MAIN STREET SENTIMENT AT 7-YEAR LOWEconomic Commentary |
Pessimism has rapidly infiltrated Main Street’s outlook, according to the Federal Reserve’s (Fed) latest edition of the Beige Book.
By our measure, sentiment in the March 6 Beige Book, a qualitative assessment of the domestic economy and each of the 12 Fed districts, fell to its lowest point in seven years. On the surface, the Beige Book’s negative tone is striking compared to recent versions, but context around key words is especially important in this edition.
John Lynch Chief Investment Strategist, LPL Financial
Barry Gilbert, PhD, CFA Asset Allocation Strategist, LPL Financial
Callie Cox, Senior Analyst, LPL Financial