Filtered by Policy & Regulation

  • Biden unveils his ambitious infrastructure plan

    After recent passage of the $1.9 trillion American Rescue Plan designed for pandemic relief, President Biden has now turned attention to his infrastructure plan.

  • Does it get better than this?

    Monthly releases of measures of economic activity in their regions from many Federal Reserve offices always get attention, but few can match the most recent report from Philadelphia Fed office that reached a level not seen in 50 years.

  • FOMC Commentary: Yes, but what about the SLR?

    Unsurprisingly, the FOMC held rates constant at the zero lower bound at their March meeting, and left other aspects of monetary policy largely unchanged despite rising long-term interest rates.

  • FOMC Commentary: Roughly balanced

    Fed Chair Jay Powell was not shy about sharing his opinions on the economic and policy outlook just two weeks ago in his microwave-side chat.

  • FOMC Commentary: A December to forget

    This is not the first FOMC note in which we have emphasized the unexciting nature of Fed policy in a post-pandemic economic recovery.

  • The sandwich meeting

    November’s FOMC meeting was going to be a non-issue from the moment it was scheduled.

  • Podcast: Federal Reserve September Policy Meeting and Update on Economic Data

    Janney's analysts discuss the global pandemic's impact on the economy.

  • FOMC Commentary: Which one of you forgot the fireworks?

    September’s FOMC meeting was clearly a dull affair. You can almost imagine the two dozen Fed officials sitting on a Zoom call, just asking one another, “So…what do you want to do?”

  • 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.

  • 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.

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