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.
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New Single-Family Home Sales Fell Again in June
“New-home sales fell again in June and supply conditions eased a bit. Rising prices, and somewhat higher mortgage rates should continue weighing on activity.” – Robert Hughes
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Existing-Home Sales Rise as Prices Hit a Record
“Existing-home sales rose slightly in June while record-high prices and changing preferences work to cool the recent pace of activity.” – Robert Hughes
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Weekly Initial Claims for Unemployment Benefits May Be Plateauing Again
“Weekly initial claims for unemployment benefits jumped in the latest week and may suggest a temporary plateau. A tight labor market and a record number of open jobs should continue to drive initial claims lower, but the Delta variant is increasing uncertainty.” – Robert Hughes
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Housing Starts Rise but Permits Fall as Pandemic Pressures Continue to Unwind
“Home construction activity showed further signs of cooling in June. The combination of a reopening economy that may be reversing pandemic-related housing preferences and rising single-family home prices appear to be dampening demand while labor difficulties restrain supply.” – Robert Hughes
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Core Retail Sales Posts a Sharp Gain in June
“Retail sales rose in June with broad gains among the categories. Solid consumer fundamentals suggest a positive economic outlook, though upward pressure on prices is a growing risk for consumer sentiment and consumer spending.” – Robert Hughes
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Industrial Output Rose in June but Details Were Mixed; Capacity Utilization Remains Low
“Industrial output rose in June but the details among industries and market segments were mixed. However, substantial excess capacity still exists. While reopening the economy is boosting demand, supply constraints are pressuring prices. However, a runaway inflationary spiral remains unlikely.” – Robert Hughes
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Weekly Initial Claims for Unemployment Benefits Fell but Remain Elevated
“Weekly initial claims for unemployment benefits fell in the latest week but the trends have slowed, and the levels remain elevated. A tight labor market and a record number of open jobs should continue to drive initial claims lower.” – Robert Hughes
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•
Everyday Prices Continued to Surge in June
“AIER’s Everyday Price Index posted a seventh straight monthly increase, reflecting a wide range of lingering fallout from government lockdowns. As these issues are worked out, price pressures are likely to ease.” – Robert Hughes
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•
Consumer Credit Rose in May
“Consumer credit jumped in May as easing government restrictions boosted economic activity.” – Robert Hughes
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•
Weekly Initial Claims for Unemployment Benefits Are Flattening Out
“The declining trend in weekly initial claims for unemployment benefits may pause briefly, but a tight labor market and a record number of open jobs should continue to drive initial claims lower.” – Robert Hughes
-
•
New Single-Family Home Sales Fell Again in June
“New-home sales fell again in June and supply conditions eased a bit. Rising prices, and somewhat higher mortgage rates should continue weighing on activity.” – Robert Hughes
-
•
Existing-Home Sales Rise as Prices Hit a Record
“Existing-home sales rose slightly in June while record-high prices and changing preferences work to cool the recent pace of activity.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits May Be Plateauing Again
“Weekly initial claims for unemployment benefits jumped in the latest week and may suggest a temporary plateau. A tight labor market and a record number of open jobs should continue to drive initial claims lower, but the Delta variant is increasing uncertainty.” – Robert Hughes
-
•
Housing Starts Rise but Permits Fall as Pandemic Pressures Continue to Unwind
“Home construction activity showed further signs of cooling in June. The combination of a reopening economy that may be reversing pandemic-related housing preferences and rising single-family home prices appear to be dampening demand while labor difficulties restrain supply.” – Robert Hughes
-
•
Core Retail Sales Posts a Sharp Gain in June
“Retail sales rose in June with broad gains among the categories. Solid consumer fundamentals suggest a positive economic outlook, though upward pressure on prices is a growing risk for consumer sentiment and consumer spending.” – Robert Hughes
-
•
Industrial Output Rose in June but Details Were Mixed; Capacity Utilization Remains Low
“Industrial output rose in June but the details among industries and market segments were mixed. However, substantial excess capacity still exists. While reopening the economy is boosting demand, supply constraints are pressuring prices. However, a runaway inflationary spiral remains unlikely.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Fell but Remain Elevated
“Weekly initial claims for unemployment benefits fell in the latest week but the trends have slowed, and the levels remain elevated. A tight labor market and a record number of open jobs should continue to drive initial claims lower.” – Robert Hughes
-
•
Everyday Prices Continued to Surge in June
“AIER’s Everyday Price Index posted a seventh straight monthly increase, reflecting a wide range of lingering fallout from government lockdowns. As these issues are worked out, price pressures are likely to ease.” – Robert Hughes
-
•
Consumer Credit Rose in May
“Consumer credit jumped in May as easing government restrictions boosted economic activity.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Are Flattening Out
“The declining trend in weekly initial claims for unemployment benefits may pause briefly, but a tight labor market and a record number of open jobs should continue to drive initial claims lower.” – Robert Hughes