Filtered by Policy & Regulation

  • FOMC Commentary: Fed holds rates near zero

    The Federal Reserve Open Market Committee followed up three consecutive rate cuts at their July, September, and October meetings with a pause in December.

  • A melancholy victory lap

    In March, the Federal Reserve Open Market Committee cut overnight interest rates back to the zero lower bound, embarked on a massive QE program, and re-launched (and subsequently doubled down on) financial crisis-era lending programs.

  • What small business owners need to know about the Paycheck Protection Program (PPP)

    Stay-at-home orders issued to slow the spread of the COVID-19 (coronavirus) pandemic have had overwhelming effects on the job market, with 6.6 million Americans filing initial unemployment claims in the final week of March.*

  • Details of the CARES Act Stimulus Program

    In response to the coronavirus economic shock, Congress just passed and we expect President Trump to sign into law, a massive, unprecedented economic stimulus package designed to bridge the economy through this extraordinary period.

  • Massive government stimulus package to bridge the economy

    In response to the coronavirus economic shock, the Senate and White House have agreed to a massive, unprecedented economic stimulus package designed to bridge the economy through this extraordinary period. This plan will be helpful to shallow the economic damage that has already been incurred, and will likely continue to be inflicted, until the outbreak subsides. While some details could change before final approval, major provisions included in the $2 trillion package are discussed below.

  • Investment Perspectives: Economic impact of coronavirus

    Coronavirus concerns and election uncertainty caused waves in the economy and financial markets.

  • Inter-meeting interest rate cut

    The Federal Open Market Committee (FOMC) announced an emergency inter-meeting interest rate cut, the first such action since the early phases of the global financial crisis.

  • Positive monetary impulse, issues facing fixed income, and the stock detour

    Financial markets take their cue from dovish guidance, strong muni performance, and the election's impact on the market are included in this month's Investment Perspectives.

  • Tinkering around the edges

    The Federal Reserve Open Market Committee (FOMC) once again held their target for overnight interest rates unchanged in the month of January, the second-consecutive pause decision following a round of three insurance rate cuts in 2019.

  • Markets in 2020, fixed income year-in-review, and new highs look likely

    Major issues persist with our optimistic outlook, a look back to fixed income in 2019, and a repeat of the market's 2019 result does not appear probable.

  • Maintaining our positive outlook despite rising Middle East tensions

    While we are watching Middle East developments closely, we remain optimistic on our outlook for the economy and stocks.

  • US/Iran/Iraq and the fixed income markets

    Fixed income markets are reacting to the recent developments in the Middle East. It is Day 2 for trading in the New Year and already we have seen a shift into flight-to-safety mode that warrants monitoring.

  • Trade agreements bolster our outlook for the economy and stocks

    Last week saw several important developments that reinforce our positive outlook for the economy and markets.

  • Hold again, hold again, jiggety-jig

    The Federal Reserve Open Market Committee followed up three consecutive rate cuts at their July, September, and October meetings with a pause in December.

  • Global conditions improve, inflation remains low, and December poised to be good

    Global conditions are improving, inflation remains low, and December is poised to be a good month.

  • Stocks reach all-time highs on improving expectations

    Stocks are making new all-time highs due to earnings coming in better-than-expected, lower economic policy uncertainty on reduced trade tensions, strong labor market data, and improving global manufacturing indicators.

  • Economic Data, Limits of Monetization, and Equities Enter Profitable Period

    Investment Perspectives provides insight into the markets from three of Janney's elite strategists.

  • Stocks make new highs on a healthy jobs report and improving manufacturing

    Stocks reached all-time highs last week, driven higher by better-than-expected earnings news and positive economic data.

  • Mission accomplished?

    The Federal Reserve Open Market Committee today reduced their target for overnight interest rates by a third 25bps to a range of 1.50% to 1.75%, completing the Greenspan-esque “three insurance cuts” cycle.

  • Climate change and potential impact on state and local government credit analysis

    Climate considerations can have an impact on the credit quality of municipal bond issuers, analyst Alan Schankel explains.

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