First Trust market views, organized for advisors.

The economy continues to expand at a healthy pace, defying recession fears with 3.4% real GDP growth in Q3 driven by consumption and business investment, particularly in AI and data centers.

This strength underpins a remarkably resilient job market, evidenced...

The US economy likely grew at a 3.3% annual rate in Q3.

This strength, however, is heavily concentrated in AI and data centers.

The Fed's shift to an "abundant reserves" system post-2008 has severed the link between interest rates and money supply growth, creating policy uncertainty.

This regime, influenced by academic theories like Michael Woodford's, prioritizes managing market expectations over fundamental economic indicators....

Fed independence is under scrutiny, but the real issue is adherence to sound monetary policy.

The article argues that political interference led to the inflation of the 1970s.

The September jobs report, showing only 29,000 new payrolls, dramatically shifted the economic narrative from one of robust growth.

This data volatility highlights the importance of focusing on long-term fundamentals like monetary policy and technological innovation, rather than short-term fluctuations....