In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel delves into the ongoing volatility from President Trump’s on-again/off-again tariffs, the public tensions between Trump and Federal Reserve Chair Jerome Powell and the question of a Fed free of political influence, and what happened with earnings in the first quarter of 2025.
01:52 – Both new unemployment claims and continuing unemployment claims remained stable, despite recent and ongoing market volatility.
02:20 – Existing home sales fell in March by 5.9%, the biggest month-over-month decline since November 2022.
02:57 – The Federal Reserve's Beige Book report came out on Wednesday, showing that economic activity changed very little since the previous report.
03:06 – Comments on shifting U.S. tariff policy, including American and Chinese leadership’s concession that things might have gotten out of hand, and Treasury Secretary Scott Bessent’s hints at lower tariffs in the future.
07:18 – Discussion on President Trump’s public battle with Fed Chair Powell on interest rates, questions around the Powell’s job security and the notion of an independent Federal Reserve, and how this all impacts the bond market.
12:08 – Analyzing the relatively small 6% dip to the equity markets year-to-date amid ongoing volatility, and how negative sentiment and positive momentum can work together to push the market higher.
17:35 – Looking ahead to next week’s earnings reports and indicators to watch out for, chiefly Friday’s employment report.
Additional Resources
Key Questions: What Is the Mar-a-Lago Accord and Why Should Investors Care? | Key Private Bank
Key Questions | Key Private Bank
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