Author’s Note:  Patty Healy, Cumberland’s Senior Vice President of Research, assisted with this commentary.

As expected, the FOMC increased the range for the federal funds rate by 75 basis points to 3–3.25%, and the message delivered by Chairman Powell was clear that the FOMC intended to continue such tightening, as reflected in the September SEPs — the median funds rate was now predicted to be 4.4%…

Markets did not like the August CPI increase over the number from July, which remained essentially unchanged, though a significant decline had been predicted. The Bureau of Labor Statistics just published the CPI for August and provided along with it a detailed breakdown of the CPI into over 300…

This is the beginning of a multipart series on ESG. ESG is loosely defined as environmental, social, and governance factors in investing. There is an evolving rating system, with multiple factors. It is applied to different types of organizations, and it is becoming a worldwide standard. In the…

Many readers continue to ask about the Fed’s 2% inflation target, especially after the recent CPI and the market’s reaction to it. Here’s the Fed’s own explanation, courtesy of the Federal Reserve Bank of St. Louis. We recommend it for a clear explanation of what 2% means.

Barron’s ran this column on Friday afternoon before Labor Day weekend. It’s worthwhile. It discusses the Phillips curve and versions modified for current usage.

Following a steep decline in 2021, Chinese stocks have provided a roller-coaster ride to international investors thus far in 2022, as positive spurts encounter headwinds that cut short market recoveries. For example, the SPDR S&P China ETF, FXI, after hitting a low in mid-March, staged…

The philosopher and Holocaust survivor Elie Wiesel said, “Words name things and then replace them.” He was reflecting on the nature of history as time passes. He was speaking about the word Holocaust, which, at the time I heard him say it, meant the World War 2 period and the concentration camps…

Dear Clients & Friends,

My friend Brent Donnelly of Spectra Markets, tenured regular attendee at the annual gathering in Maine, has granted permission to share his excellent research note about US dollar strength and stock markets.