At the 2025 Jackson Hole Symposium, central bank leaders, including U.S. Federal Reserve Chair Jerome Powell, highlighted that the current economic landscape presents a unique set of challenges that are distinct from historical precedents. Shifting dynamics of labor markets, demographics and...

While last week's economic data presented a mixed picture, the expectation is a 25 basis point Fed cut in September. Inflation and producer prices rose, retail sales were steady, and consumer sentiment declined. Key upcoming events include the Fed’s Jackson Hole symposium, with major central...

Trade policy uncertainty has morphed into tariff pass-through uncertainty. President Trump’s nomination for a new Fed Governor buys him time to decide on Jerome Powell’s replacement. New production data shows diverging views on the economy. The S&P 500 advanced by 2.44%, recovering from losses...

Today, the Bank of England cut its Bank Rate by 25 basis points to 4.0%, the fifth reduction over the last year and the lowest level since March 2023. The decision was highly contested, requiring two rounds of voting for the first time in the bank’s history, with a 5‑4 split. One member broke the...

Many expected last week’s news to focus on President Trump’s August 1 tariff deadline and related lawsuit, the Federal Reserve meeting, and GDP and PCE data. Instead, Friday’s weak job report dominated headlines. The report, which showed that employers added just 73,000 jobs (vs. 115,000...

On Wednesday, July 30, 2025, the Federal Open Market Committee (FOMC) voted to hold the Fed Funds rate at a target range of 4.25%-4.50%. This follows months of mounting political pressure on Chair Powell to cut rates. For the first time since 1993, two Fed Governors dissented on the rate...

Stock markets continued their upward trend last week with the S&P 500 gaining 1.47% on the week (9.42% YTD), hitting a record, while existing home sales dipped. President Trump announced a trade deal with Japan, which includes reciprocal tariffs and a large Japanese investment package. President...

Trade tensions escalated last week with Trump proposing widespread tariff increases affecting over 50 nations. A Trump Fed appointee proposed a 25 basis point rate cut in the Fed’s next meeting at the end of July, but the market isn’t counting on any changes until September. New CPI and PPI data...

Jackie Bowie speaks with Bloomberg on how U.S. and Canadian companies are boosting FX hedges amid rising costs.

The optimism surrounding the passing of the One Big Beautiful Act quickly faded as the Trump Administration announced they would send letters to several U.S. trading partners implementing higher tariff rates effective August 1. Markets were on edge as they continued to deal with the uncertainty...