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- New York Times quotes Diane Swonk on jobs outlook 04.19.2013
Bloomberg asks Diane Swonk to explain Fed concern over unemployment
03.08.2013- Marketplace radio calls on Adolfo Laurenti for European analysis 02.26.2013
- Financial Times asks Diane Swonk about Fed caution 01.30.2013
- CNBC Asia turns to Adolfo Laurenti for European expertise
01.10.2013
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Media Mentions
- New York Times quotes Diane Swonk on jobs outlook 04.19.2013
- Bloomberg asks Diane Swonk to explain Fed concern over unemployment
03.08.2013
- Marketplace radio calls on Adolfo Laurenti for European analysis 02.26.2013
- Financial Times asks Diane Swonk about Fed caution 01.30.2013
- CNBC Asia turns to Adolfo Laurenti for European expertise
01.10.2013
Who We Are
Founded in 1937, Mesirow Financial is a diversified financial services firm headquartered in Chicago. We are an employee-owned, private company with approximately 1,200 employees globally.
Founded in 1937, Mesirow Financial is a diversified financial services firm headquartered in Chicago. We are an employee-owned, private company with approximately 1,200 employees globally.
What We Do
Mesirow Financial understands, anticipates
and meets the financial needs of its clients – institutions, public sector entities, corporations and individuals – with a multitude of
high-quality products and services.
Mesirow Financial understands, anticipates
and meets the financial needs of its clients – institutions, public sector entities, corporations and individuals – with a multitude of
high-quality products and services.
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Chicago, IL 60654 (Map & Directions)
Phone: +1 312.595.6000
Toll Free: +1 800.453.0600
Chicago, IL 60654 (Map & Directions)
Phone: +1 312.595.6000
Toll Free: +1 800.453.0600
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Fed Stands Pat but Upgrades Forecast Slightly
The Federal Open Market Committee (FOMC) voted to maintain its current easy stance towards monetary policy. Specifically, the FOMC held onto its stance that it would hold the fed funds rate at or near zero until late 2014. This is despite a slight upgrade in the forecast for 2012, and a slightly lower unemployment rate projection for year-end.
The dispersion of forecasts was tighter than the last time Chairman Ben Bernanke presented the Fed’s outlook. Those expecting the Fed to hold off raising rates until 2016,in particular, have moved their projection for a hike in interest rates up by about a year.
That said, the Fed is still clearly hedging downside risks. Europe, in particular, has reemerged as a primary risk to the outlook. A financial meltdown in Europe would prompt the Fed to act; the question is how much of an impact monetary policy can have at this stage of the game. Moreover, the forecasts for 2013 and 2014 were downgraded, which justifies the Fed’s current easy approach to policy.
Bottom line: Voting members at the FOMC are still more dovish than hawkish, and feel somewhat vindicated now that the seasonal boost to growth has begun to play out. The risks associated with Europe, oil prices and fiscal policy are clear headwinds and tail risks to the outlook.