The Conference Board Consumer Confidence Index edged higher to 91.8 in March (from 91.0), beating expectations of 87.8. This marks the second consecutive modest gain in consumer confidence. However, the index remains on a general downward trajectory observed since 2021 and sits well below pre-pandemic averages

Today, the BLS released its revised Productivity & Costs report for Q4 2025 (Revised) and 2025 Annual Averages. Nonfarm business sector rose 1.8% annualized in Q4 2025 (down from the preliminary 2.8% estimate), as real output grew 1.5% while hours worked edged down 0.2%. Year-over-

The FOMC left the federal funds rate unchanged at 3.50%-3.75% (11-1 vote) on March 18, as anticipated by the markets. The decision passed with most members in favor. Only Stephen Miran voted to lower the target range by 25 basis points. The FOMC statement noted solid