Desk | Tracking Trends: CAD CPI on the Downward Path April 16 2024

Notes From the Desk – Tracking Trends: CAD CPI on the Downward Path   Governor Macklem and Co. are going to be pleased with the March CPI data. By the numbers:   Headline CPI 2.9% (2.9% expected) CPI Median 2.8% (3% expected) CPI Trim  3.1% (3.2% expected)   Implications. At their last meeting, the Bank […]

Notes from the Desk | Two For One Special – US Inflation & The BoC April 10 2024

Notes From The Desk: Two For One Special – US Inflation & The BoC   US Inflation. US CPI came in hotter than expected for the third month in a row.   Headline inflation printed at 3.5% (vs. 3.4% expected). Core inflation came in at 3.8% (vs. 3.7% expected). Today’s data does not signal the […]

Notes from the Desk | North American Employment Data – Central Bank Conundrum April 5 2024

Notes From the Desk- North American Employment Data – Central Bank Conundrum   Today’s employment data does not make steering monetary policy any easier for the Federal Reserve (Fed) or Bank of Canada (BoC).  The US economy continues to produce plenty of jobs without upward wage pressure, while Canada produced no jobs, but wages continue […]

Notes from the Desk | FOMC Meeting – Sticking To The Plan March 20 2024

Notes From The Desk – FOMC Meeting – Sticking To The Plan   Today’s FOMC meeting was more about what did not change.  Given the stronger-than-expected inflation data this year, the market feared that the Federal Reserve (Fed) would dial back the number of rate hikes to expect this year.  Despite modest changes to forecasts […]