As is fairly typical at economic inflection points, the top-line economic numbers for GDP and employment continue to hold up while notable regional and sectoral differences are increasingly apparent. Chief among these differences at the moment is commercial real estate, where properties in coastal downtown cores are increasingly being put back to lenders who may or may not be prepared to handle the financial burden. This will be an active week in the world of macro-economic data. It could also be another bumpy ride in the financial markets. Scheduled for June 14th, the Fed is expected to pause rate increases during its June FOMC Meeting after ten consecutive hikes. However, the Fed may also communicate that it is not done hiking rates. The European Central Bank council meetings on June 15th, with another 25bps rate hike expected. The ECB seems committed to hiking rates; however, the variable effects of past hikes are beginning to slow the European economy. June 13th, the Consumer Price Index (CPI) is expected to decrease to 4.2% year-over-year in May. The next few days of inflation data, followed by the Federal Reserve’s latest rate decision and commentary, will provide more near-term tests for the long-term growth objective of equity markets. On the wealth planning front, we discuss inheriting and gifting family properties and the issues you and your family have to consider.
Click Here to Read the June 12, 2023, Economic Commentary
Click Here to Read the June 12, 2023, Investment Commentary
Click Here to Read the June 12, 2023, Wealth Planning Commentary
