Provided By: Lindsey M. Piegza, Ph.D., Chief Economist
"Production Costs and Wage Growth: The Rising Fear of Persistent Inflation"
Earlier this week, Federal Reserve Chairman Jerome Powell testified in front of the House Select Subcommittee on the Coronavirus Crisis. With recent data indicating the highest rise in inflation in more than a decade, coupled with the Federal Open Market Committee’s acknowledgement of elevated costs, there was a fair amount of focus on prices, interest-rate hikes and the timing for adjustments to the Fed’s bond-buying program. While no specifics were disclosed, the Chairman did concede that the recent bout of inflation, while still expected to prove transitory, was in fact higher than expected and could prove longer lasting than previously anticipated.
Stifel Financial Corp. is a diversified financial services holding company that conducts its business through several wholly owned subsidiaries. Its primary broker-dealer subsidiary, Stifel, Nicolaus & Company, Incorporated, is a full-service brokerage and investment banking firm established in 1890. Stifel Financial Corp. was formed as a holding company in July 1983 and is publicly traded on the New York Stock Exchange under the symbol "SF."