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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 had a brief Q&A with State Street Global Advisors’ Vice President, Portfolio Strategist Will Goldthwait to reflect on this week’s Federal Reserve meeting:
Market News
Neither Invincible, Nor Broken
We have spent much of the last two months (including in a recent piece here) defending our increasingly out-of-consensus call for three Fed rate cuts in 2025. A series of recent data disappointments...
Inflation Ebb and Flow
The CPI inflation report for January came in much hotter than expected, but there were enough oddities in the details to argue for a more balanced interpretation. First, the bad news: overall prices...
Consumers Do Not Like Tariffs!
It is rare that in a payroll week the main focus of the conversation is not the US labor market, but tariffs are certainly stealing the thunder nowadays. The week began with imminent 25% tariffs on...
Misleading Strength?
Last month, we said that the December inflation report “argued vigilance, not panic, on inflation”. And we concluded that three rate cuts in 2025 still made sense as a baseline expectation. That remained our view even in the aftermath of the hawkish December dot plot...
Misleading Payrolls Strength?
For anyone who was hoping to ease into the macro data releases of the new year, the December employment report certainly did not offer such opportunity. Reported job gains totaled 256k, far above the 165k consensus. Revisions to the prior two months were...
