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Federal Reserve

In-depth investment research and commentary from Litman Gregory and our Research Alliance

Apr 18, 2019 Research Alliance March Jobs Report is a Goldilocks Number for the Fed—Eaton Vance

U.S. payroll growth returned to form in March with the economy adding 196k jobs, a bit above the 177k consensus. As far as the Fed goes, this is a perfect Goldilocks number—not too hot and not too cold.

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Apr 17, 2019 Research Alliance The Fed vs. the ECB: Who Will Blink First?—WisdomTree

If bond investors have learned anything this year, it is that the “winds of change” can blow in dramatically different directions regarding monetary policy. Kevin Flanagan discusses how market sentiment has shifted from where we were only four months ago.

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Apr 03, 2019 Research Alliance Did the Fed Cut Rates without Telling Anyone?—WisdomTree

After the March Fed meeting, no more rate hikes appeared to be in the offing for 2019, so naturally, the only place to go from there would be rate cuts. Kevin Flanagan analyzes the Treasury yields that look more like the Fed already cut rates but forgot to tell anyone.

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Apr 03, 2019 Research Alliance The Fed’s "Financial Conditions" Conundrum—Thornburg Investment Management

Just because the market is celebrating the Fed’s policy u-turn doesn’t mean volatility is a thing of the past. Disconnects between fundamentals and assets prices don’t make for market stability.

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Mar 20, 2019 Research Alliance “March”ing Out Like a Lamb—WisdomTree

Is the Federal Reserve leaving March by “going out like a lamb?” Kevin Flanagan discusses the outcome of this week’s FOMC meeting.

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Feb 07, 2019 Research Alliance Capitulation, Thy Name Is Powell—OppenheimerFunds

The U.S. Federal Reserve faces reality and decides to pause on raising interest rates.

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Jan 14, 2019 Research Alliance Suffering Liquidity Withdrawal Syndrome, Market Gets Its Fix—Thornburg

It appears the “Powell Put” has been exercised as the Fed chief declares no “pre-set” course on rates and no “hesitation” to change its balance sheet runoff. But does the economy still need Fed accommodation, or do markets just want it?

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Feb 22, 2018 Market Turbulence and Central Bank Policy Shifts

Following the recent market turmoil, Litman Gregory chief investment officer Jeremy DeGroot shared his thoughts on the investment environment with an audience of our private wealth management clients. We’ve excerpted his comments here.

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Nov 06, 2017 Research Alliance Powell in Charge: How the New Fed Chair Might Govern—Wells Fargo Asset Management

While it’s very early in the game, there are some important indicators of how Jerome Powell might steer the central bank in the coming years.

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Oct 02, 2017 Research Alliance Questions Around Growth, Asset Prices Linger—Thornburg Investment Management

The Federal Reserve’s balance sheet unwind comes amid mixed U.S. data, but the global acceleration in growth and inflation gives it cover to continue normalizing policy and reduce market distortions. The upswing might also give pause to those asserting the death of the Phillips Curve.

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