This week the Investment Office continues to watch inflation and other macro drivers as the Fed tackles inflation and supports growth. Around the world, Europe’s main focus continues to be the Russian gas dispute; China’s economy has slowed down dramatically after COVID lockdowns dampened demand and disrupted industrial activities; and in the U.S. companies are halfway throughh the second quarter earnings season, with 56% of the S&P 500 constituents reporting. On the economic front, we are waiting for the US employment numbers for July at the end of the week. This can be thought of as a logical extention of last week’s rate hike of 75 bps and Chairman Powell’s subsequent commentary on the reasons for the rate hike and the outlook of the US. Our Head of Wealth Planning reviews the new proposed tax changes and the Inflation Reduction Act, where Senator Joe Manchin will support a $700 billion package addressing climate change, prescription drug reform and tax changes.
Click Here to Read the August 1, 2022 Economic Commentary
Click Here to Read the August 1, 2022 Investment Commentary
Click Here to Read the August 1, 2022 Wealth Planning Commentary
