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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Pandemic Pressures Continue to Unwind in Housing
“Home construction activity showed additional signs of cooling in May. The combination of a reopening economy that may be reversing pandemic-related housing preferences and rising single-family prices appear to be impacting activity.” – Robert Hughes
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Industrial Output Rose in May on Broad Gains; Capacity Utilization Remains Low
“Industrial output rose in May and is closing in on pre-pandemic levels. However, substantial excess capacity still exists. While reopening the economy is boosting demand, incomes, and confidence, rising prices are a concern. However, a runaway inflationary spiral remains unlikely.” – Robert Hughes
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Discretionary Spending Categories Drag Down May Retail Sales
“Retail sales fell in May with noticeable weakness among discretionary spending. However, solid consumer fundamentals suggest a positive economic outlook, despite some recent upward pressure on prices.” – Robert Hughes
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Consumer Sentiment Rebounded in Early June as Consumer Grew More Optimistic About the Economy
“Consumer sentiment recovered some of the May decline in early June, driven by improving expectations for the economy, jobs, and income. However, fears of rising prices are also weighing on consumer attitudes.” – Robert Hughes
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Everyday Prices Rise at the Fastest Annual Pace Since 2011
“AIER’s Everyday Price Index posted a sixth straight monthly increase, reflecting a wide range of materials shortages, logistical, supply chain, and labor problems. As these issues are worked out, price pressures are likely to ease.” – Robert Hughes
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Job Openings Soar to Another Record High in April
“Job openings soared to a new record in April, suggesting a tightening labor market.” – Robert Hughes
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U.S. Economy Adds 559,000 Jobs in May
“Payrolls posted a solid gain in May as the labor market recovery continues. However, there’s a long way to go and other fallout from the lockdowns including shortages and rising price pressures are tempering the favorable outlook.” – Robert Hughes
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•
Services-Sector Expansion Continued in May
“The services sector expanded again in May, but shortages of labor and materials, a result of production constraints and logistical issues, are restraining capacity.” – Robert Hughes
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•
Auto Sales Slowed in May, but Remained at a Solid level
“Light-vehicle sales eased back to the middle of the recent range in May. A semiconductor shortage is disrupting production and likely distorting sales, inventories, and prices.” – Robert Hughes
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•
Weekly Initial Claims for Unemployment Benefits Post Fifth Straight Drop
“Rising economic activity is driving a strengthening labor market and pushing unemployment benefit claims lower.” – Robert Hughes
-
•
Pandemic Pressures Continue to Unwind in Housing
“Home construction activity showed additional signs of cooling in May. The combination of a reopening economy that may be reversing pandemic-related housing preferences and rising single-family prices appear to be impacting activity.” – Robert Hughes
-
•
Industrial Output Rose in May on Broad Gains; Capacity Utilization Remains Low
“Industrial output rose in May and is closing in on pre-pandemic levels. However, substantial excess capacity still exists. While reopening the economy is boosting demand, incomes, and confidence, rising prices are a concern. However, a runaway inflationary spiral remains unlikely.” – Robert Hughes
-
•
Discretionary Spending Categories Drag Down May Retail Sales
“Retail sales fell in May with noticeable weakness among discretionary spending. However, solid consumer fundamentals suggest a positive economic outlook, despite some recent upward pressure on prices.” – Robert Hughes
-
•
Consumer Sentiment Rebounded in Early June as Consumer Grew More Optimistic About the Economy
“Consumer sentiment recovered some of the May decline in early June, driven by improving expectations for the economy, jobs, and income. However, fears of rising prices are also weighing on consumer attitudes.” – Robert Hughes
-
•
Everyday Prices Rise at the Fastest Annual Pace Since 2011
“AIER’s Everyday Price Index posted a sixth straight monthly increase, reflecting a wide range of materials shortages, logistical, supply chain, and labor problems. As these issues are worked out, price pressures are likely to ease.” – Robert Hughes
-
•
Job Openings Soar to Another Record High in April
“Job openings soared to a new record in April, suggesting a tightening labor market.” – Robert Hughes
-
•
U.S. Economy Adds 559,000 Jobs in May
“Payrolls posted a solid gain in May as the labor market recovery continues. However, there’s a long way to go and other fallout from the lockdowns including shortages and rising price pressures are tempering the favorable outlook.” – Robert Hughes
-
•
Services-Sector Expansion Continued in May
“The services sector expanded again in May, but shortages of labor and materials, a result of production constraints and logistical issues, are restraining capacity.” – Robert Hughes
-
•
Auto Sales Slowed in May, but Remained at a Solid level
“Light-vehicle sales eased back to the middle of the recent range in May. A semiconductor shortage is disrupting production and likely distorting sales, inventories, and prices.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Post Fifth Straight Drop
“Rising economic activity is driving a strengthening labor market and pushing unemployment benefit claims lower.” – Robert Hughes