Economic News – October 2023
(Printable PDF) Year-End Shocks and High Rates Heighten Recession Risk As expected, the Federal Reserve held rates steady at the September 19-20 policy meeting, following 11 hikes over the last 18 months that lifted short-term rates from near zero to a range of 5.25-5.50 percent. The jury is still out as to whether the central […]
Economic News – September 2023
(Printable PDF) The Economic Engine is Running Out of Fuel Economists are sounding ever-more like Gilda Radner of Saturday Night Live fame, claiming “never mind” about their recession call of a few months ago. What’s behind their mea culpa? Well, the economy for one thing. The drumbeat of stronger-than-expected data continues to roll in, defying […]
Five Questions With Mona Macero
Ms. Macero serves as Brookline Bancorp’s Senior Vice President, Managing Director in the Commercial Markets Payment Group. She joined the Bank in July 2019 as SVP, Director of Cash Management.
Economic News – August 2023
(Printable PDF) Will This Time Be Different? Contrary to revised expectations – and robust economic data – the business cycle has not been repealed. Yes, a recession is coming, but it is taking an awfully long time to arrive. When it does, its shape may look different, more like a mini recession than an outright […]
Low-Income Housing Tax Credits Are Good Business for Banks
Ali Abdullah is Senior Vice President of Community Development and Finance at Brookline Bank. Banker & Tradesman recently published Ali’s byline article re: how low-income housing tax credits are good business for banks, and how the program can offer a model for Massachusetts to add more housing.
Economic News – July 2023
(Printable PDF) A Pause Does Not Mean Stop As the curtain rises on the second half of the year, the economy’s growth engine is still running on most cylinders. Consumers, the main growth driver, are keeping their wallets open, jobs are still being created at a healthy pace, workers are getting decent raises, and the […]
Economic News – June 2023
(Printable PDF) Why Are Economists So Glum? Economists are often called dismal scientists, as they are more likely to see the proverbial glass as half empty than half full. That label is vividly on display now, as the forecast of a recession within the economic community is more pronounced than ever. In its May survey, […]
Economic News – May 2023
(Printable PDF) From One Challenge to Another While the challenges that rocked the financial markets in March have been defused, their aftereffects are rippling through the economy. We’ll have a better sense of how much credit conditions have tightened on May 8th when the Federal Reserve releases its Senior Loan Officer Opinion Survey. The good […]
Economic News – April 2023
(Printable PDF) The Fed’s Direct & Indirect Effects It is a time-honored adage that monetary policy affects the economy with long and variable lags. Well, that time is up, if the tumult caused by the failure of a few regional banks is any indication. It’s important to remember that central bank rate changes impact the […]
Economic News – March 2023
(Printable PDF) The Economy’s Roller Coaster Ride Continues Renewed economic vigor is upending expectations. Last year ended with a thud, with consumers retrenching, inflation receding, and financial markets slumping. Recession fears became more pronounced as did expectations the Federal Reserve would soon pause its aggressive rate-hiking campaign to prevent a deep slump that would throw […]
Economic News – February 2023
(Printable PDF) Slowing Inflation Offers Hope for 2023 Murphy’s Law played out in dramatic fashion last year, as virtually anything that could go wrong seemingly did. The pandemic morphed into a new variant; Russia’s invasion of Ukraine ignited a spike in energy, food and other commodity prices that reinforced the worst inflation outbreak in 40 […]
First-Time Homebuyers Mortgage Opportunities Abound
(Printable PDF) Brookline Bank’s Allan Martorana, SVP and Mortgage Banking Team Leader, contributed the following article to the Allston Brighton Community Development Corporation (ABCDC) 2023-2024 Homeownership Resource Guide. Many thanks to the ABCDC for permission to share the article. First-time homebuyers, your window of opportunity may have just opened. For the past ten years, […]
