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Looking forward to joining BloombergTV's Fed Day special and talking with tom keene, Lisa Abramowicz and Jonathan Ferro, at about 1:45pm ET.

Fed: No change in policy but "uncertainty" still high - about both inflation and the economy. We continue to see rate cuts this year but not until September or later.

One question is how much would interest rate cuts help in a supply-side shock from tariffs? If unemployment rises, the Fed would react to it because it would slow demand - but it wouldn't address the price shock of tariffs.

The Fed held the federal funds rate steady but noted that the risks of slowing economic growth and higher inflation have risen. schwab.com/learn/story/fo…

Thursday: Talk of a trade deal announcement with UK has buoyed equities. Treasury yields up 3-5 bps and the dollar has firmed up. Jobless claims out today.

Jobless claims at 228K are in line with the recent trend. Continuing claims have been steadily rising however.

US non-farm productivity dropped in Q1 for the first time since 2022. I take the productivity numbers with a grain of salt. On a quarter-to-quarter basis there can be distortions. It's the long-term trend that matters.

Join us at Noon ET today for our live #SchwabCoaching show, Yield Talk: Bond Market Update. watch here: youtube.com/live/qSKy-K9A0… full schedule: schwab.com/coaching/webca…

Inflation expectations are becoming less “well anchored “.

Looking forward to joining Yahoo Finance 'Morning Brief' Friday 5/9 at 9:15am ET and talking with Brad Smith and Mady Mills.

Friday! Equity futures edge up, treasury yields higher by 1-2 bps and dollar slightly lower. No eco data today. Focus is on trade and budget negotiations.

Our colleague Collin Martin joins the #OnInvesting podcast this week and talks with me about the FOMC meeting and market reactions, as well as corporate & muni bond market updates. Liz Ann Sonders and I discuss recent and upcoming economic data. schwab.com/learn/story/sh…

Thank you for having me on the show today.

Thanks for calling attention to this article. It’s worth pointing out that during Covid the Fed opened up swap lines with 9 countries on a temporary basis including Brazil, Korea, Mexico, and Singapore. Soft power at work.

Happy Mother’s Day to all of the moms out there.