Recent economic reports have been mixed. Gains were widespread across most major industries, although gasoline sales dropped -2.8% m/m on falling prices.
In Congressional testimony, Fed Chair Powell signaled an almost certain rate cut at the end of July. Read more of Dan North's insights.
As expected, the Federal Reserve held the Fed Funds interest rate unchanged at today’s meeting. However the materials accompanying the policy decision showed significant changes and strongly hinted at interest rate cuts in the near future. EH believes that there will be two cuts this year with the first one coming at the July meeting.
Since 1996, Dan North has been with Euler Hermes, the world’s oldest and largest credit insurance company. As the company’s chief economist for North America, he uses macroeconomic and quantitative analyses to help manage Euler Hermes’ risk portfolio of more than $250 billion in annual trade transactions within the region.
As one of the leading U.S. economists, Dan North has appeared on CNBC, Fox Business News, ABC News Now, France 24, and Bloomberg Radio and Television. He has been quoted by USA Today, Barron’s, Bloomberg Business Week, The Washington Post, Paris Le Monde, and The Wall Street Journal. After having predicted the 2008/2009 recession and its implications accurately, Dan North was ranked 4th on Bloomberg’s list of the 65 top economic forecasters in 2010.