The U.S. takes the policy road less traveled
The difference between U.S. and European economic growth trajectories may come down to policy paths taken or not taken.
Putnam Perspectives
Research insights from active investors
Posts from category: 2
Fed weighs addition to policy toolbox
The Fed may have a desire to switch to a different monetary-policy regime, one that would involve using a permanent balance sheet.
In rising economy, wages are a wild card
By the end of the first quarter, U.S. economic data began to improve somewhat from what had been winter-related economic weakness. After disappointing results from various sectors of the...
Is the Fed fighting the last war?
In recent posts, we have approached the problem of the outlook for interest rates by outlining the questions that surround the potential growth rate of the U.S. economy. It...
If the economy grows, will workers come back?
A look at recent trends in the U.S. economy suggests that the potential U.S. growth rate is declining. The first reason for this conclusion is that investment has been...
How yields can change in a “normalizing” economy
As the Federal Reserve plots its actions and communications strategy for the gradual normalization of monetary policy, fixed-income investors face the challenge of anticipating the future course of interest...
Warming economy may leave bond index cold
It appears likely that the U.S. economy will continue to improve, keeping interest rates elevated and volatile. The U.S. recovery, despite higher taxes, generally rising interest rates, and broad-based...
New home sales shine in U.S. recovery
Based on its internal dynamics, the U.S. economy continues to be one of the most attractive for investors. One of the key pillars of support for the U.S. economy...
Mixed data may hint at economic slowdown
While the U.S. economy merits a degree of optimism, as the recovering housing sector has supported improvement in the labor market and consumer spending, we question the outlook for...