Joe Brusuelas in the News
Interviews and contributions featuring RSM's chief economist
Joe Bruseulas is frequently asked to speak with reporters or provide commentary on the outlook for the middle market economy, including how proposed or recently enacted policy change will impact middle market businesses.
Read highlights from some of those recent conversations below. See our full media archives for more.
Newsweek, What is a stock market correction? Here's what you need to know, Ryan Sit, 02/10/18: The stock market has been backsliding this week, erasing 2018's gains and recording the two largest single-day declines in points ever…Joe Brusuelas, chief economist at the investment firm RSM in New York, said investors see the Fed's plan as the "end of the era of easy money."
CNBC, You don't go from inflation being too low to it being a big problem..., 02/09/18: CNBC Senior Contributor Larry Kudlow; Greg Ip, Wall Street Journal; and Joe Brusuelas, RSM U.S. chief economist, discuss the potential impact of rising rates on the markets and overall economy.
Yahoo Finance Market Movers, Stocks continue to waver, Trump signs budget to keep gov't open, 02/09/18: Yahoo Finance’s Alexis Christoforous, Jared Blikre, Rick Newman and Joe Brusuelas, chief economist at RSM discuss the big stories of the day. Alexis also talks with Brian O’Kelley, CEO at AppNexus, about advertisers and the Olympics.
Yahoo Finance, Yahoo Finance Answers: When did the stock market last act like this?, Rick Newman, 02/09/18: Amid the market turmoil that has suddenly reared up, investors have a lot of questions. One of the questions the Yahoo Finance audience recently put to us: When was the last time the stock market behaved like this?... “This isn’t over,” Joe Brusuelas, chief economist at financial firm RSM told Yahoo Finance on Feb. 9. “While the worst may be behind us, we should expect several days if not several weeks of more mind-bending volatility.”
Yahoo Finance, Government debt is exploding. Here’s the danger, Rick Newman, 02/09/18: The Trump administration is testing just how much government debt is too much… “Too much government debt crowds out private lending,” says Joe Brusuelas, chief economist at investing firm RSM. “The private sector has to pay a lot more, it slows the pace of investment and hiring, and you get slower growth. The governing party just added $3 trillion to what the kids are going to have to pay back, and the kids have no idea what’s happening to them.”
The Wall Street Journal, U.S. Stocks Dive as Investors Brace for More Volatility, Akane Otani and Jon Sindreu, 02/08/18: The Dow Jones Industrial Average shed more than 600 points Thursday as government bond yields touched multiyear highs, and investors continued to grapple with a recent pickup in volatility…“I’m definitely in the camp that says this is a healthy correction,” said Joe Brusuelas, chief economist at RSM US LLP, who remains optimistic and hasn’t changed any of his forecasts after the rout.
The Wall Street Journal, Strong Jobs Report Brings a New Problem: Labor Scarcity, Ben Eiser, 02/02/2018: Joseph Brusuelas, the chief economist at RSM US LLP, points to a concern that hasn't gotten much airing recently: are there enough people to fill the open positions in the workforce? Here's what he says in a post-report client note: "With little to no slack left in the economy, the major challenge for both policymakers and firm managers is where will businesses find the workers to meet growing demand in a new economy increasingly organized around science, mathematics and technology in a tightening labor market.
The New York Times, Treasury Rout Hammers Stocks: DealBook Briefing: Wage growth picks up, 02/02/2018: The United States economy added 200,000 jobs last month, above the 180,000 Wall Street economists had expected…Economist reactions: Joseph Brusuelas, RSM US LLP: “Given that there is roughly one worker per job opening in the economy, the narrative inside the labor market is rapidly shifting from that of triumph to that of concern amongst firms of all sizes over how to fill positions among labor scarcity. Due to misaligned immigration policies during a time of economic acceleration and the lack of those that are willing and able to work, firms are about to enter a period of rapid integration of technology as a substitute for labor to avoid growing bottlenecks in production and the provision of services.”
The New York Times, Job and Wage Gains Deliver a Promising Start for the Year, Ben Casselman, 02/02/2018: As the unemployment rate has fallen in recent months and the economy has roared, one central question has bedeviled the American job market: Where is the wage growth?…“People who are marginally employable suddenly become highly employable in a period like this,” said Joseph Brusuelas, chief economist of RSM, a financial consulting firm.
CNN Money, America gets a raise: Wage growth fastest since 2009, Patrick Gillespie, 02/02/2018: America finally got a raise. The U.S. economy added 200,000 jobs in January, and wages grew at the fastest pace in eight years. The unemployment rate stayed at 4.1%, the lowest since 2000, the Labor Department said Friday.… Friday's numbers show 2018 "will be a year of rising wages and the tightest labor market in over a generation," said Joseph Brusuelas, chief U.S. economist at RSM, an accounting and consulting firm.
Washington Post, Two areas where Trump’s economy is better than Obama’s, Heather Long, 02/02/2018: The political spin on the economy right now goes like this: Republicans say the United States was in terrible shape until Donald Trump took office and then the economy went from blah to boom. Democrats say “Thanks, Obama.” They argue former president Barack Obama deserves all the credit for pulling the economy out of the Great Recession, and Trump is just riding his coattails… The reality is somewhere in between. “Trump was dealt a good hand by Obama, but Trump has also kept the momentum going,” says economist Joseph Brusuelas of accounting firm RSM. Brusuelas said he believes it is “juvenile” to have endless debates over who gets credit because “the Federal Reserve and the business cycle have also played large roles in the recovery.”
Off-Price Retailing Magazine, 2018 Off-Price Retail Predictions, 02/01/2018: How will the evolving buying habits affect the future of off-price retail? … “The way online retailers are set up, the direction and intensity in which artificial intelligence and machine learning is beginning to be integrated into online platforms provides an existential challenge for the off-price industry.” Joe Brusuelas, Chief Economist, RSM US LLP.
CNBC, Fed leaves rates unchanged but gives more aggressive inflation expectations, Jeff Cox, 01/31/2018: In Janet Yellen's final meeting as Fed chair, the central bank decided Wednesday against increasing its benchmark interest rate but indicated it expects inflation pressures to heat up as the year moves on…"We had a hawkish hold here," said Joe Brusuelas, chief economist at RSM. "What that growth forecast implies is there are upward revisions coming to growth and likely a change in the balance of risks due to inflation moving toward the central bank's target."