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Latest Research
Dollars and Sense - U.S. Dollar: The Great Unwind
The U.S. dollar has hit a wall in 2025. After appreciating by over 16% between 2021 and 2024, the trade-weighted dollar has given back over a quarter of those gains in just four months (Chart 1). Many investors are questioning the ability for the U.S. economy to maintain its exceptional global growth position as uncertainty lights up the airwaves.
April 29, 2025
Latest Research
Tariff Policy and Whiplash Weaken U.S. Growth Outlook
The U.S. administration imposed a 90-day pause on reciprocal tariffs, dropping all countries (excluding China) to a flat 10% tariff. This comes in addition to the sectoral tariffs, including steel & aluminum and finished autos & parts. We estimate the effective tariff rate in the U.S. to be 26%, the highest level in over a century. However, this is skewed by the outsized 145% tariff on China.
April 16, 2025
Trending
U.S. Liberation Day Binds The World To High Tariffs
The U.S. administration announced broad reciprocal tariffs today, targeting all trading partners, and not just the countries that run large trade surpluses with the U.S. The tariffs will be implemented under the International Emergency Economic Powers Act (IEEPA) of 1977.
April 02, 2025
Trending
U.S. Tariffs on Automobiles Announced
President Trump announced that on April 3rd, the U.S. will place 25% tariffs on all imported passenger cars and light trucks. However, imported vehicles from Canada and Mexico that are compliant with the USMCA will face the 25% tariff only on the value of content produced outside of the U.S.
March 27, 2025
Updated Publications
State Economic Forecast
After a lackluster 2023, the New England economy rebounded in 2024, recording strong growth on pace with the nation's. We expect growth to decelerate to 1.6% in 2025 as slowing economic fundamentals and trade risks weigh on the region. The Middle Atlantic region experienced a brief rebound to start 2024 that lost stream through the second half of the year. Economic activity in the Upper South Atlantic is expected to shift into lower gear this year, but the region should manage to keep pace with
March 20, 2025
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Updated Publications
Updated Publications
Weekly Bottom Line
April 25, 2025
Updated Publications
Long-Term Forecast
March 21, 2025
Updated Publications
State Economic Forecast
March 20, 2025
Updated Publications
U.S. Quarterly Economic Forecast
March 18, 2025
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Updated Publications
Weekly Bottom Line
April 25, 2025
Updated Publications
Long-Term Forecast
March 21, 2025
Updated Publications
State Economic Forecast
March 20, 2025
Updated Publications
U.S. Quarterly Economic Forecast
March 18, 2025
View more updated publications
Latest Research
Latest Research
Dollars and Sense - U.S. Dollar: The Great Unwind
April 29, 2025
Latest Research
Tariff Policy and Whiplash Weaken U.S. Growth Outlook
April 16, 2025
Latest Research
In Wealth We Trust: U.S. Household Balance Sheet Update
March 13, 2025
Latest Research
Hurry Up & Wait: Congressional Fiscal Priorities in the First 100 Days
February 21, 2025
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Latest Research
Dollars and Sense - U.S. Dollar: The Great Unwind
April 29, 2025
Latest Research
Tariff Policy and Whiplash Weaken U.S. Growth Outlook
April 16, 2025
Latest Research
In Wealth We Trust: U.S. Household Balance Sheet Update
March 13, 2025
Latest Research
Hurry Up & Wait: Congressional Fiscal Priorities in the First 100 Days
February 21, 2025
View more latest research
Commentaries
Commentaries
Real GDP (Q1-2025, advance estimate)
April 30, 2025
Consumer
U.S. Personal Income & Spending (March 2025)
April 30, 2025
Real Estate
U.S. Existing Home Sales (March 2025)
April 24, 2025
Real Estate
U.S. Housing Starts and Permits (March 2025)
April 17, 2025
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Commentaries
Real GDP (Q1-2025, advance estimate)
April 30, 2025
Consumer
U.S. Personal Income & Spending (March 2025)
April 30, 2025
Real Estate
U.S. Existing Home Sales (March 2025)
April 24, 2025
Real Estate
U.S. Housing Starts and Permits (March 2025)
April 17, 2025
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