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The wait may be over soon
The long wait for the resumption of Fed rate cuts may be soon over. Almost irrespective of the next payrolls report, there is enough softness in broader labor market data to warrant a modest...
Welcome Jackson Hole developments
The Fed Chair’s speech at the Jackson Hole symposium is always acutely relevant for investors, and it proved so once again this year. There were always going to be two key parts to this: the...
Inflation perfectly compatible with September rate cut
The inflation updates for July have been mixed but remain perfectly compatible both with a Fed rate cut in September and further additional reductions. We maintain our long-standing call for 75-bp...
CalTRUST Update
Post Federal Reserve Meeting Q&A
As part of our initiative to bring timely market information to California public agencies, CalTRUST Chief Executive Officer Laura Labanieh held a brief Q&A with State Street Investment Management’s Vice President, Portfolio Strategist Will Goldthwait to reflect on this week’s Federal Reserve meeting:
Post Fed Q&A July 2025
Laura: What’s the Fed’s current stance on interest rates and the economy?Will: The Fed held rates steady at 4.25–4.50%, basically telling the markets: “We’re good… for now.” Think of it like a nervous parent waiting to see if their kid actually studied...
Post Fed Q&A June 2025
Like a Thermostat Set to "Let's Wait and See" Laura: So, another meeting the Fed’s on hold? Will: The Fed decided to keep interest rates right where they are—like a thermostat set to “let’s wait and see.” They think the current setting is just right to...
Post Fed Q&A May 2025
Wait-and-See, and See Some More Laura: So what did the Fed do at this meeting? Will: They did what they’ve mastered over the past few months nothing. Rates were held steady for the third straight meeting at 4.25-4.50%, and the decision was unanimous. If this...
Post Fed Q&A March 2025
Laura: No change in rates, what did we learn today? Will: This FOMC meeting seemed to repeat a lot of what we heard at the January meeting. Mainly, that there is a lot of uncertainty due to the number of variables in play regarding how this administration’s plans are...
Post Fed Q&A December 2024
Laura: Maybe it’s the holiday season, or maybe we’re just worn out from all the speculation about the next four years, but the lead-up to this FOMC meeting felt low-key. Will: Totally agree—and maybe my Nyquil haze is helping keep it that way. Nothing like battling...
White Paper
Exploring Variable vs Constant NAV Investment Options
Understanding the differences between stable or constant net asset value (CNAV) and floating or variable net asset value (VNAV) funds, the benefits and challenges.
