Last week’s FOMC minutes (of the March 2023 meeting) served to shape the focus of investors on the possibility of a recession. The Federal Reserve’s Research Dept. apparently is running with a forecast for a “mild recession” later in 2023, a revelation that is quite consistent with the GDP numbers that would need to materialize in order to support the Federal Reserve’s GDP forecast of 0.4% for the full year 2023. After several large U.S. banks reported earnings last Friday, there was an air of relief around the markets. In the wake of recent bank failures, the Fed Fund futures market is anticipating the Fed will pivot to rate cuts before the year is out. We think Fed Chair Jerome Powell remains focused on tackling evidence of inflation. If the bank crisis spreads, then the Fed will be in a tough position. On the wealth planning front, we continue with the theme of financial literacy and focus on understanding which documents you should have in place as part of your estate plan, regardless of wealth level. These documents serve to protect you if you become incapacitated, offer privacy and clarity to your loved ones, and help to secure and settle your estate.
Click Here to Read the April 17, 2023, Economic Commentary
Click Here to Read the April 17, 2023, Investment Commentary
Click Here to Read the April 17, 2023, Wealth Planning Commentary
