RockCreek designs tailored portfolio strategies in close collaboration with our endowment and foundation partners to deliver strong sustainable returns. We help grow their resources to fuel their programs and deliver on their institutions’ stated mission and goals.
May 19, 2023
As President Biden sits down in Hiroshima this weekend for the 2023 G7 summit, he has to explain away a backdrop that is puzzling for non-Americans – not to mention for many Americans: the US may be on the brink of default. The debt ceiling crunch briefly looked promising mid-week, before Republicans called for a pause on Friday. Expect more twists and turns.
May 12, 2023
Those looking for clear direction from this week’s inflation news didn’t find it. The consumer price index was in line with expectations – lower than might have been feared but not yet consistent with the Federal Reserve’s hopes for a clear deceleration towards its 2% goal. At RockCreek we see no reason to expect an early pivot to interest rate cuts, although market pricing suggests otherwise. A pause is likely but is not yet a done deal.
May 05, 2023
As widely anticipated, Federal Reserve policymakers pushed up interest rates by another 25 basis points this week. With the policy rate now at 5% – after a 500-basis point increase over the past year – the Fed hinted that it may be done hiking. That is not yet a sure thing. And Chair Jerome Powell pushed back on market hopes of a pivot to cutting rates this year. The Fed is still worried about inflation. A credit crunch may be coming, but the jobs market remains tight.