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What We Are Following in the News

In the latest Bloomberg survey of economists, respondents expect policymakers to lower rates next Wednesday and follow up that move with two more quarter-point cuts in 2026. https://buff.ly/kfWGF3C

Even in normal times, it takes many months for monetary policy to make a meaningful impact on households and firms. And although rates on mortgage and car loans have come down from their peaks, they still have a long way to go.

Seattle ranks among the country's highest-earning metros for early-career workers — and new Glassdoor data shows those wages are still growing at a solid clip. The Seattle area ranked 15th for early-career wage growth nationally, with wages rising about 5% a year on average and 28% overall since 2020. https://buff.ly/aVv9Lg4

Americans head to dollar stores as affordability crunch pinches consumers. Dollar General and Dollar Tree continue to enjoy popularity among wealthier households with a YoY increase between 2.5% and 4.2%. https://buff.ly/AgE9XEv

Massachusetts Institute of Technology on Wednesday released a study that found that artificial intelligence can already replace 11.7% of the U.S. labor market, or as much as $1.2 trillion in wages across finance, health care and professional services. https://buff.ly/0oFp4ji

Applications for US unemployment benefits fell last week to the lowest in more than three years, indicating that employers are still largely holding onto workers despite a wave of recent layoff announcements. https://buff.ly/JAcH51n