Economic Insights by Nationwide

Nationwide's Chief Economist Kathy Bostjancic and Financial Market Economist Oren Klachkin share their analysis of April's CPI report, how the markets are reacting, and how this rise in inflation could impact the fed funds rate. [NFM-22911AO]

Nationwide's economists Ben Ayers and Daniel Vielhaber discuss the state of the housing market, exploring national trends, regional differences, policy impacts, and what lies ahead for housing in 2026 and beyond. [NFM-22911AO]

Nationwide’s Chief Economist Kathy Bostjancic and Chief Market Strategist Mark Hackett discuss the factors that drove the FOMC's decision to hold rates steady in April. Kathy provides an update on the leadership changes at the Fed and how that could influence future policy. Mark shares his outlook for how the resilient markets are responding to the continued war in Iran. [NFM-25266M5]

Nationwide's Rebecca Wilder, Josephine Shea, and Jake Bupp discuss the impact of the war in Iran on the global economy, how different regions are holding up, where economic stress is most visible, and how global markets are responding to overlapping shocks. [NFM-25266M4]

After several years of tightening margins, U.S. farmers are now grappling with the added impact of the war in Iran and shifting market dynamics. Bridge payments and ongoing Farm Bill negotiations in Congress are offering some relief—though financial stress remains elevated. Nationwide’s Senior Economist Ben Ayers and Economist Daniel Vielhaber discuss the current state of the agriculture industry, how farmers are responding to today’s pressures, and how this could impact the overall economy. [NFM-22911AO]

As a benefit of last year's “One Big Beautiful Bill”, tax refunds are expected to be much larger this year - boosting consumer spending and providing incentives for businesses. Nationwide's Senior Economist, Ben Ayers, and Senior Director of Advanced Consulting Group, Tom Duncan, discuss what these tax changes could mean for households, businesses, and the broader economy - as higher gas prices from the war in Iran and future tax uncertainty are complicating expectations for economic growth. [NFM-22911AO]

It’s been one year since “Liberation Day” (April 2, 2025) when the White House announced a range of new tariffs on many of our global trading partners. Nationwide’s Chief Economist, Kathy Bostjancic, and Nationwide’s VP of Government Relations, Ben Brewster, unpack how tariff policy has evolved over the past year and its impact on the economy and financial markets. They also discuss what's on the horizon for the economy and policymaking in a politically charged environment. [NFM-22911AO]

Nationwide's Kathy Bostjancic and Oren Klachkin break down the Fed’s decision to keep rates unchanged in March, the financial market's reaction, and what to watch for in the months ahead. We also examine how other major central banks’ decisions this week may reflect the broader health of the global economy amid the uncertainty from geopolitical events. [NFM-22911AO]

Geopolitical tensions have rattled energy markets this month—raising questions about what higher oil and gasoline costs could mean for inflation readings and the broader economic outlook. Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber share their insight on how oil prices impact inflation readings and what we expect for inflation in response to the conflict in Iran. [NFM-22911AO]

In this timely episode, Nationwide’s Chief Economist Kathy Bostjancic and Chief Investment Officer of Nationwide Funds Chris Graham break down how the recent conflict in Iran is influencing the U.S. economy, global financial markets, and the Federal Reserve’s policy path. Together, they unpack the economic ripple effects that geopolitical shocks can create—from volatility in equities, bonds, and commodities to pressures on key sectors of the U.S. economy. The conversation also looks ahead, exploring market resilience and what investors may expect in the weeks surrounding the upcoming FOMC meeting. Whether you're an investor, advisor, or someone tracking global economic trends, this episode offers actionable insights to help navigate uncertainty with patience over panic. [NFM-25266M2]

Nationwide's Chief Economist Kathy Bostjancic and Financial Market Economist Oren Klachkin analyze the final GDP report from 2025 and examine the Supreme Court’s decision that ruled against the Trump administration’s IEEPA‑based tariffs. [NFM-22911AO]

The housing market is one of the major drivers of today’s inflation trends, with affordability pressures touching millions of households. As home prices, rental rates, and borrowing costs continue to shift, understanding their impact on overall inflation is more important than ever. In this episode, Nationwide economists Ben Ayers and Oren Klachkin discuss the forces behind shelter inflation, the recent proposal for Fannie Mae and Freddie Mac to buy mortgage-backed securities to lower mortgage rates, and when conditions may start to feel more normal for buyers and renters. [NFM-22911AO]

Nationwide Senior Economist Ben Ayers and Economist Daniel Vielhaber discuss the current state of the labor market, looking closely at hiring trends and the regions where the job market is growing the most. [NFM-22911AO]

Which direction is our economy heading? Some data show positive trends. But consumer and business surveys may provide a completely different view. Nationwide's Chief Economist Kathy Bostjancic and Financial Market Economist Oren Klachkin compare the hard and soft economic data and explain why they are saying different things about our economy. We also discuss soft and hard data regarding the NFL championship game. [NFM-22911AO]

