Media archives

RSM economics in the news

Recent media appearances by our economics team

Committed to understanding and decoding the middle market economy

Andreia DeVries, National Public Relations Manager, andreia.devries@rsmus.com, 212.520.1266
for media use only 

Joe Brusuelas and the RSM economics team are frequently asked to speak with reporters or provide commentary on the outlook for the middle market economy, including how proposed or recently enacted policy changes will affect middle market businesses. 

Read some of the team's recent media conversations below.  See our full media archives for more.

2022 economic media

2021 economic media

2020 economic media

2019 economic media

BNN Bloomberg, Look for modest, unspectacular growth for Canada in 2020: RSM, 12/30/2019: Canadian economic growth was muted to cap off 2019 after a hot start to the year. For perspective on this, and why he sees modest, unspectacular growth in 2020, BNN Bloomberg spoke with Joe Brusuelas, chief economist at RSM.

Cheddar, Holiday Cheer for Amazon and Apple at End of 2019, 12/27/2019: Joe Brusuelas, chief economist at RSM, discusses big wins for Amazon and Apple ahead of the new year.

Xinhua, Yearender: U.S. Fed's sharp policy U-turn in 2019, 12/26/2019: After four rate hikes in 2018, the U.S. Federal Reserve cut interest rates three times in 2019, making a remarkable and sharp U-turn in its monetary policy…"This reinforces our view that with the 2020 elections approaching, the Fed will keep interest rates on hold," said Joseph Brusuelas, chief economist with RSM US LLP, an audit, tax and consulting firm.

POLITICO, 3 factors that could make or break Trump in 2020, Ben White, 12/23/2019: The president’s big economic achievements were wrapped up in 2019. Now Trump needs momentum in the economy and markets to stretch out for more than 10 months through Election Day…The halt to Boeing 737 Max production next month will likely shave half a percentage point off first-quarter economic growth, RSM economist Joe Brusuelas said in a note to clients. “The economic damage will likely be noted via the inventory channel, factory orders, industrial production and likely headcount among aircraft suppliers.”

TD Ameritrade, Joe Brusuelas Discusses The Effects Of The Boeing 737 Grounding, 12/19/2019: RSM does a survey about what people expect from a sentiment standpoint. Walk me through what you guys are seeing…What we create is a Middle Market Business Index. This is an index of main street businesses. Things are looking very, very solid.

Associated Press, Halting 737 Max production will hit suppliers, airlines, Tom Krisher, 12/17/2019: RSM Joseph Brusuelas: As Boeing prepares to shutter much of a huge factory near Seattle that builds the grounded 737 Max jet, the economic hit is reverberating across the United States in places such as Wichita, Kansas, Stamford, Connecticut, and Cincinnati…Joseph Brusuelas, chief economist for RSM, a tax advisory and consulting firm, predicted layoffs by suppliers and wrote in a note that some may have trouble staying in business. Similar articles in CNN BusinessPoliticoWashington Post and Manufacturing.net, among others.

CNBC, 'Decade of the central bank' ends with the Fed and its global cohorts in need of some new tricks, Jeff Cox, 12/17/2019: On Nov. 25, 2008, the Federal Reserve launched the shot heard around the financial world. The central bank announced it would start using digitally created money to buy mortgage debt in an effort to drive down interest rates and resuscitate a dead housing market… "We're going into a very different period of Federal Reserve policy than we've experienced since 2012. I think what they are going to be putting into play is a more aggressive form of forward guidance," said Joseph Brusuelas, chief economist at RSM.

Middle Market Growth, November Retail Sales Not Full of Holiday Cheer, Joseph Brusuelas, 12/16/2019: The traditional holiday sales did not get off a robust start in November, which was most likely because of a late Thanksgiving holiday that pushed some spending into December. After peaking in mid-2019, overall retail sales will need to pick up in December to support growth anywhere near 2% in the current quarter…Brusuelas is chief economist for RSM US LLP.

Axios, Economists shrug off downbeat retail sales, 12/16/2019: What's happening: Rather than interpret the data as a sign that the all-important consumer is losing steam, some are blaming November's figures on a calendar quirk — and keeping faith shoppers will continue to open up their wallets…"We expect a modest rebound to spending in December," Joe Brusuelas, chief economist at RSM U.S., wrote in a research note.

Forbes, U.S., China Reach Initial Trade Deal, But Is It As ‘Amazing’ As Trump Claims?, Sergei Klebnikov, 12/13/2019: The U.S. and China have finally agreed upon an initial trade deal in the 19-month-long trade war, resulting in a rollback of both existing and scheduled tariffs, officials from both sides said on Friday…“We don’t even have the agricultural numbers yet,” points out Joseph Brusuelas, RSM chief economist. “If we don’t get them by Monday, this deal could seem like an agreement just to agree, and the market will go down.”

USA Today, That 2020 recession you kept hearing about? Could we dodge it?, Paul Davidson, 12/13/2019: The threat of a recession in 2020 has hovered like a dark cloud most of this year. While the cloud still lingers, it has less become less ominous and may be receding further into the future…The presidential race is also generating a lack of clarity on tax and other policies that will dampen business spending, says RSM economist Joe Brusuelas.

Washington Post, The Finance 202: Trade truce with China caps good week in Washington for Trump's economy, Tory Newmyer, 12/13/2019: President Trump declared a trade truce with the Chinese, just days before the hammer blow of new tariffs on consumer goods is set to fall — and two months after he first trumpeted a major breakthrough with Beijing…And RSM chief economist Joe Brusuelas:

So what kind of trade deal? Is it a cease fire with Chinese ag purchases. If so how much? Are both sides rolling back tariffs and by how much? Is IP protection involved?

