Economics

Concerns regarding economic improvements are growing within the circle of central bankers in Washington D.C.  On Wednesday, the latest minutes from the Federal Reserve were released, and they show some willingness to take on a “wait and see” approach to monetary policy.

First quarter 2018 economic output was more moderate than earlier estimates suggested according to the Final Revision to Gross Domestic Product (GDP) from the Bureau of Economic Analysis (BEA).  Their latest calculation indicates an annualized growth rate of 2.0 percent, downwardly revised from 2.2 percent in the second tally and 2.3 percent in the initial estimate.  In sum, output sl

Economic output slowed in May 2018 according to the Chicago Fed National Activity Index (CFNAI).  After reaching an upwardly revised +0.42 in April (originally +0.34), it declined to -0.15 in the middle of the second quarter.  Unfortunately, this lower monthly tally hurt the three-month moving average which dropped to +0.18 from +0.48 to start the quarter. 

After a strong uptick in February, the Chicago Fed National Activity Index took a bit of a breather in March 2018.  This indicator, which looks at 85 components, decelerated to +0.10 versus +0.98.  Adding to the tepid tone of the release, the three-month moving average slowed to +0.27 from +0.31 a month earlier.