Nationwide Financial Market Economist, Oren Klachkin, and Investment Leader and Head of Fixed Income for Nationwide, Brad Beman, discuss January's FOMC announcement to pause rate cuts, how the markets are responding, and when the Fed could cut rates again. [NFM-22911AO]

Nationwide Senior Economist Ben Ayers and Economist Daniel Vielhaber discuss the current state of the auto industry, impact from tariffs, affordability concerns for consumers, and the outlook for 2026. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Financial Markets Economist Oren Klachkin analyze December's inflation and employment reports and how they could impact the markets and the Fed's decision on interest rates. [NFM-22911AO]

Nationwide hosted a forum on the economic and financial market outlook for 2026, featuring Chief Economist Kathy Bostjancic, Chief Investment Officer Joel Coleman, Chief Market Strategist Mark Hackett, Nationwide's Vice President of Government Relations Ben Brewster, and Senior Economist Ben Ayers. Panelists cover a wide range of topics including the stimulus that could result from the One Big Beautiful Bill, the potential for additional rate cuts from the Fed, who could replace Chair Powell when his term ends in May, and how AI is impacting the markets and overall economy. [NFM-25266M1]

Kathy Bostjancic (Nationwide's Chief Economist), Ben Brewster (Vice President of Government Relations), and Tom Duncan (Senior Director, Advanced Consulting Group) explore how the tax law changes from the One Big Beautiful Bill Act could shape the economy, influence planning strategies, and create new opportunities for growth. [NFM-23971M9]

Nationwide's Chief Economist Kathy Bostjancic and Head of Enterprise Portfolio Management Leo Svoboda discuss December's cut in the fed funds rate, its effect on long-term rates, and their outlook on additional rate cuts in 2026. [NFM-22911AO]

Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber discuss the impact that deregulation could have on home construction, the prospect of a 50-year mortgage, and how these factors could improve the supply and affordability of homes. [NFM-22911AO]

The turkey is carved, the traffic is wild, and deals are in flight—will shoppers go big or keep budgets tight? Nationwide's Ben Ayers and Daniel Vielhaber join the cheer, to unwrap if inflation will Grinch up the year. From Black Friday frenzies to tariffs that bite, we’ll sleigh through the numbers and keep spirits bright. [NFM-22911AO]

The labor market has slowed down this year, contributing to recent cuts in the fed funds rate. What seems to be contributing to lower job numbers? How are economists and the Fed able to assess the strength of the labor market without the BLS employment report – which has been halted by the government shutdown. Nationwide's Chief Economist Kathy Bostjancic and Senior Economist Ben Ayers discuss these topics and provide their outlook for job growth. [NFM-22911AO]

Nationwide’s Chief Economist Kathy Bostjancic and Vice President of Government Relations Ben Brewster unpack November's election results, the record-breaking government shutdown, the Supreme Court’s pivotal hearing on tariffs, and the economic implications of these developments. [NFM-22911AO]

When the data go dark, how does the Fed keep its balance? Nationwide's Chief Economist Kathy Bostjancic and Nationwide's Chief Market Strategist Mark Hackett explore the risks, rationale, and ripple effects of the FOMC's recent policy decisions made during the ongoing government shutdown. [NFM-22911AO]

The number of Americans living to age 100 is growing and expected to quadruple in the next 30 years. Kevin Jestice (President, Nationwide Retirement Solutions) and Kathy Bostjancic (Nationwide's Chief Economist) discuss the prospect of living longer and its impact on retirement planning. [NFM-23971M8]

Nationwide Financial Market Economist Oren Klachkin, Head of Emerging Markets at Nationwide Investments Rebecca Wilder, and Senior Emerging Markets Analyst Josephine Shea explore the dynamic - and often unpredictable world of emerging markets and global economic trends. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic, Nationwide's VP of Government Relations Ben Brewster, and Financial Markets Economist Oren Klachkin discuss the government shutdown and its impact on economic growth, the labor market, and the FOMC's ability to assess inflation and employment ahead of their October meeting. [NFM-22911AO]

The Manufacturing sector has been in contraction due to weaker global demand following the pandemic. What additional impact are the new tariffs having? What can manufacturers do to navigate the current volatile conditions? Nationwide's Senior Economist Ben Ayers and Manufacturing Lead and Nationwide AVP Erika Melander answer these questions and provide their insight. For more information on this topic, see our Manufacturing Resources https://www.nationwide.com/business/risk-management/industries/manufacturing/ [NFM-22911AO]

The FOMC held its September meeting this week and announced a cut in the fed funds rate - the first cut since November 2024. Are more rate cuts possible this year? How is the market responding to this cut and the potential for additional rate cuts? Nationwide's Financial Markets Economist Oren Klachkin and Investment Leader and Head of Fixed Income for Nationwide Brad Beman analyze the Fed's decision on the fed funds rate and the market's reaction and outlook. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Financial Markets Economist Oren Klachkin share their analysis and outlook on inflation. Which sectors are still experiencing price increases, which sectors are not, and which ones are feeling the most pressure from tariffs? How could the recent CPI report impact the odds of a potential rate cut at this month's Fed meeting? [NFM-22911AO]

Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber share their outlook for the housing market, specifically the affordability issues caused by high mortgage rates and rising prices. When could homes become more affordable again and how is this situation impacting rental properties? [NFM-22911AO]

Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber discuss how inflation has impacted school-related purchases this year - including college students - and how back-to-school consumer spending could impact the overall economic outlook. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Financial Markets Economist Oren Klachkin analyze the impact from tariffs on July's CPI data and provide their outlook for inflation, the fed funds rate, and the overall economy. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Financial Market Economist Oren Klachkin share their insight into Q2 GDP and the Fed's decision to hold rates steady. [NFM-22911AO]

Investment in construction has been sluggish over the past year - mostly from elevated interest rates, higher costs, and economic uncertainty. How has this downward trend impacted the overall economy. How could things turn around in the next year, especially now that the One Big Beautiful Bill (OB3) has been signed into law? Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber share their insight into recent economic trends in the construction industry. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Senior Economist Ben Ayers analyze June's CPI and PPI data for tariff-related impacts, how input prices could be affected, and how higher inflation could impact the FOMC's decision to lower the fed funds rate. [NFM-22911AO]

How have the economy and financial markets performed in the first six months? How have the policy changes from D.C. impacted consumers and businesses? And what is the outlook for interest rates, equity markets, and economic growth for the rest of the year? Nationwide's Chief Economist Kathy Bostjancic, Senior Economist Ben Ayers, and Financial Market Economist Oren Klachkin provide their perspectives and outlook. [NFM-22911AO]

Senior Economist Ben Ayers and Economist Daniel Vielhaber provide their insights into consumer sentiment data and how informative it is in forecasting economic growth. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and Chief Market Strategist Mark Hackett analyze the Fed's decision to once again hold the fed funds rate steady in June amid uncertainty from tariff negotiations and geopolitical events. [NFM-22911AO]

Nationwide economists Oren Klachkin and Daniel Vielhaber react to May's CPI report and discuss the impacts that tariffs could have on consumer prices. [NFM-22911AO]

Nationwide's Chief Economist Kathy Bostjancic and V.P. of Government Relations Ben Brewster discuss the hurdles for the tax bill and its potential economic impact. They also explore the evolving landscape of the new tariff rates amid recent legal challenges. [NFM-22911AO]

How could lower consumer sentiment impact the travel industry this summer? And how much impact does travel spending have on the overall economy? Nationwide economists Ben Ayers and Daniel Vielhaber provide our outlook on the 2025 summer travel season. [NFM-22911AO]

Nationwide Senior Economist Ben Ayers and Economist Daniel Vielhaber analyze April's CPI data and share their outlook for potential tariff impacts on inflation. What did we learn from last month's data? Are we seeing any impacts from the recent changes in trade policy? And are we getting any closer to the Fed's two percent inflation objective? [NFM-22911AO]

The FOMC held interest rates steady in May, keeping the benchmark range at 4.25 percent to 4.5 percent. Nationwide's Chief Economist Kathy Bostjancic and Investment Leader Brad Beman discuss the fed funds rate and the growing risks of higher inflation and rising unemployment due to the changes in tariff policy. [NFM-22911AO]

The rapidly changing landscape of President Trump's second term has been marked by a flurry of executive actions and significant policy shifts. Nationwide's Chief Economist Kathy Bostjancic and Nationwide’s Vice President of Government Relations Ben Brewster discuss the sweeping changes and global impact of Trump's economic strategies. What are the risks and benefits of Trump's tax bill and the likelihood of this bill ever getting to the president's desk? What is the potential impact of tariffs, the future of government efficiency efforts, and the political dynamics influencing his administration? [NFM-22911AO]

Nationwide's Senior Economist Ben Ayers and Economist Daniel Vielhaber provide their outlook for the auto market, which has been impacted by high interest rates, rising prices, and tariffs. [NFM-22911AO]

Nationwide Senior Economist Ben Ayers and Financial Markets Economist Oren Klachkin compare the recent hard and soft economic data, why they are indicating different economic trends, and how this could impact the FOMC's decision to lower interest rates. [NFM-22911AO]

In April, the U.S. announced aggressive tariffs on its trading partners around the world. A week later, the president announced a 90-day pause in the reciprocal tariffs. With ongoing negotiations, retaliatory tariffs, and great uncertainty, investors have been on a wild roller coaster ride. Nationwide's Chief Economist Kathy Bostjancic and Chief Market Strategist Mark Hackett discuss the tariff impacts on the economy and the markets. [NFM-23971M7]

Nationwide economists Ben Ayers and Daniel Vielhaber share their outlook for the Ag sector - including an update on egg prices and the potential impact from tariffs. [NFM-22911AO]