Robert Hughes
Senior Research Faculty
Robert Hughes joined AIER in 2013 following more than 25 years in economic and financial markets research on Wall Street. Bob was formerly the head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to BBH, Bob was a Senior Equity Strategist for State Street Global Markets, Senior Economic Strategist with Prudential Equity Group and Senior Economist and Financial Markets Analyst for Citicorp Investment Services. Bob has a MA in economics from Fordham University and a BS in business from Lehigh University.
-
•
Private Payrolls Show Surprising Strength in January, Adding 444,000 Jobs
“Payrolls growth was unexpectedly strong in January and revisions show more robust gains over the past year. The results support a positive outlook for growth and an eventual slowing of price increases, but upward price pressures may continue a while longer until production and logistical constraints are significantly reduced.” ~ Robert Hughes
-
•
Services-Sector Growth May Have Slowed Again in January
“The services sector expanded in January, but Covid continues to impact operations. Shortages of labor and materials continue to restrain output and sustain upward pressure on prices, though cresting new cases of Covid may provide a small amount of relief.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Fall Again, Remain Very Low
“Weekly initial claims for unemployment benefits fell again, pulling back from a three-month high two weeks ago. Overall, claims remain at a very low level by historical comparison. Most data suggest the labor market remains very tight.” ~ Robert Hughes
-
•
Unit Auto Sales Improved While Assemblies, Inventories, and Prices Stabilize
“Light-vehicle sales picked up in January. Component shortages are still restricting production, but assemblies, inventory, and prices may be starting to stabilize, albeit at extreme levels.” ~ Robert Hughes
-
•
Private-Sector Job Openings Totaled Nearly 10 Million in December
“Job openings rose again while quits eased slightly but remain near record levels. The tight labor market continues to hamper production and sustain upward pressure on prices.” ~ Robert Hughes
-
•
Production Constraints Slowed Expansion in the Manufacturing Sector in January
“Expansion slowed a bit but remained strong for the manufacturing sector in January. Production issues continue to restrain supply and sustain upward pressure prices, but there may be early signs of progress on some issues.” ~ Robert Hughes
-
•
Consumer Sentiment Begins 2022 with a Drop
“Consumer sentiment weakened again in January as consumers reacted to Covid and high prices. Some easing of supply-chain issues, policy actions by the Fed, and consumer spending decisions will all contribute to the future pace of economic activity and price pressures.” ~ Robert Hughes
-
•
Core Capital-Goods Orders Hold at a Record High Level
“New orders for core capital goods remained strong in December. Continued strength for business investment is a positive sign for the economic outlook.” ~ Robert Hughes
-
•
Inventory Accumulation Boosts Real GDP Growth in the Fourth Quarter
“Inventory accumulation boosted headline GDP growth while private domestic demand posted a modest gain. With continued pressure on prices, the Fed is moving to a tightening cycle, boosting the risk of a policy mistake.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Fell in the Latest Week
“Weekly initial claims for unemployment benefits fell back from a three-month high in the prior week and remain at a very low level by historical comparison. Most data suggest the labor market remains very tight.” ~ Robert Hughes
-
•
Private Payrolls Show Surprising Strength in January, Adding 444,000 Jobs
“Payrolls growth was unexpectedly strong in January and revisions show more robust gains over the past year. The results support a positive outlook for growth and an eventual slowing of price increases, but upward price pressures may continue a while longer until production and logistical constraints are significantly reduced.” ~ Robert Hughes
-
•
Services-Sector Growth May Have Slowed Again in January
“The services sector expanded in January, but Covid continues to impact operations. Shortages of labor and materials continue to restrain output and sustain upward pressure on prices, though cresting new cases of Covid may provide a small amount of relief.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Fall Again, Remain Very Low
“Weekly initial claims for unemployment benefits fell again, pulling back from a three-month high two weeks ago. Overall, claims remain at a very low level by historical comparison. Most data suggest the labor market remains very tight.” ~ Robert Hughes
-
•
Unit Auto Sales Improved While Assemblies, Inventories, and Prices Stabilize
“Light-vehicle sales picked up in January. Component shortages are still restricting production, but assemblies, inventory, and prices may be starting to stabilize, albeit at extreme levels.” ~ Robert Hughes
-
•
Private-Sector Job Openings Totaled Nearly 10 Million in December
“Job openings rose again while quits eased slightly but remain near record levels. The tight labor market continues to hamper production and sustain upward pressure on prices.” ~ Robert Hughes
-
•
Production Constraints Slowed Expansion in the Manufacturing Sector in January
“Expansion slowed a bit but remained strong for the manufacturing sector in January. Production issues continue to restrain supply and sustain upward pressure prices, but there may be early signs of progress on some issues.” ~ Robert Hughes
-
•
Consumer Sentiment Begins 2022 with a Drop
“Consumer sentiment weakened again in January as consumers reacted to Covid and high prices. Some easing of supply-chain issues, policy actions by the Fed, and consumer spending decisions will all contribute to the future pace of economic activity and price pressures.” ~ Robert Hughes
-
•
Core Capital-Goods Orders Hold at a Record High Level
“New orders for core capital goods remained strong in December. Continued strength for business investment is a positive sign for the economic outlook.” ~ Robert Hughes
-
•
Inventory Accumulation Boosts Real GDP Growth in the Fourth Quarter
“Inventory accumulation boosted headline GDP growth while private domestic demand posted a modest gain. With continued pressure on prices, the Fed is moving to a tightening cycle, boosting the risk of a policy mistake.” ~ Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Fell in the Latest Week
“Weekly initial claims for unemployment benefits fell back from a three-month high in the prior week and remain at a very low level by historical comparison. Most data suggest the labor market remains very tight.” ~ Robert Hughes