Xinhuanet, Spotlight: U.S. Fed holds rates steady, signals no changes through 2020, 12/12/2019: The U.S. Federal Reserve on Wednesday left interest rates unchanged and signaled that it would keep rates on hold through 2020…"This reinforces our view that with the 2020 elections approaching, the Fed will keep interest rates on hold," said Joseph Brusuelas, chief economist with RSM US LLP, an audit, tax and consulting firm. "In short, the Fed thinks it can err on the side of caution and has room to maneuver should the trade war intensify or if there is an exogenous shock to the economy," Brusuelas said, believing the Fed is unlikely to raise rates anytime soon.

CNN Business, Why the Fed is about to become a 'sideshow', Julia Horowitz, 12/11/2019: President Donald Trump wants the Federal Reserve to keep cutting interest rates. That looks unlikely — at least for now…"This will essentially make the Fed a sideshow for the next few months as attention turns to policy risks around the trade conflict and the upcoming presidential election," said Joseph Brusuelas, chief economist at tax advisory and consulting firm RSM.

Associated Press, US jobs data to give clues to economy amid trade uncertainty, Christopher Rugaber, 12/06/2019: Friday’s November jobs report will provide insight into whether steady hiring remains a source of strength for the U.S. economy even as the Trump administration’s trade conflicts have heightened uncertainties for employers…Joe Brusuelas, chief economist at RSM, a tax advisory and consulting firm, notes that services companies have added 1.4 million jobs this year, compared with just 2,000 for manufacturing. Also picked up in The New York TimesBusiness Insider and Yahoo! Finance, among others.

Yahoo! Finance, China says it will waive tariff hikes on U.S. soybeans, pork, 12/06/2019: China says it is willing to waive import tariffs for some soybeans and pork shipments from the U.S. as the two countries work to reach a phase one deal to end a trade war that has rattled global markets. Yahoo Finance's Julie Hyman, Adam Shapiro and Brian Cheung as well as RSM Chief Economist Joe Brusuelas discuss. NOTE: Additional video clips from the “On the Move” segment featuring Joe can be found here: Clip 1Clip 2Clip 3.

The Hill, Economy adds 266K jobs in November, blowing past expectations, Sylvan Lane, 12/06/2019: The U.S. added 266,000 jobs in November, the Labor Department reported Friday, blowing past expectations as the American economy continues to push through a global slump…"This is an excellent jobs report late in the business cycle and something of an early holiday gift for the economy and investors," wrote Joseph Brusuelas, chief economist at tax and consulting firm RSM, in a Friday research note.

The Wall Street Journal, Bank of Canada Governor Stephen Poloz to Step Down at End of Term, Kim Mackrael, 12/06/2019: Bank of Canada Governor Stephen Poloz said Friday he will step down from his position when his term expires next June, after overseeing an economy sideswiped by a commodity-price downturn and weakened by trade uncertainty fueled by the Trump administration…“Mr. Poloz really outperformed expectations during his tenure,” said Joseph Brusuelas, chief economist for RSM LLP.

TD Ameritrade Network, Joe Brusuelas’ Jobs Report Preview, 12/05/2019: Joe Brusuelas, Chief Economist at RSM…We got in some nice jobless claims today. We’re eager for tomorrow’s numbers. ADP a little weaker. What do you make of the whole picture so far? What you’re going to see is a reflection of sort of the unbalanced economy here in the United States.

MarketWatch, Friday’s jobs report may reveal a snapback in job creation in November — but there are a few worrying signs, Jeffry Bartash, 12/05/2019: Hiring in the U.S. has undoubtedly slowed, but it hasn’t slowed to a crawl…Joe Brusuelas, chief economist of RSM, points out that the service sector has generated 1.39 million new jobs this year, compared with only 2,000 for manufacturing.

Axios, 1 big thing: The end of Trump's manufacturing renaissance, 12/04/2019: The manufacturing industry got a huge boost from President Trump's election, seeing a groundswell of job gains during his first year in office. But the trade war with China has undone that progress: Jobs in the sector have stalled out and turned negative in 2019…What's next: Things will likely get worse before they get betterJoe Brusuelas, chief economist at tax and consulting firm RSM, tells Axios. More companies are starting to face higher costs from tariffs, and those that have already been affected are starting to cut back hours and lay off workers to compensate for their losses.

Benzinga, UCLA Anderson Forecast Upgrades Outlook for the Nation as Financial Conditions Improve, 12/04/2019: Citing "improved financial conditions, a better housing and employment outlook, some relaxation of trade tensions and a modest improvement in business fixed investment," the UCLA Anderson Forecast has upgraded its national economic forecast through 2020…In addition to presentations of the U.S. and California forecasts, the December 2019 Forecast Conference, sponsored by RSM US LLP, features several panels and a keynote address by Vijan Srinivasan ('01), chief investment officer of Scarsdale Capital LLC. The panel, moderated by David Shulman, will look at the volatility of financial markets and features: Joseph Brusuelas, chief economist for RSM US LLP. 

Bankrate, Survey: Recession odds diminishing for U.S. economy, but watch for a slowdown, Sarah Foster, 12/04/2019: The nation’s top economists say a recession within the next year isn’t probable, but that doesn’t mean the U.S. economy will be worth bragging about. Experts polled for Bankrate’s Fourth-Quarter Economic Indicator survey estimate a 35 percent chance that the U.S. economy will enter a downturn between now and the November 2020 elections. That’s down from 41 percent during the prior quarter’s survey, showing that experts are more optimistic about the future…Responding were:… Joseph Brusuelas, chief economist, RSM.