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Mid-Quarter Economic Review

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This week’s Economic Perspective is the mid-quarter review for 2Q23.
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The US economy continues to expand at a moderate rate, led by service sector spending, while inflation continues to decline, but at a painfully slow pace. Financial conditions have tightened in the aftermath of the banking crisis but are currently far from restrictive. Corporate earnings are drifting lower but continue to outperform pessimistic Wall Street estimates. The Federal Reserve will soon vote to pause its tightening cycle in order to assess the economic impact of monetary policy. The equity market is likely to outperform a significantly overvalued bond market through yearend... READ MORE

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May 15, 2023
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