What Happened to Germany's Spending Boom?

Published on November 6, 2025

German officials announced a massive stimulus program in early 2025. The results have been underwhelming so far, but we believe the economic boost to Germany and Europe is still coming.

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Economic & Market Update: Q3 2025

November 6, 2025
Amidst ongoing US policy unpredictability and signs of a softening labor market, the US economy and markets have continued to demonstrate notable resilience. A long-awaited Federal Reserve interest rate cut, and strong corporate earnings supported equity and credit markets - yet policy shifts, elevated stock valuations, and ongoing geopolitical tensions continue to pose potential headwinds.

How the Fed Can Change the K-Shaped Economy

November 6, 2025
Federal Reserve Chair Jerome Powell agrees that there’s probably something to the claims of a K-shaped economy. But at last week’s press conference, he failed to note how the Fed has helped to create it — and the implications it has for monetary policy.