Trillion Dollar Deficits and Negative Rates

  According to data just released by the Treasury Department the U.S. budget deficit topped $1 trillion through the first 11 months of the current fiscal year.  The figure exceeds the official forecast and adds to the nation’s growing debt balance, which is now in excess of $22 trillion.  The gap is especially noteworthy as
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Are Lower Rates Really Worthy of a Celebration by the Market?

Crosscurrents following the June Fed meeting have been significant, particularly given there was no change to existing rate policy.  Market expectations anticipated a more dovish policy stance, and the shift was consistent citing slower economic growth and weaker business investment.  While there was no action at this meeting, the Fed all but confirmed it would
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National Economic Update from Anirban Basu (Early 2019)

Conflicting Economic Numbers Paint a Confused Portrait Heading into 2019 The year 2018 will go down as a fine year for the U.S. economy.  Despite evidence of a slowing global economy, America’s still managed to expand 2.9 percent last year.  The U.S. ended the year in fine fashion, with the nation adding 227,000 net new
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Local Economic Update from Anirban Basu (Early 2019)

Maryland Posts a Decent 2018 Federal Shutdown Isn’t Enough to Reverse Momentum Directly bordering the nation’s capital, Maryland is in a unique position.  Its proximity offers a steady flow of government contracts, thousands of handsomely compensated and abundantly educated federal workers, and a number of agencies like the National Institutes of Health, Food & Drug
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