We believe the Fed will continue its path of raising rates until it tackles inflation and will only pivot beforehand if there is deep foreign financial market contagion, massive market liquidity issue, or material credit market disruption. While the Fed tackles inflation, inventory management has been a challenge for businesses in the US and globally as supply chain bottlenecks disrupt the normal process of placing orders and delivering products to customers. Inventories will likely be drawn down substantially in the fourth quarter, reducing economic growth from the estimated 2% to something closer to 1% or less as the year closes out. On the wealth planning front, we see opportunities with the new market lows, including loss harvesting, Roth conversion, and wealth transfer.
Click Here to Read the October 3, 2022, Economic Commentary
Click Here to Read the October 3, 2022, Investment Commentary
Click Here to Read the October 3, 2022, Wealth Planning Commentary
