Minutes of the Federal Open Market Committee, September 15-16, 2026

Published on October 7, 2026

Minutes of the Federal Open Market Committee, September 15-16, 2026

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Foreign ETFs Draw Nearly Double U.S. Large-Cap Flows

October 7, 2026
International stock funds outpaced U.S. large caps in September, as ETF inflows cooled and investors leaned toward defensive sectors.

The Big Four Recession Indicators: Employment

October 7, 2026
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of these indicators: nonfarm employment. In September, total nonfarm payrolls increased by 29,000 while the unemployment rate increased to 4.2%