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1. The Federal Reserve delivered its third consecutive rate cut, bringing the Fed funds target range down to 3.5 percent to 3.75 percent, which aligned with market expectations.  The central bank also announced that it will begin purchasing $40 billion in [...]

1. U.S. economic data continued to signal cooling activity: November ISM Manufacturing remained in contraction at 48.2 (anything below 50 indicates contraction), ADP private payrolls unexpectedly fell, and consumer confidence plunged to its lowest since April.  These releases, alongside tame core [...]

1. The recent stock market selloff can be traced to ultra short-term liquidity stress rather than structural economic weakness.  Disruptions in the repo market, combined with the temporary government shutdown, reduced the normal flow of liquidity from the Treasury Department and created momentary dislocations [...]

1. The past seven days have delivered a turbulent and emotional stretch for financial markets. Stocks experienced a fierce pullback as investors rushed to interpret every headline as a signal of deeper trouble.  Sentiment collapsed to unusually depressed levels, with the [...]

1. The government shutdown has finally ended after 43 days, allowing key agencies such as the Bureau of Labor Statistics and the U.S. Department of Commerce to resume releasing reports, bringing economic reporting back on schedule. Inflation pressures continue to [...]