The U.S. political focus has shifted to the reopening of the economy.

Over the next several quarters, monetary conditions will likely be set not only by Fed balance sheet policies, but also by the expected path of interest rates.

The U.S. labor market disruption is the worst the country has experienced in recent memory, suggesting that the decline in overall activity could also be much more severe.

The Fed has moved aggressively to stabilize core assets, including mortgages. Yet several market indicators are still concerning.

The $2.2 trillion stimulus is the biggest ever, but the U.S. Congress may be forced to do even more.

Canada’s economy may be at greater risk for lasting damage, but we believe Ottawa is well-positioned to respond.

The Fed’s aggressive support may help keep markets functioning, hasten recovery and avoid longer-term damage.

A bolder fiscal response to the rapidly spreading coronavirus has become an economic and political imperative.

The Fed announced two actions Thursday in response to stress in the market for U.S. Treasuries.

Fed rate cuts may be less effective at boosting the economy or markets as societies grapple with the spread of COVID-19, but other policy measures may help.

The Federal Reserve wants to avoid a crisis of confidence.

History teaches that epidemics tend to have short-term effects on economies and markets, but great uncertainty remains about the coronavirus.

As the Fed winds down its T-bill and repo programs, we don’t anticipate market volatility to emerge – at least not as a result of the Fed’s actions.

In its December forecasts, the Federal Reserve estimates that the policy rate will hold steady through 2020. Will economic and trade developments change that view?

Fed Chair Powell signaled that another “insurance” rate cut is unlikely. Instead, further rate cuts are contingent on a more material deterioration in the economic outlook.

Weakness in the U.S. economy leaves it vulnerable to shocks. We think the Fed will respond with additional easing this year.

Even with additional cuts, we think economic growth could slow to a below-trend pace and prompt the unemployment rate to rise over several subsequent quarters.