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The Federal Reserve’s preferred inflation measure came in above its 2% target in May, largely in line with expectations but higher on a headline basis. Headline Personal Consumption Expenditures (PCE) rose 4.1% year over year, up from 3.8% in April. Core PCE, which excludes food and energy, increased 0.3% month
Alan Greenspan served as Chairman of the Federal Reserve from August 1987 to January 2006, a tenure spanning nearly two decades and four presidencies, making him one of the longest-serving and most consequential central bankers in American history. Appointed by Ronald Reagan and reappointed by George H.W. Bush, Bill Clinton,
Iran Conflict Update: After the Signing The U.S. and Iran signed a memorandum of understanding (MOU) on June 17 and 18, and the agreement is real: the fighting has stopped, the naval blockade has been lifted, and the Strait of Hormuz is reopening. What matters now is what the deal
Monetary Policy Economic Conditions and Projections The FOMC is next scheduled to meet July 28th – 29th, 2026. Disclosures The views expressed herein are those of Asset Consulting Group (ACG). They are subject to change at any time. These views do not necessarily reflect the opinions of any other firm.
The Peace Deal Over the weekend, the United States and Iran announced an agreement that ends the war and reopens the Strait of Hormuz. Pakistan mediated the talks, and the formal signing is scheduled for Friday, June 19, in Switzerland. The agreement calls for an immediate and permanent end to
On June 10, 2026, the Bureau of Labor Statistics released the Consumer Price Index for May, showing headline inflation rising to 4.2% year over year, the highest level since April 2023, and up from 3.8% in the previous month. While the annual figure marks a third consecutive month of inflation
Wholesale inflation accelerated sharply in May, with the Producer Price Index for final demand rising 1.1 percent on the month, pushing the 12-month rate to 6.5 percent, the highest annual reading since November 2022. Both figures came in above consensus expectations: Dow Jones surveyed economists had called for a 0.7
The expected public offerings of SpaceX, Anthropic, and OpenAI are shaping up as the defining IPO events of 2026. Taken together, they could become some of the largest listings in market history, with reported private or targeted valuations ranging from the high hundreds of billions of dollars to well above
The U.S. economy added 172,000 nonfarm payroll jobs in May, according to the Bureau of Labor Statistics, and the unemployment rate held steady at 4.3 percent. That headline number lands essentially in line with April’s revised print of 179,000, itself a significant upgrade from the originally reported 115,000 thanks to
The May ISM reports show that the U.S. economy is still growing, and growth is becoming more widespread across both manufacturing and services. However, cost pressures remain elevated and are now spreading into services, and the labor market continues to show signs of weakness even as overall activity improves. Manufacturing:
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